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.
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.
ATHENS: Greece's Prime Minister Alexis Tsipras said he hoped that a key eurozone meeting on Monday would pave the way for a badly-needed loan deal with the country's creditors. "We want a clear confirmation of the progress that has been made" in the talks, Tsipras told a cabinet meeting on Sunday, according to the ANA state agency. Tsipras said that the deal that has eluded negotiators for nearly four months should respect the mandate received by his leftist government in January elections, ANA 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.
Not even during the 2012 European debt crisis has Greece’s place in the Eurozone been more tenuous. Greece will seek about 10 billion euros (US$11.3 billion) in short-term financing as it tries to stave off a funding crunch.
Its bailout program – worth about US$272.5 billion in international loans in exchange for structural reforms – expires on February 28.
There's an amusing pair of headlines back-to-back today on what a Greek exit from the Eurozone might mean. One view is catastrophic, the others is along the lines of no problem. Let's start with the catastrophe.Economic historian Barry Eichengreen says Greek Euro Exit Would be ‘Lehman Brothers Squared.