Page 6 - Greece Crisis

'Door open to discussions' on Greece: Hollande, Merkel

French President Francois Hollande and German Chancellor Angela Merkel said today the door was open for a return to debt negotiations with Greece, but called on Athens to make "serious" proposals. "The door is open to discussions and it is now up to the government of Alexis Tsipras to make serious, credible proposals so that this willingness to stay in the eurozone can translate into a lasting programme," Hollande said. "I stress the fact that time is running out and there is urgency -- urgency for Greece and urgency for Europe," he said after meeting Merkel in Paris a day after Greek voters rejected bailout proposals by international lenders. Merkel echoed Hollande's comments that the door was open to further talks to resolve the debt crisis, but said conditions on returning to talks for a new rescue package "have not yet been met". "And that is why we are now waiting for very precise proposals from the Greek prime minister, a programme that will allow Greece to return to ...

Putin, Hollande discuss Greek referendum

Russian President Vladimir Putin and President of France Francois Hollande discussed over phone the results of Sunday's referendum in Greece on Tuesday, media reported.

Greek PM likely to present new proposals at Eurozone meeting

Greek Prime Minister Alexis Tsipras is expected to announce new proposals at an emergency meeting of the Eurozone on the growing Greek debt crisis.

Greeks 'deserve better': Finance Minister Euclid Tsakalotos

Greeks declared in a weekend referendum that they "deserve better" and "cannot accept a non-viable solution" to the country's debt crisis, new Finance Minister Euclid Tsakalotos said upon taking office.

Fidel Castro congratulates Greek PM on referendum result

Former Cuban president Fidel Castro congratulated Greek Prime Minister Alexis Tsipras for his "brilliant political victory" in the country's referendum, which saw voters deliver a resounding 'No' to more austerity.

Back aid for Greece but Athens must reform: Spain PM

Spain's conservative Prime Minister Mariano Rajoy said he backed aid for Greece but not without "responsibility" and reforms on Athens' part, a day after Greeks voted decisively against more austerity in a referendum.

Germany, France demand 'serious' proposals from Greece

Germany and France called on Greece to make detailed proposals to revive bailout talks, a day after Greek voters defiantly rejected creditors' demands for further austerity, plunging Europe into crisis.

Greek FM Yanis Varoufakis resigns after 'No' vote

Varoufakis, who often clashed with creditors in negotiations over the past months, announced his resignation on Twitter

Top 10 debtor countries owe 86% of total IMF loans

Amid the Greek debt crisis, Business Standard takes a look at other countries and regions' debt from the International Monetary Fund

Why Indian markets remained unscathed by Greece

Fall in oil prices, adequate forex reserves and domestic institutional buying help Indian markets buck the trend

Omkar Goswami: Why Grentry augured Grexit

With the Greeks voting "No", the country's exit from euro zone seems inescapable. Yet, it was inevitable long before the latest drama

End game theory

Greek "No" vote means ECB can no longer sit on fence

After 'No' vote, come up with serious proposals: France to Greece

French Finance Minister Michel Sapin on Monday asked the anti-austerity Greek government to come up with serious and strong proposals to reach a crucial deal as the "No" vote in Sunday's referendum "does not fix anything".

Govt says India insulated from Greece fallout; rupee may get hit

With Greeks' rejection of rescue package from creditors spooking markets, the government today asserted that India is well insulated from the crisis but rupee may be affected due to the outward flight of investment. "This is a drama which is going to play out for sometime. We are well protected in at least three ways. Our macro- economic situation is much more stable. We have (forex) reserves. We are an economy which is still a very attractive investment destination. So I think we are relatively well insulated," Chief Economic Advisor Arvind Subramanian told reporters here today. Greeks had yesterday rejected a rescue package from its international creditors, throwing the future of the country's Eurozone membership in doubt. "As for the crisis itself, it is going to going to be long and prolonged. Tomorrow is a big meeting of the German and the French head of the states. Let's see, it is up to Europe to respond," he said. On the likely impact of the crisis on Indian economy, he ...

Tsipras says Greeks were 'brave' in rejecting bailout referendum

Greek Prime Minister Alexis Tsipras has said the people of Greece made a "brave choice" in rejecting the conditions of the international bailout referendum.

Greek conservative opposition chief Samaras resigns

Greece's conservative opposition chief Antonis Samaras has announced his resignation after the country was on course to soundly reject further austerity cuts in a referendum.

Eurozone summit on Greece confirmed for tomorrow: Tusk

Eurozone nations will hold a summit tomorrow to discuss the Greek referendum result, EU President Donald Tusk said, after the German and French leaders called for a meeting.

Greeks say 'No' to bailout, show partial poll results

Rejecting austerity terms could eventually lead to the country's exit from the euro zone

Opinion polls show 'No' ahead in Greek bailout referendum

Rejection of creditors terms will set the country on a path out of the euro

Abheek Barua & Bidisha Ganguly: Greece's moment of reckoning

The Greek leadership is trying to convince the people that voting "no" would not necessarily lead Greece out of the euro