Varoufakis issues statement defending contingency plan
Yanis Varoufakis released a statement last night defending his work creating a parallel payment system during his time as finance minister. The statement, from “the […]
ECONOMY
German finance ministry says talk of euro region tax misleading
Bloomberg — A magazine report suggesting the euro region could levy its own taxes soon is misleading as it fails to consider that such a […]
Negotiations with lenders to start on Monday to discuss details of new programme.
Pierre Moscovici, the European Commissioner in charge of economic issues, has said Brussels is shooting for a new agreement by “the second fortnight of August”. […]
Merkel suffers blow: senior party member resigns over Greece
AFP –As negotiations between Greece’s creditors and Athens resume today, German Chancellor Angela Merkel has suffered a blow with Wolfgang Bosbach, one of the senior […]
IMF will not be joining other institutions in Athens on Friday
ANA-MPA — The International Monetary Fund (IMF) mission chief for Greece will not be joining the other representatives of the institutions, who are arriving in Athens […]
On reform, Europe asks Greece to go where many fear to tread
Reuters — Greece’s new bail-out deal imposes a stiff dose of budget rigour and market deregulation which critics say few leaders of Western Europe’s biggest […]
Greek banks face full nationalisation
BBC News — Just because the doors of Greek banks are open today, don’t be fooled into thinking they and the Greek economy are anywhere […]
A deal nobody likes, setting unreachable targets for Greece
AFP — The third rescue plan for Greece has not even been finalized but already the parties at the center of the deal are raising […]
Germany asked for €50 billion Greek asserts to go to a Schaeuble controlled Luxemburg fund
The earlier proposal on the table would force Greece to vote through four pages of additional ‘reforms’ by Wednesday night. Or, it would be forced […]
#ThisIsACoup trending worldwide over Greece debt crisis as Germany faces fury
The draconian list of demands eurozone leaders handed to the Greek government in return for a European bailout has inspired a social media backlash against […]
Greece cannot currently join the BRICS Bank
(Sputnik) — In May, Russia invited Greece to become an NDB member. Earlier this week, Greek Deputy Defense Minister Costas Isychos told Sputnik that Greece welcomes the […]
Juncker heckled in the European parliament over Greek referendum ‘circus’ comments
(RT) — President of the EU Commission Jean-Claude Juncker has been heckled by MEPs at the parliament in Strasbourg, as he spoke on the current […]
ECB raises ‘Haircut’ on Greek collateral, ratcheting up pressure on Greek banks
The Governing Council of the European Central Bank decided on Monday to maintain the provision of emergency liquidity assistance (ELA) to Greek banks at the […]
IMF analysis – bailouts without relief will push Greece further into debt
Euro zone countries tried in vain to stop the IMF publishing a gloomy analysis of Greece’s debt burden which confirm what Syriza has been saying […]
Financial Times revelation – the kiss of death for Greek banks
Another piece of news from unnamed ‘well placed sources’ was deliberately leaked this morning to ensure that whatever is left of the €120 bln in […]