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.
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.
FRANKFURT, Germany (AP) — Talk of Greece crashing out of the euro is back. And the question of whether Europe can handle another crisis in Greece is heightening financial uncertainty for the currency union just as it is struggling to grow and create jobs. Some analysts and politicians say Greece 2.0 wouldn't be as rough on the eurozone as the original Greek crisis and default in 2010-2012.
Brussels (AFP) - Fears of a Greek euro exit have returned with a bang after Athens called early elections on Monday, but steps taken after the financial crisis should stop the rest of the currency zone imploding, analysts say.
As the days progress, the strategy of George Papandreou has become increasingly clear. He does not like the terms forced on him by Eurozone bureaucrats especially French president Nicolas Sarkozy and German Chancellor Angela Merkel.Not only is he fed up with Eurocrats, he is fed up with Greek protests as well as pressure from political opposition.