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[…]
Euro zone leaders argued late into the night with near-bankrupt Greece at an emergency summit, demanding that Athens enact key reforms this week to restore trust before they will open talks on a financial rescue to keep it in the European currency area. Leftist Prime Minister Alexis Tsipras was told[…]
The Greek government sent a package of reform proposals to its euro zone creditors on Thursday in a race to win new funds to avert bankruptcy and will seek a parliamentary vote on Friday to endorse immediate actions. In the latest proposals, Greece has asked for 53.5 billion euros ($59[…]
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[…]
Euro zone members have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe’s currency bloc and into economic ruin. “The stark reality is that we have only five[…]
Tens of thousands of Greeks rallied on Monday to back their leftwing government’s rejection of a tough international bailout after a clash with foreign lenders pushed Greece close to financial chaos and forced a shutdown of its banking system. With a popular referendum on the bailout planned for Sunday, Prime[…]
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,[…]
Greece has asked its European creditors to extend its bailout loan for six months while it negotiates a new deal. But Germany has rejected the request and tense last-minute negotiations will resume on Friday morning. Greece has dropped key demands for the bailout settlement, but still faces stiff opposition from[…]
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