Page 5 - Greece Crisis

Grexit stage left

Tsipras U-turn only lowers short-term Grexit risks

Daniel Gros: Europe's Greek failure

Last year, it seemed that saving Greece was within reach - until a clash of narratives derailed progress

New Greece reform plan to stay in euro cheers France, Italy

Fresh Greek reform proposals submitted to eurozone partners were cheered by France and Italy today, raising hopes that a last-ditch compromise could be reached to prevent a dreaded "Grexit". The plan handed to eurozone partners by Prime Minister Alexis Tsipras's administration just two hours before a midnight deadline will be submitted to lawmakers in Greece for a vote. The heads of the EU, IMF and European Central Bank were also to discuss the package later today before a critical meeting of eurozone finance minister tomorrow. Tsipras has conceded ground on major sticking points including tax and pensions, drawing encouragement from France and Italy - and a terse, neutral response from the normally hardline Germany. A make-or-break summit bringing together leaders of all 28 EU nations, not just the 19 that use the euro, is scheduled for today, but might not be needed if an agreement is reached beforehand. Eurozone countries must decide whether to accept Greece's reform plan in ..

Greeks hope for deal after latest bailout proposals

Greeks awoke on Friday hoping their government would finally seal a cash-for-reforms deal with its international creditors after Prime Minister Alexis Tsipras offered last-minute concessions to try to save the country from bankruptcy.

Greece sends reform plan to EU promising new tax hikes

The Greek government sent a package of reform proposals to its euro zone creditors on Thursday in a race to win new funds to avert bankruptcy and will seek a parliamentary vote on Friday to endorse immediate actions.

Deadline day for 'last chance' Greece bailout plan

Greece was to submit a detailed bailout request to its EU partners in the eurozone today in a last-ditch effort to save its collapsing economy and its membership in the European single currency.

Draghi says Greece solution difficult even as Tsipras to lay out reforms

European Central Bank President Mario Draghi has voiced unprecedented doubts about the chances of rescuing Greece from bankruptcy as Greek Prime Minister Alexis Tsipras was due to put forward last-ditch reform proposals on Thursday.

A new Greece programme needs debt restructure: Christine Lagarde

International Monetary Fund Managing Director Christine Lagarde has said that a new program to prop up Greece's finances would require creditors to restructure debt.

Greek banks to stay closed until Monday: Finance ministry

Greek banks will remain closed until Monday, the finance ministry said as the government raced to come up with a new proposal to present to creditors in a last-minute drive to avert a eurozone exit.

Greek banks face closures, bailout or not

Some large Greek banks may have to be shut and taken over by stronger rivals as part of a restructuring of the sector that would follow any bailout of the country, European officials have told Reuters.

Greece seeks new EU loan deal to avert collapse

STRASBOURG/BRUSSELS (Reuters) - A race to save Greece from bankruptcy and keep it in the euro gathered pace on Wednesday when Athens formally applied for a three-year loan and European authorities launched an accelerated review of the request.

Greece races against clock to submit reform proposal

Greece submitted a request for aid from Europe's bailout fund today, and is rushing to detail a plan of economic reforms that creditors want to see this week if they are to save the country from financial collapse and keep it in Europe's joint currency. Greek Prime Minister Alexis Tsipras earned both cheers and jeers as he addressed lawmakers at the European Parliament, where he said his country is seeking a deal that might bring a definitive end to his country's financial crisis, not just a temporary stop-gap. "We need to ensure the medium-term funding of our country with a development and growth program," Tsipras told the lawmakers gathered in Strasbourg, France. Greece submitted a written request for a new support program from Europe's bailout fund today, according to Michel Reijns, the spokesman for the eurozone's top official, Jeroen Dijsselbloem. Greece needs to back that up by presenting by the end of Thursday a detailed, cost-assessed plan on the economic measures it would

Tsipras pleads for fair deal for Greece in EU parliament

Greek Prime Minister Alexis Tsipras pleaded in the European Parliament on Wednesday for a fair deal to keep his country in the euro zone, acknowledging Greece's own responsibility for its plight, after EU leaders gave him five days to come up with reforms.

Obama speaks with Tsipras, Merkel about Greek crisis

President Barack Obama analysed the Greek situation in telephone calls to Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel, the White House said.

Oil prices down in Asia as Greece and China weigh

Oil prices fell in Asia today on fears about Greece's future in the eurozone after it was hit with a bailout reform ultimatum, while analysts said the bloodbath in Chinese equities was spilling into other markets.

Greece clings to euro lifeline as pessimism clouds talks

Greece is asking its euro zone partners for an interim solution to its funding needs that would cover the rest of July while a long-term deal is sought

Beyond the referendum

Now, EU has to face the challenge of Greece's exit

Greece's credit proposal based on last week plan

An euro zone official said no formal proposal for credit had been submitted on Tuesday

White House calls on Greece, EU to find compromise

The White House has urged Greece and EU leaders to find a compromise to keep the cash-strapped country in the eurozone, after Greeks voted resoundingly to reject an austerity-based bailout. "The referendum is over, but our view here at the White House remains the same," said spokesman Josh Earnest. EU and Greek officials need "to agree to a package of reforms and financing that would allow Greece to be on a path toward debt sustainability but also economic growth," Earnest told reporters. They should do so "in a way that would allow Greece to remain part of the eurozone," he said. "This is a European challenge to solve." It was the first official US comment on Sunday's referendum, in which Greeks voted by a 61 per cent majority to reject a bailout deal from the European Union that required more austerity and reform, handing a victory to the ruling radical Syriza party. President Barack Obama spoke by phone with French President Francois Hollande about keeping Greece in the ...

Greece faces last chance to stay in euro as cash runs out

The Greek govt has an interest in coming up with serious and credible solutions soon, says Eurogroup chairman