Page 8 - Greece Crisis

Greek PM tells voters rejecting austerity will yield better deal

This was hours after he made a fresh bid for aid as the nation sank deeper into financial misery

Greek referendum poll shows lead for "No" vote

A majority of Greeks would vote No to the terms of a proposed bailout deal by foreign lenders but the lead narrowed significantly after banks were closed this week, according to an opinion poll published on Wednesday.

Fitch downgrades Greece's rating as default looms

Fitch cut its long-term rating on Greece to 'CC' from 'CCC' amid turmoil over the country's debt negotiations, that have led to fears that the country could make an exit from the euro zone.

Greece deal possible before July 20 bonds payment: euro zone official

A new bailout deal for Greece could be agreed in time for the country to meet a July 20 deadline for the repayment of 3.5 billion euros ($3.9 billion) of bonds to the European Central Bank, a euro zone official said on Wednesday.

Greece seeks new EU loans after IMF debt default

Greece lurched deeper into crisis today as European finance ministers prepared to consider a request for new loans in a last-ditch effort to keep the country in the eurozone after it defaulted on a key payment and a bailout keeping its economy afloat expired. Cash-strapped Greece became the first developed country to default on the International Monetary Fund after missing a 1.5 billion euro (USD 1.7 billion) payment yesterday, as efforts to find a compromise with its EU lenders came to naught. The missed payment underscored the failure of more than five months of wrangling between Greece's left-wing government and its creditors to reshape the country's bailout and prevent it dropping out of the eurozone. But talks were set to resume today after Athens asked for a new two-year aid plan -- the third in five years -- as ratings agencies cut their ratings on Greece's debt, predicting it will return to recession this year. Athens is asking for a further 29.1 billion euros from the ...

Greece is not the only issue plaguing the IT sector

IT sector is facing structural issues, such as pricing pressure as well as a bias towards legacy tech even as the competition is moving to digital tech

At least 20,000 pro-bailout supporters rally in Athens

Thousands of people rallied in Athens today in support of a bailout deal with international creditors which has been rejected by Prime Minister Alexis Tsipras, leaving Greece on the brink of default. At least 20,000 people, many waving European and Greek flags and blowing whistles, gathered in front of parliament in Syntagma square five days before a referendum on whether or not to accept the bailout. The cry "resign!" sounded repeatedly through the crowds, with families, businessmen and the retired braving the rain to vent their anger against Tspiras and his radical left Syriza party. Negotiations with Athens's creditors fell apart after Tsipras called a shock referendum on their proposals, and demonstrators were furious too with Finance Minister Yanis Varoufakis. "Don't you Varoufuck Greece" read one banner held aloft, while another read "Greece is Europe". Tspiras was forced to impose capital controls after news of the breakdown in talks sent anxious Greeks rushing to ATMs to .

Greece defaults on IMF payment, seeks more time

Greece's last-minute overtures to international creditors for financial aid on Tuesday were not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund.

Greece seeks two-year bailout programme

The government would continue negotiations to seek a "viable agreement" within the euro zone, it added

Grexit schmexit

Muted markets validate EU hardball with Athens

Anti-austerity protests in Greece as bank shutdown bites

Tens of thousands of Greeks rallied on Monday to back their leftwing government's rejection of a tough international bailout after a clash with foreign lenders pushed Greece close to financial chaos and forced a shutdown of its banking system.

Despite Lagarde's initial reluctance, IMF on the hook for Greece

As French Finance Minister in 2010, Christine Lagarde opposed the involvement of the International Monetary Fund in Greece.

In? Out? In between? A Greek legal riddle for EU

The president of the European Commission, Jean-Claude Juncker, has told Greeks that saying 'No' to a bailout deal would be a vote to ditch the euro. Greece's Finance Minister Yanis Varoufakis has said Greece had no intention of quitting and cannot be forced out.

Greece crisis: Govt wary of capital outflows, toll on exports

The crisis likely to hit India's foreign exchange reserves

IMF 'ready to provide assistance' in Greek crisis: Lagarde

IMF chief expressed disappointment that talks broke down on between Athens and its creditors

Greeks defiant as clock ticks down in debt talks

Greece's ruling Syriza party dismissed reform demands from the country's international creditors as "blackmail" on Thursday as crisis talks to avert a debt default and a euro zone exit entered a critical phase.

More time may be needed to reach Greece deal: Euro FMs

Finance ministers say preparing for lengthy negotiations that might still fail to break the impasse

Rajan says Indian economy will see through any impact of Greece crisis

Says one factor helping India is its stronger foreign exchange reserves

No Greek deal weighs on European stocks, makes Bunds appealing

Persistent concerns of Greece leaving the euro weighed on European stocks on Thursday, with the lack of progress in negotiations on a cash-for-reform deal for Athens pushing investors towards safe-haven German Bunds.

Creditors set bailout ultimatum for defiant Greeks

Negotiations to avert a Greek debt default stumbled on Wednesday and euro zone finance ministers accused Athens of refusing to compromise despite a deadline next week that could put it on a path out of the euro zone.