Greece

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With Money Drying Up, Greece Is All but Bankrupt

Bulldozers lie abandoned on city streets. Exhausted surgeons operate through the night. And the wealthy bail out broke police departments. A nearly bankrupt Greece is taking desperate measures to preserve cash. Absent a last-minute deal with its creditor ...

Daily Headline - global.abi.org - 05/25/2015 - 22:47 - 0 comments

German Finance Minister Schäuble Doesn’t Rule Out Greek Default

Germany’s finance minister said he couldn’t rule out a Greek default, a stance that will add pressure on Athens as negotiations over much-needed financing enter their final stretch. Asked whether he would repeat an assurance he gave in late 2012 that Gre ...

Daily Headline - global.abi.org - 05/20/2015 - 21:35 - 0 comments

Syriza Rebels Call For ‘Rupture’ With Greece’s Creditors

Leaders of the hard-left faction of Greece’s Syriza party have called for a “rupture” with creditors in a public challenge to Alexis Tsipras, the prime minister, as he moves closer to a new bailout deal, the Financial Times reported. The rebels inclu ...

Daily Headline - global.abi.org - 05/18/2015 - 23:14 - 0 comments

Greeks Wait and Worry About Next Paycheck, and Their Future

In a related story, the International New York Times reported that Greece, having endured five years of economic austerity, is now reeling from a different condition: economic uncertainty. No one knows if Greece’s government, led by the radical left ...

Daily Headline - global.abi.org - 05/18/2015 - 23:15 - 0 comments

Greece Offers Privatisation Concession As Germany Stays Tough

Greece on Thursday offered a concession to its international lenders by pushing ahead with the sale of its biggest port, Piraeus. Greece has asked three firms to submit bids for a majority stake in the port, a senior privatisation official said, unblocki ...

Daily Headline - global.abi.org - 05/14/2015 - 19:26 - 0 comments

Greek Banks Well Equipped for Crisis Says ECB’s Nouy

Europe’s top banking supervisor said Greek lenders have never been better equipped to deal with the country’s financial crisis, in a show of confidence in the debt-laden state’s banks, which have been stressed by fleeing deposits and political uncertaint ...

Daily Headline - global.abi.org - 05/13/2015 - 22:28 - 0 comments

Facing Vicious Debt Cycle, Greece Sprints to Apply Fixes

By now it has become familiar: Greece warns that it is about to run out of cash, then manages to scrape together enough to avoid defaulting on its debts. A larger catastrophe is averted in the eurozone, and Greece and its creditors return to haggling ove ...

Daily Headline - global.abi.org - 05/12/2015 - 20:58 - 0 comments

Greece Orders IMF Payment As Eurogroup Meets

Greece’s finance ministry ordered a €750m payment to the International Monetary Fund, ending days of uncertainty over whether Athens would use the instalment as a bargaining chip in ongoing talks with its creditors, the Financial Times reported. Mini ...

Daily Headline - global.abi.org - 05/11/2015 - 22:11 - 0 comments

I.M.F. and Central Bank Loom Large Over Greece’s Debt Talks

Greek leaders have fought fiercely in recent months with politicians from other European countries over relief on Greece’s vast debt load, the International New York Times DealBook blog reported. Yet the power to decide the fate of Greece lies not ju ...

Daily Headline - global.abi.org - 05/10/2015 - 22:11 - 0 comments

Greek Bailout Talks Near ‘Drop Dead’ Moment

There have been so many “make-or-break” moments for Athens since Greece’s debt crisis first shook markets five years ago,that it is difficult to know when things might really break, the Financial Times reported. But this much is clear: unless Greece ...

Daily Headline - global.abi.org - 05/07/2015 - 22:40 - 0 comments

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