Athens (AFP) - Greece was locked Monday in intense talks with its EU partners after the country's prime minister stuck to his anti-austerity guns with the deadline for a deal needed to avoid the risk of default and a euro exit just days away.
Athens (AFP) - Greek Prime Minister Alexis Tsipras will unveil a high-stakes economic programme Sunday ahead of a key meeting with eurozone finance ministers this week when Athens will push for a new debt deal with international creditors.
London (AFP) - European stock markets surged Monday on hope that Greece was closer to ending a five-month standoff with its EU-IMF creditors over a deal to save the country from default and a possible euro exit.
ATHENS: Greece and its international creditors were "very close" to a loan deal for the cash-strapped country, a Greek junior minister said on Sunday, a day ahead of a key meeting in Brussels. "After weeks of painful negotiation, if the other side is willing, it will become apparent that... the deal is very close and will be sealed in the coming period," Euclid Tsakalotos, one of Greece's main negotiators, told Avgi daily.
BRUSSELS: European leaders Monday pleaded with Greek voters to back hotly disputed bailout proposals in a crunch referendum or face leaving the euro as bank closures left many in Greece scrambling to find cash. On the eve of an expected debt default that could set Greece on the path to a euro exit, Prime Minister Alexis Tsipras sought to calm nerves by leaving the door open to talks, saying the July 5 plebiscite on creditors' latest cash-for-reform plans would leave the country "better armed" in the fight for a debt deal.
BRUSSELS: Greece asked for a fresh two-year rescue deal with the European Union on Tuesday in a final roll of the dice just hours before its current bailout expires and it misses a critical IMF payment. The eleventh-hour appeal came as 20,000 pro-bailout supporters took to the streets of Athens, where banks have been shut by the spiralling debt crisis and people are queueing for cash.
BRUSSELS: The leaders of France and Germany on Friday handed Greek Prime Minister Alexis Tsipras a weekend ultimatum to strike a debt deal with EU-IMF creditors or risk default. Angela Merkel and Francois Hollande told the leftist Greek premier in brief talks on the sidelines of an EU summit that Saturday's meeting of eurozone finance ministers was critical. "They reminded him that this meeting was crucial and decisive and that it was vital now to work towards a deal on a package that includes reforms, investment and financing," a source said.
Brussels (AFP) - Greece goes into talks with its eurozone partners on Monday demanding changes to a massive international bailout which could lead to its exit from the single currency bloc and into the unknown.
The former chairman of the U.S. Federal Reserve, Alan Greenspan, has predicted that Greece will be forced to exit the euro, as its new prime minister outlined plans last night to keep the debt-stricken country financially afloat.
In a bleak assessment of Europe’s future, Greenspan, one of the most influential policymakers of modern times, said it was “just a matter of time” before Greece dropped out, triggering the eventual collapse of the single currency.