Greece

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Yanis Varoufakis Defends ‘Plan B’ Tax Hack

Yanis Varoufakis has insisted he did nothing improper as part of a five-month clandestine project he ran as Greek finance minister that prepared for his country’s possible exit from the euro, the Financial Times reported. The scheme, which was almost ...

Daily Headline - global.abi.org - 07/27/2015 - 23:10 - 0 comments

Greece Rocked By Reports Of Secret Plan To Raid Banks For Drachma Return

Some members of Greece’s leftist-led government wanted to raid central bank reserves and hack taxpayer accounts to prepare a return to the drachma, according to reports that highlighted the chaos in the ruling Syriza party, The Guardian reported. It ...

Daily Headline - global.abi.org - 07/26/2015 - 20:49 - 0 comments

Greece Bailout Monitors Question Access To Ministries

Negotiators from Greece’s bailout monitors will fly to Athens on Monday to formally begin talks on a €86bn rescue after days of delays over whether the Greek government would allow creditors to have full access to staff and facilities, the Financial Ti ...

Daily Headline - global.abi.org - 07/26/2015 - 20:50 - 0 comments

Personalities Clashing Over How to Handle New Greek Bailout

To many Greeks, the debt the country has amassed is the evil fruit of austerity policies, imposed from the outside, that asphyxiated its economy and trampled on its sovereignty. To the International Monetary Fund, the debt of more than 310 billion euros, ...

Daily Headline - global.abi.org - 07/23/2015 - 23:36 - 0 comments

ECB Raises Ceiling On Emergency Funds For Greece Ahead Of Bailout Vote

Athens has been thrown further emergency assistance after the European Central Bank (ECB) increased liquidity for Greek lenders ahead of a crucial vote on a third bailout programme for the debt-stricken nation, The Guardian reported. While lawmakers ...

Daily Headline - global.abi.org - 07/22/2015 - 19:33 - 0 comments

Greece Submits Bill Needed To Start Rescue Talks

The Greek government submitted legislation to parliament on Tuesday required by its international lenders to start talks on a multi-billion euro rescue package, the Irish Times reported. Prime minister Alexis Tsipras has until Wednesday night to get ...

Daily Headline - global.abi.org - 07/21/2015 - 20:47 - 0 comments

Athens Delays Increasing Farmers’ Taxes

In a related story, the Financial Times reported that Athens has left a measure imposing higher taxes on farmers out of a reform bill that is essential to securing a new financial rescue worth up to €86bn. The bill, which was submitted to parliament ...

Daily Headline - global.abi.org - 07/21/2015 - 20:47 - 0 comments

Greek Banks Start Long and Uncertain Journey to Recovery

Reopening the doors of Greek banks on Monday was just the beginning. Restoring trust in the banks, so that customers will be willing to deposit their money again, is one of the most important tasks that Greek and eurozone officials will face as they try ...

Daily Headline - global.abi.org - 07/20/2015 - 20:35 - 0 comments

Grexit Remains The Likely Outcome Of This Sorry Process

Alexis Tsipras should never have hired Yanis Varoufakis as his finance minister, the Financial Times reported in a commentary. Or he should have listened to him, and kept him on. But instead the Greek prime minister chose the worst of all options. He ...

Daily Headline - global.abi.org - 07/19/2015 - 09:47 - 0 comments

Fear of the Unknown Binds a Greek Deal With Few Believers

Eurozone finance ministers agreed “in principle” to grant Greece an expensive third bailout designed to keep it in the euro. But the likelihood that the prospective three-year deal will fail—possibly before it starts, let alone is completed—is now estima ...

Daily Headline - global.abi.org - 07/16/2015 - 21:12 - 0 comments

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