Greece

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Greek Markets Hammered As Fears Grow Over New Government

Greek bank shares suffered their worst one day loss on record on Wednesday, as anxiety grew over the new government’s plan to renegotiate Greece’s €240bn bailout, the Financial Times reported. The country’s four biggest lenders saw their stock prices ...

Daily Headline - global.abi.org - 01/28/2015 - 21:35 - 0 comments

Greece’s Finance Minister Wants To Default And Stay In Euro

It’s no secret what Yanis Varoufakis thinks Greece should do with its debt. The economics professor at the University of Athens, who announced his appointment as the country’s finance minister in a posting on his personal blog on Tuesday, has been arguin ...

Daily Headline - global.abi.org - 01/27/2015 - 22:02 - 0 comments

Greece, Europe Dig In on Bailout Terms After Syriza Election Victory

Greece and its creditors veered toward confrontation as its new, leftist government pledged to make good on promises to reverse years of public-spending cuts despite warnings from Berlin and other European capitals that doing so could plunge the country, ...

Daily Headline - global.abi.org - 01/26/2015 - 22:08 - 0 comments

Finland Emerges As Major Hurdle To Greek Bailout Deal

Finland has emerged as the biggest stumbling block to negotiating a new bailout deal with an incoming Greek government, telling its eurozone partners that it will not support debt forgiveness and is reluctant to back another extension of the €172bn rescu ...

Daily Headline - global.abi.org - 01/14/2015 - 21:16 - 0 comments

Size Of Greece’s Debt Limits Scope For Solutions

Greece’s debt burden is now equal to 177 per cent of the country’s gross domestic product, a level many economists regard as unsustainable. The unpopularity of the swingeing austerity required to service it has propelled the radical left Syriza party wit ...

Daily Headline - global.abi.org - 01/13/2015 - 20:34 - 0 comments

Voices Join Greek Left’s Call for a New Deal on Debt

Many investors are worried that an election later this month may produce a new radical government in Greece. Alexis Tsipras, the leader of an unruly band of left-of-center political parties, is favored to win on Jan. 25. He has talked of restructuring Gr ...

Daily Headline - global.abi.org - 01/08/2015 - 22:39 - 0 comments

France and Germany Push Athens on Bailout Commitments

Europe has returned to the signature brinkmanship of the debt crisis that brought its currency union close to collapse five years ago: France and Germany are again warning Greece it is putting its eurozone membership at risk, The Wall Street Journal ...

Daily Headline - global.abi.org - 01/05/2015 - 21:05 - 0 comments

Berlin Insists It Expects Greece To Remain In Eurozone

Germany has insisted that it expects Greece to stay in the eurozone, despite a news report claiming Berlin was ready to see Athens quit the common currency if the populist Syriza party wins this month’s snap election and reneges on the country’s reform p ...

Daily Headline - global.abi.org - 01/04/2015 - 21:11 - 0 comments

What Happens When A Country Goes Bust

From the days when monarchs over-borrowed for their mercantile adventures, to Argentina’s recent failure to pay its creditors, countries have long run into trouble paying back what they have borrowed. Spain’s 16th-century king, Philip II, reigned over fo ...

Daily Headline - global.abi.org - 01/04/2015 - 21:12 - 0 comments

Greece’s Election: The Euro’s Next Crisis

Ever since the euro crisis erupted in late 2009 Greece has been at or near its heart. It was the first country to receive a bail-out, in May 2010. It was the subject of repeated debate over a possible departure from the single currency (the so-called Gre ...

Daily Headline - global.abi.org - 12/30/2014 - 21:59 - 0 comments

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