Page 7 - Greece Crisis

Greece's voters decide euro future in too-close-to-call poll

Greeks voted today in a tightly fought referendum on whether to accept worsening austerity in exchange for more bailout funds, or reject it in a gamble that could see it crash out of the euro.

Greeks deciding 'destiny' in referendum: PM

Greece voted in a tightly fought referendum today that Prime Minister Alexis Tsipras said would determine its "destiny" in the eurozone, as the debt-laden EU country teetered on the brink of financial collapse.

Italy PM says Europe must restart talks after Greek vote

Whatever the outcome of Greece's knife-edge referendum, Europeans must "start talking to each other again", Italian Prime Minister Matteo Renzi told a newspaper today. "When you see a pensioner crying in front of a bank," he said referring to a striking picture taken yesterday by AFP of 77-year-old Giorgos Chatzifotiadis in Greece's second city Thessaloniki, "you realise that a country as important for the world and its culture as Greece cannot end up like this," he told the Il Messaggero daily. He said as soon as today's vote was over "we must start talking to each other again - no one knows that more than (German Chancellor) Angela Merkel." Berlin has taken a particularly hard line on Greece, accusing Athens' radical government of walking out on negotiations by calling the referendum. Renzi, who has tried to steer a middle course between Athens and its creditors, added, "Of course it is impossible to save Greece without the engagement of the Greek government and pension reforms,

Athens eyeing deal to tax assets hidden in Swiss banks: report

Athens wants a tax amnesty deal for Greeks who have stashed cash in Swiss banks, in a bid to bring much-needed revenue to the debt-laden country, a Swiss newspaper reported today.

A family divided: Emotions run high ahead of Greek vote

Dimitris is voting "yes" because he fears Greece would be in danger if it leaves the European Union. His daughter Alexandra is voting "no" because she is tired of richer European nations bossing Greece around. His son, Nikolas, is on his side and he thinks polarized Greece may be on the verge of a civil war while his wife Dimitra distrusts both the Yes and the No campaigns and doesn't plan to vote in today's momentous Greek referendum. Meet the Danikoglous, an intense, articulate Greek family divided over whether or not the country should accept conditions by creditors attached to loans it needs to avoid default and a banking collapse. The ballot question does not address whether Greece should abandon the euro currency or leave the 28-member European Union, but many voters believe those issues are at stake. In their apartment in the working-class Athens neighborhood of Tavros, the family members squabble over espresso frappes and fruit juice. But they don't fight. They are united

Europeans tried to block IMF debt report on Greece: sources

Euro zone countries tried in vain to stop the IMF publishing a gloomy analysis of Greece's debt burden which the leftist government says vindicates its call to voters to reject bailout terms, sources familiar with the situation said on Friday.

Greeks deeply divided heading into crucial vote

Tens of thousands of Greeks took to the streets on Friday in rival rallies that laid bare the deep divide heading into a referendum that may decide the country's future in Europe's single currency.

Sensex advances for third straight week

Ends at highest close in two months, FIIs turn buyers amidst Greece crisis

T N Ninan: A financial slave state

Perhaps Angela Merkel knows the Greeks better than their prime minister, Alexis Tsipras, and finance minister, Yanis Varoufakis. Since the Greek referendum was called on whether to accept still more austerity in return for yet another bail-out, the mood in Greece would appear to have swung quite dramatically. What was strong sentiment in favour of a "No" vote (ie to not accept the terms of a bail-out, and therefore inevitably to leave the euro currency area) has given way in a matter of days to an even split in the latest Bloomberg poll, with 43 per cent intending to vote "No" on Sunday and 42.5 per cent preferring "Yes", with the rest undecided. Another poll says the "Yes" vote is already 47 per cent. In other words, the Greeks (already staring at closed doors of banks) may be pulling back from the brink, for fear of unimaginable chaos.While it is now impossible to call which way the vote will go, the straw in the wind is the fact that the overwhelming majority (more than 80 per cent)

'Yes' camp takes slim lead in Greek bailout referendum poll

Supporters of Greece's bailout terms have taken a wafer-thin opinion poll lead over the 'No' vote backed by the leftist government, 48 hours before a referendum that may determine the country's future in the euro zone.

What looms for Greece after referendum?

Greek Prime Minister Alexis Tsipras's plan to hold a referendum on Sunday on creditors' demands for austerity has prompted a breakdown in talks with lenders, forced Greece to shut banks and left its future in the euro in doubt.

Italy's president calls for 'balanced' solution to Greek crisis

Italian President Sergio Mattarella said on Thursday he hoped a "balanced" deal could be found allowing Greece to solve its economic crisis without leaving the single European currency or the European Union.

Greece could need over $55.42 billion over next 3 years: IMF

Financing needs for Greece could add up to over $55.42 billion (50 billion euros) over the period from October 2015 to end 2018 in order to keep the country afloat, the International Monetary Fund (IMF) said in a staff report.

Oil prices ease ahead of Greece vote

Oil prices eased in Asia today ahead of a weekend bailout reform referendum in Greece that could determine its future in the eurozone.

EU, IMF heap pressure on Greece days ahead of crucial vote

The EU and IMF heaped pressure on Greece today, warning of the perilous state of the country's finances, days ahead of a controversial referendum that could determine its future in the eurozone.

Greece crisis: Possible scenarios and the opportunity

It is possible that Greece's troubles will trigger a disorderly sequence of exits from the euro currency union

IMF's Lagarde says Greece must reform before debt relief

One day after Greece became the first developed economy to default on a loan with the International Monetary Fund, the head of the international lender on Wednesday suggested Greece should move to reform its economy before its European creditors give it a break on its debt.

Defiant Greek PM vows referendum will go ahead

Greek Prime Minister Alexis Tsipras today vowed to go ahead with a controversial bailout referendum despite pressure from European leaders as they declined to consider any fresh debt offer before Sunday's vote.

Greece: IMF says payment delays no help to nations in crisis

The International Monetary Fund said today that allowing a borrower to delay repayment, as Greece has requested, is generally ineffective in helping a country overcome crisis.

Moody's cuts Greece rating deeper into junk territory

Moody's has cut its credit rating for Greece to a deep-junk "Caa3", warning it is now less likely that official creditors will support the country, whatever happens in Sunday's referendum.