Former Greek Finance Minister Yanis Varoufakis has warned that the economic reforms from Greece’s debt holders are doomed to fail. The assessment comes as PM Alexis Tsipras has reshuffled his cabinet in efforts to secure a third bailout package. The EU is preparing to start talks with Athens on a third bailout which could reach €86 billion ($93 billion), but the reform program laid down by Brussels... 

Greek Deputy Finance Minister Nadia Valavani has resigned ahead of the key vote in the Greek parliament on a third bailout agreed between Prime Minister Alexis Tsipras and the country’s creditors. She described the deal as Greek agony. “Alexis, I am ready to serve in any capacity to the end during challenges. However, when our delegation returned with liabilities that are ‘stillborn measures’... 

European creditors have agreed on a deal with Greece, but the existence of the political union in its previous form is out of the question. The EU will split, and the final break is only a matter of time, DWN wrote. Many international observers called the recent EU summit a “humiliation of the Greeks.” The talks which were the longest in the history of the Union diminished all values for which... 

The Bulgarian journalists have reckoned how much is an average country citizen poorer than that of a neighbouring Greece. It turned out, that average income of the Greeks have been 3,5 times higher against that of the Bulgarians for some years. In 2013, for example, an average annual income of a Greek resident made up €8,879, that is 17,366 Bulagarian Leva. An average Bulgarian citizen got only... 

Victoria Nuland’s, Assistant Secretary of State for European and Eurasian Affairs, visit to Athens just after Ukraine makes it suppose, that the Ukrainian scenario of government dethroning and civil war is already orchestrated for Greece. Greek rapprochement with Russia, which NATO is ready to wage war with, generates such a discontent of the US State Department, that the American authorities... 

Goldman Sachs, the Great Vampire Squid that helped oligarchs and corrupt politicians hide the debt central bankers say the Greek people owe, faces legal action over the role it played in the financial crisis. The investment bank worked behind the scenes to ensure Greece followed strict Maastricht rules for eurozone membership, according to a former Goldman banker who advised indebted governments on... 

The Greek debt crisis, the expected lifting of sanctions on Iran and oil and stock market volatility will dominate the agenda of the BRICS summit which is opening today in Russia. During their two-day meeting in Ufa, the leaders of Brazil, Russia, India, China and South Africa will discuss closer industrial, technological and financial integration of their countries within the five-nation bloc. The... 

The Ministry of Defense (MoD) is reporting today that this mornings “emergency activation” to immediate combat readiness status of the 102nd Military Base near Gyumri, Armenia (Caucasus region), is directly related to the 4 July “war order” issued by President Putin authorizing the sinking of the US Navy’s guided missile destroyer USS Porter (DDG-78) that just entered into the Black Sea... 

Russian President Vladimir Putin has assured Greeks that he will support them in the financial hardships they face after the Greek people overwhelmingly voted “No” to further restricting terms of an international bailout program. In a phone conversation on Monday, Putin discussed the results of a Sunday referendum with Greek Prime Minister Alexis Tsipras, voicing his support for the Greek... 

The United States and Germany are prepared to engineer a coup in Greece to keep the country operating as a strategic asset on NATO’s vulnerable southeast European flank. “A putsch in Athens to save allied Greece from enemy Russia is in preparation by the US and Germany, with backing from the non-taxpayers of Greece – the Greek oligarchs, Anglo-Greek shipowners, and the Greek Church,” writes... 

Finance Minister Schäuble earlier asserted that the Greek crisis will have no serious consequences for the federal budget. However, President of the German Federal Bank Jens Weidmann views the situation in a different way. Greece’s withdrawal from the Eurozone is likely to create huge ‘holes’ in the federal budget planned by German Finance Minister Wolfgang Schäuble (CDU). Last Wednesday,... 

More than 61 percent of Greeks have voted “No” in Sunday’s referendum on the bailout deal and austerity measures, reported the Interior Ministry after almost 90 percent of the vote had been counted. Thousands of people took to Syntagma square in front of the Greek parliament in Athens to celebrate the ‘No’ vote, which was called “a big Yes to democratic Europe” by the country’s finance... 

German Finance Ministry spokesman Martin Jaeger. Germany has ruled out any restructuring of Greece’s debt to international creditors, despite a report by the International Monetary Fund (IMF) which shows the cash-strapped country is in dire need of debt cancellation. An analysis by the IMF, which was released in Washington on Thursday, showed that Greece needed an extra EUR 50 billion (USD 56 billion)... 

Two rival rallies took place in Athens on Friday. Police estimate that 25,000 came out to support the ‘No’ camp, which calls for the rejection of a new bailout deal with creditors in Sunday’s referendum, while 20,000 gathered to back the “Yes” vote. Greece’s Prime Minister, Alexis Tsipras, who called the referendum last week to add more weight to his position in talks with creditors, addressed... 

The EU and its financial institutions have been pushing an austerity policy on Greece for the last five years. High unemployment, more taxes, billions of euros fleeing, and an increase in suicides mean Greeks on Sunday have to decide if enough is enough. What happened? In January, the left-wing Syriza party led by Prime Minister Alexis Tsipras promised to end years of austerity measures without leaving...