France and Germany told Greece on Monday to come up with serious proposals in order to restart financial aid talks, a day after Greeks voted overwhelmingly to reject more austerity. German Chancellor Angela Merkel and French President Francois Hollande, the euro zone’s most powerful leaders, said Athens must move quickly[…]
Greek Finance Minister Yanis Varoufakis has resigned after Greek voters delivered an overwhelming “No” vote in a referendum on whether to accept more austerity measures in return for new bailout cash. ‘Austerity has practically destroyed Greece’ In a statement published on his personal blog on Monday, Varoufakis said he was[…]
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’s last-minute overtures to international creditors for financial aid on Tuesday were not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund. The IMF confirmed that Greece had not made its scheduled 1.6 billion euro loan repayment to[…]
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 failed again to clinch a deal with its international creditors on Thursday, setting up a last-ditch effort on Saturday to avert a default next week or start preparing to protect the euro zone from financial market turmoil. Euro zone finance ministers ended their third meeting in a week without[…]
Greece took a step back from the abyss on Monday with the presentation of new budget proposals that euro zone leaders welcomed as a basis for a possible agreement in the coming days to unlock frozen aid and avert a looming default. European Council President Donald Tusk, who chaired an[…]
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