German Finance Minister Wolfgang Schaeuble told lawmakers in Berlin that Greece would stay in the euro for the time being if Greek voters reject austerity in a referendum scheduled this week, according to three people present.
Following a week in which the Chinese stock bubble popped and a weekend in which the Eurozone bubble followed, it was all up to central banks to stabilize the devstation that would follow should the Plunge Protection Team, now global, not show up.
Austrians have launched a petition to quit the EU, arguing that the nation will be better off economically if it leaves the union. To force the national parliament to consider the initiative activists need to have gathered 100,000 signatures by July
Greece's government cannot accept a five-month extension of the bailout as proposed by creditors because it would deepen a recession and ultimately bring the nation back to a new round of crisis talks, a government official said on Friday.
Greece's government cannot accept a five-month extension of the bailout as proposed by creditors because it would deepen a recession and ultimately bring the nation back to a new round of crisis talks, a government official said on Friday.
On the heels of Thursday's failed Eurogroup meeting and heading into what is again being presented as an all or nothing, "Lehman weekend" for Greece and its creditors, reports suggest the troika has offered Greece a third bailout program:
For a couple of hours on Tuesday, it appeared as though Greece had managed to sneak a debt deal proposal by the troika that, while hitting some of the mandated fiscal targets, did not include the pension cuts and VAT concessions that had previously c
As reported earlier and as tipped here on Monday, markets will have to call off the party for now because the focus of the Greek debt deal negotiations has now shifted back to Brussels after all eyes had turned briefly to Athens on Tuesday following
U.S. and global stocks headed lower Wednesday as negotiations between Greece and its lenders drag on and investors become less hopeful that a deal will be reached soon.
Just as we warned earlier in the year, total uncertainty about the future of Greece has enabled a growing sense of moral hazard as "if the nation doesn't pay its debt, why should we" sweeps across the troubled nation.
European leaders urged Prime Minister Alexis Tsipras's government to make a final push to satisfy creditors and finally end a five-month standoff over aid.
The manager of one of Great Britain's biggest bond funds, which has £4 billion under management, is now advising investors that the time has come "to hold physical cash," along with gold and silver.
Over the weekend, JPM made it clear that absent some deal (or at least framework thereof since optimism for a deal today just crashed) being finalized today, Tuesday could be a very difficult day for Greece if and when the ECB finally revises the ELA
Russian President Vladimir Putin said after Friday's talks with Greek Prime Minister Alexis Tsipras that a prospective Russian natural gas pipeline should help Greece service its debt, but the Kremlin said the question of direct Russian financial ai
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