The South African Broadcasting Corporation (SABC) Board will on Thursday hold a special meeting to consider a repeat proposal by the Communications Minister to halt retrenchments. The public broadcaster is forging ahead with its ongoing retrenchment process to reduce the numeration cost to the organisation. Around 400 permanent staff are[…]
Greece has agreed a deal to unlock a further 10.3bn euros ($11.5bn; £7.8bn) in loans from its international creditors, after talks in Brussels. Eurozone finance ministers also agreed to potentially offer Greece debt relief – a concession that was necessary to keep IMF on board. The 19 ministers said the[…]
The Greek parliament passed sweeping austerity measures demanded by lenders to open talks on a new multibillion-euro bailout package to keep Greece in the euro, but dozens of hardliners in the ruling Syriza party deserted Prime Minister Alexis Tsipras. The package was approved with 229 votes in the 300-seat chamber.[…]
Greece’s leftwing Prime Minister Alexis Tsipras faces a showdown with rebels in his own party on Tuesday furious at his capitulation to German demands for one of the most sweeping austerity packages ever demanded of a euro zone government. Just hours after a deal that saw Greece surrender much of[…]
Eurozone leaders have unanimously agreed on a bailout deal for Greece, says the European Union president. Donald Tusk announced on Monday that the agreement would pave the way for Greece to remain a member of the euro by conducting “serious reforms and obtaining “financial support”. The deal – if ratified[…]
Greece formally requested a three-year bailout from the eurozone’s rescue fund Wednesday and pledged to start implementing some overhauls by the beginning of next week, according to a copy of the request seen by The Wall Street Journal. The letter is a first step toward fulfilling a demand by international[…]
Voting has ended in a crucial referendum that will decide whether or not Greeks choose to accept international creditors’ proposals for more austerity in exchange for rescue loans needed to avoid default and a banking collapse. Polling booths closed at 16:00 GMT on Sunday, with opinion polls showing the nation[…]
The brief but intense campaign in Greece’s critical bailout referendum has ended, with simultaneous rallies in Athens supporting “Yes” and “No” answers to a murky question in what an opinion poll suggests could be a very close vote. Prime Minister Alexis Tsipras called the referendum last weekend, asking Greeks to[…]
The International Monetary Fund has electrified the referendum debate in Greece after it conceded that the crisis-ridden country needs up to €60bn (£42bn) of extra funds over the next three years and large-scale debt relief to create “a breathing space” and stabilise the economy. With days to go before Sunday’s[…]
Greece moved to check the growing strains on its crippled financial system on Sunday, closing its banks and imposing capital controls that brought the prospect of being forced out of the euro into plain sight. After bailout talks between the leftwing government and foreign lenders broke down at the weekend,[…]
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