The International Monetary Fund has confirmed that it didn’t receive the €1.6 billion payment from Athens that was due by the end of June 30, Brussels time, making Greece the first developed country to default on its international obligations. IMF spokesman Gerry Rice said in a statement that Greece had asked for a repayment extension earlier Tuesday and that the fund’s board will consider... 

Greek Prime Minister Alexis Tsipras is ready to accept almost all the conditions proposed by the country’s international creditors at the weekend, marking the latest attempt to keep Greece in the eurozone. The prime minister said he would accept all of the terms proposed with just minor exceptions. He agreed to the changes in the country’s value added tax system but asked to keep a special 30... 

The market value of European banks has shrunk by more than €50 billion after Greece shut down its banks until July, 6, the day after the referendum on the bailout deal is held. The Stoxx 600 Banks Index fell by 4.4 percent, the biggest daily decline since November 2011, Bloomberg reports. Among the biggest losers is Portugues Banco Comercial down 9.1 percent, and Italy’s Banca Monte dei Paschi... 

Greece has announced the temporary closure of banks and stock market as leaders of the US and Germany weigh in on the country’s debt crisis. The Bank of Greece has recommended a “bank holiday and restriction of bank withdrawals” on Monday, Greek Prime Minister Alexis Tsipras announced in a statement on Sunday. Athens stock market would also stay closed and capital controls are to... 

Angry pensioners have hit the streets of the Greek capital, protesting against the reports of a new austerity plan being ushered onto them. It comes as Greece and its lenders debate the nation’s €240 billion debt. Demonstrators say they feel betrayed by Syriza’s measures of the upcoming deal, which, according to AP, suggests increasing the contributions that employees pay for pensions,... 

Historically, no country has pushed for a united Europe more than France, but the idea has usually referred to the will of the French elite rather than the average citizens. As Greece is trying to settle a debt deal with international lenders, solidarity feeling with the Greek people is running high among the French who share the same frustrations and resentments towards the European Union. Source  Read More »

Athens is likely to leave the eurozone and the EU if it fails to reach an agreement to unlock a €7.2 billion bailout installment, said a statement from the Bank of Greece. “Failure to reach an agreement would, …, mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country’s exit from the euro area and – most likely – from the... 

European countries, international creditors and the Greek opposition have declared a war on Greece (resembling the one on Yugoslavia) but the government will stay true to its election promises, Labor Minister Panos Skourletis of Syriza said. “The months following the elections were extremely hard. Never before has the government, which received a clear popular mandate, faced such a war waged... 

International Monetary Fund representatives have cut short negotiations with Greek officials in Brussels, after they failed to present a viable reform plan. The move has left Athens, due to repay €1.6 billion by the end June, on the edge of default. “The ball is very much in Greece’s court,” IMF spokesman Gerry Rice told the media during a specially scheduled announcement, before his team... 

Greek anti-austerity activists have occupied the Finance Ministry building in the capital, Athens, in protest of new austerity measures dictated by international creditors. The protesters took down the European Union (EU) flag waving over the building and put up a banner with portrays of Prime Minister Alexis Tsipras alongside his predecessors, George Papandreou and Antonis Samaras, reading “We... 

In response to the false news story that a Pakistani had won the Joker (the Greek lottery), SYRIZA MP Maria Kanellopoulou took the opportunity to draw fire against the Greeks through a deeply anti-Greek, racist delirium! “Hahahahahahahaha….. What am I hearing??? What am I reading???? What am I learning???? A Pakistani won the Joker???????? There is a God after all!!!!” The SYRIZA MP concludes... 

Exclusive photos including selfies and prayers shots of their “transfer” to Athens! The island of Lesbos receives hundreds of illegal immigrants daily. With inflows management now impossible, the Mayor has appealed to have these persons transferred from the island to Athens. The situation appears to be dramatic in Mytilene, since the influx of immigrants is massive and the local government is... 

Greece will not be able to make next tranche of debt repayment to the International Monetary Fund (IMF), as the country has no money to pay, the Interior Minister said. “The four installments for the IMF in June are 1.6 billion euros ($1.8 billion), this money will not be given and is not there to be given,” Nikos Voutsis told Greek Mega TV’s weekend show on Sunday. Asked about the... 

Nikos Filis, parliamentary spokesman of Greece’s Syriza Party. The Greek government says the repayment of its debt to the International Monetary Fund (IMF) scheduled for early next month will not be possible unless a deal is reached between Athens and its international creditors for unblocking a bailout fund. The parliamentary spokesman for Greece’s ruling Syriza Party said Wednesday that the government... 

A new report shows that the economy of Greece under SYRIZA has slipped back into recession after having contracted by 0.2 percent during the first quarter of the current year. The report was released by the national statistics agency, ELSTAT, on Wednesday, showing the second consecutive quarterly fall in Greece’s national output, after it had grown for most of 2014, AFP reported. The downturn, the...