AP - Warning of a "catastrophe" that would leave Greeks subsisting on food stamps and the country wallowing in bankruptcy, Greek leaders urged lawmakers Saturday to pass more painful spending cuts on the eve of a crucial vote to qualify for a massive bailout.
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.
Alexis Tsipras is flouting the cardinal rule of political survival in Europe: don’t displease Angela Merkel.
The German chancellor’s disapproval helped end the political careers of former Italian prime minister Silvio Berlusconi and Greek leader George Papandreou.
After burning through whatever goodwill he had with Merkel’s lawmakers and the German public, the current Greek premier could be next.
Berlin (AFP) - European Commission head Jean-Claude Juncker called Saturday on the European Union to recognise the gravity of the situation in Greece -- both for the country's impoverished citizens and for the wider risks to the eurozone.
First there was The BRIC nations; then South Africa was rolled in and the group became BRICS; but with news today (following yesterday's Russian invitations for Greece's new leader to meet with Vladimir Putin) that Greece's new Prime Minister Alexis Tsipras has been invited to visit Chinese Premier Li Keqiang, we wonder if the growing non-dollar partnership will be expanded to BRICSH as The Hellenic Republic prepares to walk away from its European
WASHINGTON — President Barack Obama proposed a US$3.77-trillion budget on Wednesday that combines controversial cuts to social safety net programs with tax increases on the wealthy.
The package is meant to lure Republicans to negotiate a broad deficit-reduction plan, but the details mirror a proposal Obama laid out last year that was rejected by Republican leaders.
Greek politicians were poised to begin a fourth day of talks to name a new premier Thursday as anger grew domestically and abroad with the debt-wracked country that is flirting dangerously with bankruptcy.Greek President Carolos Papoulias was due to reopen talks with political leaders on a crisis team to implement the terms of an EU bailout deal to maintain the country in the euro and keep it solvent, with reserves running out in weeks.