Europe's Populists Rally To Greece's Side

06/29/2015 08:43 pm ET | Updated Jun 30, 2015

Populist parties in Spain, Ireland and other austerity-stricken European countries are flocking to support the Greek government’s defiance of its creditors, and to encourage Greek citizens to vote against the creditors’ bailout proposal in a July 5 referendum.

Spain’s ascendant left-populist party Podemos called for a solidarity rally with Greece’s Syriza-led government, drawing hundreds of attendees in Madrid on Saturday, the Wall Street Journal reported.

Francisco Ramon, an unemployed technology worker, told the Wall Street Journal the outcome of Greece’s struggle with its creditors could affect Spain’s ability to advance its own economic prospects.

“What’s happening in Athens now is decisive not only for Greece, but also for Spain and for all of Europe,” Ramon said.

Syriza’s decision to call a referendum vote on the creditors’ proposal also elicited the endorsements of Gerry Adams, the leader of Ireland’s left-wing opposition party Sinn Fein; Italy’s contrarian comedian-turned-politician Beppe Grillo; and other critics of eurozone austerity policies.

And in an indication of how populist challenges to the European status quo cross ideological lines, Marine Le Pen, leader of France’s far-right National Front party, hailed the move as a reminder to “the European elite that in democracy, there are people, and they are the only sovereigns.” Le Pen stopped short of embracing Syriza’s position in her remarks. The National Front has many positions that put it at odds with Syriza and other left-wing parties like it, including its explicit support for France’s departure from the eurozone and staunch opposition to immigration.

But nowhere do expressions of solidarity with Syriza resonate as much as in Spain, where Podemos is seen as a credible threat to the ruling conservative government. While Spain’s austerity policies have won it plaudits from eurozone leaders, they have proven less popular at home. Podemos has taken advantage of dissatisfaction with the country’s high unemployment rate to win mayoral races in Barcelona and Madrid, Spain’s two largest cities. The two wins could portend a victory in general elections later this year.

Analysts believe Spain’s ruling conservatives have taken a hardline approach in negotiations with Greece at least in part out of fears that a bailout deal that is too accommodating for Greece will be a boon to Podemos at the polls. Podemos’ leader Pablo Iglesias told the Wall Street Journal in an interview earlier this month that consequently, Podemos’ rise has hurt Syriza in negotiations. “Since Podemos has existed, defeating the government of Greece has been converted into another instrument for trying to pressure us,” Iglesias said.

On Saturday, Greece’s Prime Minister Alexis Tsipras called for a July 5 referendum on Greece’s creditors’ latest bailout proposal, after dismissing the offer as an “ultimatum that insults the Greek people.”

The support from fellow left-wing groups in other countries comes amid mounting pressure on Greece from eurozone officials and financial institutions after the announcement of the referendum. The European Central Bank halted its emergency lending to Greek banks, prompting the Greek government to limit bank withdrawals to prevent banks from running out of cash -- a procedure known as imposing “capital controls.”

Greece faces a Tuesday deadline for a 1.6 billion-euro debt repayment to the IMF that it needs bailout money to pay. The International Monetary Fund has said it will consider any late payment tantamount to default.

If the ECB declines to restore its lending to Greek banks, Greece could be forced to leave the eurozone, an outcome known as a "Grexit."

European Commission president Jean-Claude Juncker said on Monday that a Greek “no” vote on the referendum would amount to rejection of Greece’s membership in the eurozone.

According to tweets from his staff members, Tspiras in a television appearance on Monday maintained that a “no” vote on the referendum would strengthen Greece’s hand at the negotiating table, not begin the process of a Grexit. He implied that Greece’s differences with the other eurozone nations were relatively narrow on budget savings, but that the two sides were further apart on matters like debt relief and labor union rights.

Greek Finance Minister Yanis Varoufakis said the government would seek an injunction from the European Court of Justice to force the ECB to resume its emergency lending to Greek banks.

07/15/2015 3:26 PM EDT

Peaceful Rally Interrupted By Clashes

Danae Leivada reports from Athens:

Members of the Public Sector Union (ADEDY) and Leftist groups rallied in Athens' Syntagma Square on Wednesday night to remind the government Greeks answered the July 5 referendum on a new bailout program with a resounding "Oxi" or "No."

People gathered on the central square as lawmakers were scheduled to vote in parliament on a bill outlining numerous reforms the country's creditors demanded in return for fresh bailout funds.

The reforms were met with dismay and outrage by the protesters. One of them described the proposal as "a treacherous and harsh agreement." Another demonstrator told HuffPost the new deal was "worse than the ones that came before it."

While the demonstration started out peacefully, it was abruptly interrupted by anarchists who clashed with police in front of the parliament building.

07/15/2015 2:45 PM EDT

PHOTOS: Syntagma Square

Danae Leivada was in Athens' Syntagma Square before the clashes started.

1

2

4

5

The banner reads "No sacrifices for agreements with imperialists. No to blackmail and terrorism. Resistance and struggle against old and new bailouts -- Left Anti-Imperialist Co-Operation"

white poster

The poster reads "STOP to old and new bailout memoranda -- Workers' Solidarity"

yellow banner

The banner reads "Nationalize Banks -- Socialist Workers' Party"

07/15/2015 2:18 PM EDT

Clashes At Anti-Austerity Protests

The Associated Press reports:

07/15/2015 10:39 AM EDT

PHOTOS: Civil Servants On Strike

greece

greece

Protester holds a banner during a protest in central Athens, marking a 24-hours public sector and pharmacists strike on July 15, 2015 against the new package of austerity measures. (ANDREAS SOLARO/AFP/Getty Images)

07/15/2015 10:29 AM EDT

Secretary General Of Social Security To Hand In Resignation

George Romanias, the Secretary General of Social Security in Greece, announced he plans to resign the coming days, HuffPost Greece reports.

Romanias said he disagrees with the measures which will be introduced as part of the country's fresh bailout program. Romanias also claimed he, nor Deputy Social Security Minister Dimitris Stratoulis were consulted during the drafting of the bill of reforms Parliament is voting on today.

07/15/2015 10:26 AM EDT

'No To Blackmail'

President of the Greek Parliament Zoe Konstantopoulou urged lawmakers ahead of Wednesday's vote on a fresh bailout program for the country not to let "blackmail" succeed.

Konstantopoulou pointed at an IMF document that surfaced on Tuesday and indicated that Greece's debt is so sizable the country needs debt relief and a hirty-year grace period on servicing its debt.

“It is our duty to ask of our European partners to serve their obligations”, Konstantopoulou said, according to HuffPost Greece.

07/15/2015 9:46 AM EDT

Photos: Parliament Debates Passing Key Reforms

greeceGreek Finance Minister Euclid Tsakalotos (L) speaks with Deputy Prime Minister Yannis Dragasakis (R) during a parliament session in Athens, on July 15, 2015. (ANGELOS TZORTZINIS/AFP/Getty Images)

greeceGreek Prime Minister Alexis Tsipras attends his Syriza party's parliamentary group meeting at the Greek parliament in Athens on July 15, 2015. (LOUISA GOULIAMAKI/AFP/Getty Images)

07/15/2015 9:20 AM EDT

Political Cartoons Take On Greece And Eurozone

A flurry of political cartoons from around the globe tackles Greece's debt crisis with a sharp mix of comedy and tragedy, with a nod to Greek dramatic tradition.

The cartoons pull no punches -- one likens the nation to an ISIS hostage -- and range from heartbreaking to scathing -- especially for Merkel.

From American cartoonist Jim Morin

Read the full story here.

07/15/2015 8:33 AM EDT

Greece's Deputy Finance Minister Resigns

Deputy finance minister Nadia Valavani has resigned ahead of a vote in Greek parliament on whether to approve the reforms necessary for a bailout.

07/14/2015 3:50 PM EDT

IMF May Walk

The IMF's new memo calling for dramatic debt relief for Greece indicates that unless its requests are heeded, the IMF will not continue to participate in Greece's bailouts.

The Financial Times reports:

The [IMF] memo argues that only through large-scale debt relief — something eurozone officials have fiercely resisted — could Greece see its debt fall to levels where it would be able to return to the financial markets.

“Greece’s debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far,” the memo reads.

Under its rules, the IMF is not allowed to participate in a bailout if a country’s debt is deemed unsustainable and there is no prospect of it returning to private bond markets for financing. The IMF has bent its rules to participate in previous Greek bailouts, but the memo suggests it can no longer do so.

","short_text":"

Ian Bremmer quips:

If Merkel had led Iran negotiations, Iranians would have never secured right to nuclear enrichment. Or a functioning economy.

— ian bremmer (@ianbremmer) ...Read More"},{"id":"556","created":"07/14/2015 9:44 AM EDT","title":"German Finance Minister Doubling Down On Grexit","tweet_link":"556_german-finance-minister-doubling-down-on-grexit","entry_text":"

The Wall Street Journal reports:

“There are many people inside the German government…who believe that this would be, or could be the better solution for Greece and the people in Greece,” Mr. Schäuble told journalists a day after a crisis meeting of eurozone leaders here opened the door for as much as €86 billion in rescue loans for the debt-ridden country. He didn’t explicitly say whether he was among those who hold that opinion.

Mr. Schäuble said such an exit from the currency union would of course require “that Greece takes that decision itself.”

--Daniel Marans

","short_text":"

The Wall Street Journal reports:

“There are many people inside the German government…who beli...Read More"},{"id":"554","created":"07/14/2015 9:40 AM EDT","title":"Schäuble 'Killed The Euro As We Know It'","tweet_link":"554_schaeuble-killed-the-euro-as-we-know-it","entry_text":"

Angel Ubide, a senior fellow at the Peterson Institute for International Economics and former economist at the IMF thinks that the deal the Greek government struck with its creditors is good for Greece and the eurozone.

But Ubide argues that German finance minister Wolfgang Schaüble's willingness to use Grexit as negotiating tactic \"killed the euro as we know it.\"

The tumultuous and confusing process that has led to the latest agreement has been very negative for the euro because it has ended the impression of the irreversibility of the euro. When German Finance Minister Wolfgang Schäuble decided to use Grexit as a negotiating tool, he killed the euro as we know it. This is as important, potentially, as the Deauville declaration that opened the door to pricing debt restructuring in periphery bonds and sharply tightened financial conditions. From now on, markets will have to incorporate the possibility of a euro exit as a plausible scenario, whenever there is a crisis in the euro area. This development could have unpredictable negative consequences in the future. One day the Eurogroup will come to regret it.

Read the whole blogpost here.

--Daniel Marans

","short_text":"

Angel Ubide, a senior fellow at the Peterson Institute for International Economics and former economist at the IMF thinks that the deal the Greek government struck with its creditors is good for Greece and the eurozone.

But Ubide argues that Germ...Read More"},{"id":"552","created":"07/14/2015 8:49 AM EDT","title":"How Germany Beat Greece In Liar's Poker","tweet_link":"552_how-germany-beat-greece-in-liars-poker","entry_text":"

Daniel Marans reports:

Many observers are wondering how the left-populist renegades of Greece's Syriza party, which rose to power in January on the promise of delivering relief from austerity and renewed its mandate with a massive victory in the July 5 referendum, managed to negotiate a bailout deal on Monday that is substantially worse than what was available to Greece before Syriza took office.

The answer is surprisingly simple. Syriza forewent its only potential leverage over Greece’s creditors: the willingness to go through with a “Grexit,” or a Greek exit from the eurozone. Greece was not prepared to shoot the proverbial hostage in negotiations with Germany and the other eurozone nations. In fact, the Greek government was not even ready for the possibility of a Grexit if it was forced on them.

Read the full story here.

","short_text":"

Daniel Marans reports:

Many observers are wondering how the left-populist renegades of Greece's Syriza party, which rose to power in January on the promise of delivering relief from austerity and renewed its mandate with a massive vic...Read More"},{"id":"550","created":"07/14/2015 8:46 AM EDT","title":"IMF: Greece Needs More Debt Relief","tweet_link":"550_imf-greece-needs-more-debt-relief","entry_text":"

A confidential study by the International Monetary Fund says Greece will far more debt relief than what European countries have considered.

Reuters reports:

The updated debt sustainability analysis was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout program of up to 86 billion euros in return for tougher austerity measures and structural reforms.

\"The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date - and what has been proposed by the ESM,\" the IMF said, referring to the European Stability Mechanism bailout fund.

European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept \"deep upfront haircuts\" on their loans to Athens, the report said.

","short_text":"

A confidential study by the International Monetary Fund says Greece will far more debt relief than what European countries have considered.

Read More"},{"id":"548","created":"07/13/2015 3:43 PM EDT","title":"Bailout Leads To Relief And Anger","tweet_link":"548_bailout-leads-to-relief-and-anger","entry_text":"

","short_text":"

"},{"id":"546","created":"07/13/2015 3:27 PM EDT","title":"Syriza's Coalition Partner Says 'No'","tweet_link":"546_syrizas-coalition-partner-says-no","entry_text":"

From the AP:

The Greek government's junior coalition partner says it cannot back the agreement announced Monday between Greece and its European creditors — describing the proposed deal as a \"coup staged by Germany and other countries.\"

Defense Minister Panos Kammenos, leader of the right-wing Independent Greeks party, said he had no plans to leave the government but added he would not join a national unity government.

\"This deal introduced many new issues ... we cannot agree with it,\" Kammenos said after meeting with Prime Minister Alexis Tsipras.

The announcement is a blow to Tsipras' six-month-old government, which is struggling to maintain its majority in parliament.

","short_text":"

From the AP:

The Greek government's junior coalition partner says it cannot back the agr...Read More"},{"id":"544","created":"07/13/2015 12:59 PM EDT","title":" Jack Lew Lauds Debt Deal","tweet_link":"544_-jack-lew-lauds-debt-deal","entry_text":"

U.S. Treasury Secretary Jack Lew lauded Greece's bailout deal with international creditors in a statement on Monday:

Today’s agreement between Greece and its creditors is an important step forward. The agreement provides a basis for restoring trust among the parties and creates the conditions for a path forward for Greece within the Eurozone, which is in the best interests of Greece, Europe and the global economy. It underscores Greece’s commitment to make deep and difficult fiscal and structural reforms, and reflects a commitment by its creditors to provide financial support and help create a path for Greece to return to growth, and achieve debt sustainability. These pledges will require difficult steps by all of the parties and substantial work remains to be done. The United States will remain engaged with all parties in this important period.

As The Huffington Post reported on July 8, while the United States supports a more accommodating approach toward Greece, it has refused to significantly pressure European leaders, so as not to jeopardize Germany's cooperation in isolating Russia.

","short_text":"

U.S. Treasury Secretary Jack Lew lauded Greece's bailout deal with international creditors in a statement on Monday:

Today’s agreement between Greece and its creditors is an important step forward. The agreement provides a basis for...Read More"},{"id":"542","created":"07/13/2015 12:53 PM EDT","title":"Civil Servants Union Calls Strike","tweet_link":"542_civil-servants-union-calls-strike","entry_text":"

#BREAKING Greek civil servants' union calls 24-hour strike for Wednesday

— Agence France-Presse (@AFP) July 13, 2015

","short_text":"

#BREAKING Greek civil servants' union calls 24-hour strike for Wednesday

— Agence France-Presse (@AFP) Read More"},{"id":"540","created":"07/13/2015 12:38 PM EDT","title":"#Greekment Trends","tweet_link":"540_greekment-trends","entry_text":"

Greeks took to Twitter on Monday to react to the news of an agreement between the Greek government and its international creditors over negotiations for a third bailout for the country.

The hashtag #Greekment was trending on Twitter on Monday morning after EU Chief Donald Tusk used the pun in his statement.

While some praised the agreement, many tweeps appeared skeptical about the conditions of the deal.

Some of today's tweets:

I don't know if I should be relieved or absolutely terrified over the #Greekment. I guess I'm somewhere between. At least, we fought.

— Antonia (@lostwallfl0wer) July 13, 2015

Μεγάλη ανακούφιση! Great relief ! Thank you Europe! Greece stays in the eurozone! #greekment #NOGrexit

— Achilleas Ioakimides (@achilleas) July 13, 2015

As a Greek citizen, I will actively support all efforts of the @PrimeministerGR to make true reforms. #bettertogether #Greekment

— Katerina Polyzou (@ptwkate) July 13, 2015

Sometimes you win Sometimes you learn #greekment #EuroSummit #EUsummit #rbnews

— GIANNIS PITTARAS (@jo_pit) July 13, 2015

this is not #greekment ,this is #GRAUCTION

— Stavroula Koukou (@stavroulakouk) July 13, 2015

","short_text":"

Greeks took to Twitter on Monday to react to the news of an agreement between the Greek government and its international creditors over negotiations for a third bailout for the country.

The hashtag #Greekment Read More"},{"id":"538","created":"07/13/2015 11:58 AM EDT","title":"Varoufakis Speaks Out","tweet_link":"538_varoufakis-speaks-out","entry_text":"

Greece's outspoken former finance minister Yanis Varoufakis spoke with the UK's New Statesman in his first interview since stepping down. Varoufakis looked back at months of negotiating with Greece's international creditors and his resignation from the Tsipras government.

\"The situation was worse than you imagined,\" Varoufakis said. \"The complete lack of any democratic scruples, on behalf of the supposed defenders of Europe’s democracy ... To have very powerful figures look at you in the eye and say 'You’re right in what you’re saying, but we’re going to crunch you anyway.'”

Varoufakis had harsh words for the leaders of the Eurogroup, the group of finance ministers of the countries of the eurozone, and in particular for German Finance Minister Schlaube. \"It is all like a very well-tuned orchestra and he is the director,\" Varoufakis said about Schlaube. \"Everything happens in tune. There will be times when the orchestra is out of tune, but he convenes and puts it back in line.\"

Read the full interview here.

","short_text":"

Greece's outspoken former finance minister Yanis Varoufakis spoke with the UK's New Statesman in his first intervie...Read More"},{"id":"536","created":"07/13/2015 11:28 AM EDT","title":"IMF Gives Brief Statement Of Support For New Bailout Deal","tweet_link":"536_imf-gives-brief-statement-of-support-for-new-bailout-deal","entry_text":"

Gerry Rice, director of communications at the International Monetary Fund (IMF), released the following statement on Monday about Greece's new bailout deal:

Following on the Managing Director's participation in the discussions on Greece held in Brussels over the weekend, she briefed the IMF's Executive Board on the outcome as reflected in the Eurozone Leaders' statement published earlier today. The IMF stands ready to work with the Greek authorities and the European partners to help move this important effort forward.

","short_text":"

Gerry Rice, director of communications at the International Monetary Fund (IMF), released the following statement on Monday about Greece's new bailout deal:

Following on the Managing Director's participation in the discussions on Gree...Read More"},{"id":"534","created":"07/13/2015 11:25 AM EDT","title":"PHOTOS: Today In Athens","tweet_link":"534_photos-today-in-athens","entry_text":"

\"greece\"

People stand in a queue to use an ATM of a bank as a person begs for alms, in Athens, Monday, July 13, 2015. Greece reached a deal with its European creditors Monday, pledging stringent austerity to avoid an exit from the euro. (AP Photo/Thanassis Stavrakis)

\"greece\"

A pedestrian passes a poster depicting German Finance Minister Wolfgang Schaeuble outside a bank in Athens, Monday, July 13, 2015. (AP Photo/Thanassis Stavrakis)

","short_text":"


\nPeople stand in a queue to use an ATM of a bank as a person begs for alms, in Athens, Monday, July 13, 2015. Greece reached a deal with its European creditors Monday, pledging stringent austerity to avoid an exit from the euro. (AP Photo/Thanass...Read More"},{"id":"532","created":"07/13/2015 11:09 AM EDT","title":"Syriza MPs Will Meet On Tuesday","tweet_link":"532_syriza-mps-will-meet-on-tuesday","entry_text":"

Members of parliament for Greek Prime Minister Alexis Tsipras' SYRIZA party will meet on Tuesday morning to discuss the agreement with Greece's international creditors, HuffPost Greece reports.

The group will also debate the announcement by the Syriza's \"Left Platform\" wing today that its members may vote against the bailout deal when it is put up for a vote in Greece's parliament.

","short_text":"

Members of parliament for Greek Prime Minister Alexis Tsipras' SYRIZA party will meet on Tuesday morning to discuss the agreement with Greece's international creditors, Read More"},{"id":"530","created":"07/13/2015 10:40 AM EDT","title":"'Submit To German Rule Or Leave'","tweet_link":"530_submit-to-german-rule-or-leave","entry_text":"

Professor Paul De Grauwe of the London School of Economics tweets about today's deal:

Template of future governance of Eurozone being written in Brussels: submit to German rule or leave.

— Paul De Grauwe (@pdegrauwe) July 12, 2015

","short_text":"

Professor Paul De Grauwe of the London School of Economics tweets about today's deal:

Template of future governance of Eurozone being written in Brussels: submit to G...Read More"},{"id":"528","created":"07/13/2015 10:29 AM EDT","title":"Greek Opposition Party Leader Weighs In","tweet_link":"528_greek-opposition-party-leader-weighs-in","entry_text":"

“As we also stated in the Parliament, we unfortunately had to make a last-minute choice between a deal and a non-deal which would lead to utter catastrophe”, New Democracy leader Evangelos Meimarakis said. “By choosing to make an agreement, Greece took a breath so as to try and find its pace withing Europe with seriousness and responsibility.”

Read more (in Greek) at HuffPost Greece.

","short_text":"

“As we also stated in the Parliament, we unfortunately had to make a last-minute choice between a deal and a non-deal which would lead to utter catastrophe”, New Democracy leader Evangelos Meimarakis said. “By choosing to make an agreement, Greec...Read More"},{"id":"526","created":"07/13/2015 10:29 AM EDT","title":"'Gunboat Diplomacy'","tweet_link":"526_gunboat-diplomacy","entry_text":"

The sad reality of #Greece & #Europe : Its not long now until historians draw a parallel with historical episodes of “gunboat diplomacy.”

— Mohamed A. El-Erian (@elerianm) July 13, 2015

","short_text":"

The sad reality of #Greece & #Europe : Its not long now until histor...Read More"},{"id":"524","created":"07/13/2015 10:26 AM EDT","title":"The Week Ahead","tweet_link":"524_the-week-ahead","entry_text":"

This week's calendar:

SocGen: the Greek timeline updated after the Euro Summit pic.twitter.com/K03Gtmg4R1

— Fabrizio Goria (@FGoria) July 13, 2015

","short_text":"

This week's calendar:

SocGen: the Greek timeline updated after the Euro Summit pic.twitter.com/K03Gtmg4R1

— Fabrizio Goria (@FGoria) Read More"},{"id":"522","created":"07/13/2015 10:07 AM EDT","title":"French Prime Minister Celebrates","tweet_link":"522_french-prime-minister-celebrates","entry_text":"

French Prime Minister Manuel Valls voiced jubilation in a tweet on Monday after Greece's bailout deal was announced.

Συμφωνία ! Accord ! Η Ελλάδα είναι η Ευρώπη ! La Grèce, c'est l'Europe ! MV

— Manuel Valls (@manuelvalls) July 13, 2015

","short_text":"

French Prime Minister Manuel Valls voiced jubilation in a tweet on Monday after Greece's bailout deal was announced.

Συμφωνία ! Accord ! Η Ελλάδα είναι η Ε...Read More"},{"id":"520","created":"07/13/2015 9:38 AM EDT","title":"Stocks Rally After Greek Deal","tweet_link":"520_stocks-rally-after-greek-deal","entry_text":"

Markets are rallying after news of Greece's bailout deal, Business Insider reports. The Dow Jones, Nasdaq and S&P 500 are all up, as well as European stock markets which are posting small gains.

","short_text":"

Markets are rallying after news of Greece's bailout deal, Business Insider reports. The Dow Jones, Nasdaq and S&P 500 are all up, as well as European stock markets which are pos...Read More"},{"id":"518","created":"07/13/2015 9:32 AM EDT","title":"The Story Behind #ThisIsACoup","tweet_link":"518_the-story-behind-thisisacoup","entry_text":"

The Guardian has the full story behind how the hashtag #ThisIsACoup became an international trending topic on Twitter. The hashtag is in reference to the harsh demands being put on Greek Prime Minister Alexis Tsipras, and the belief that creditors were trying to push him from office through these measures.

#ThisIsACoup quickly caught on, now having been tweeted over 200,000 times.

Read the full story here.

","short_text":"

The Guardian has the full story behind how the hashtag #ThisIsACoup became an international trending topic on Twitter. The hashtag is in reference to the harsh demands being put on Greek Prime Minister Alexis Tsipras, and the belief that creditors were...Read More"},{"id":"516","created":"07/13/2015 9:20 AM EDT","title":"Details Of The Deal","tweet_link":"516_details-of-the-deal","entry_text":"

From the Associated Press:

Here is a look at what Greece must do:

— Request continued support from the International Monetary Fund after its current IMF program expires in early 2016.

— Streamline consumer tax and broaden the tax base to increase revenue. Laws on this are due by Wednesday.

— Multiple reforms to the pension system to make it financially viable. Initial reforms are due by Wednesday, others by October.

— Safeguard the independence of the country's statistics agency.

— Introduce laws by Wednesday that would ensure \"quasi-automatic spending cuts\" if the government misses its budget surplus targets.

— Overhaul the civil justice system by July 22 to make it more efficient and reduce costs.

— Carry out product market reforms that include allowing stores to open on Sundays, broadening sales periods, opening up pharmacy ownership, reforming the bakeries and milk market and opening up closed and protected professions, including ferry transport.

— Privatize the electricity transmission network operator unless alternative measures with the same effect can be found.

— Overhaul the labor market. This includes reviewing collective bargaining, industrial action and collective dismissal regulations.

— Tackle banks' non-performing loans and strengthen bank governance.

— Significantly increase the privatization program, transferring 50 billion euros worth of Greek assets to an independent fund, based in Greece, to carry out the privatizations.

— Modernize, strengthen and reduce the costs of Greek administration, with a first proposal to be provided by July 20.

— Allow members of the three institutions overseeing Greece's reforms — the European Central Bank, IMF and European Commission, previously known as the 'troika' — to return to Athens. The government must consult with the institutions on all relevant draft legislation before submitting it to public consultation or to parliament.

— Re-examine, with a view to amend, legislation passed in the last six months that is deemed to have backtracked on previous bailout commitments.

","short_text":"

From the Associated Press:

Here is a look at what Greece must do:

— Request cont...Read More"},{"id":"514","created":"07/13/2015 9:11 AM EDT","title":"Greece Nearly Left Eurozone At 6am","tweet_link":"514_greece-nearly-left-eurozone-at-6am","entry_text":"

The Financial Times has published an account of the Greek debt crisis talks that depicts how close the nation came to leaving the eurozone. After a contentious weekend filled with vitriol between prominent European ministers as well as leaders, a deal was finally hammered out after marathon sessions of talks.

At one point around 6am on Monday, Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed the talks had reached an impasse and were about to leave, only to be confronted by President of The EU Council Donald Tusk who told them \"sorry, but there is no way you are leaving this room.\"

The all-night negotiations also involved humiliation for Tsipras, who was lectured by other heads of government, and heated exchanges between top EU officials.

Read the full account here.

","short_text":"


\nThe Financial Times has published an account of the Greek debt crisis talks that depicts how close the nation came to leaving the eurozone. After a contentious weekend filled with vitriol between prominent European ministers as well as leaders, ...Read More"},{"id":"512","created":"07/13/2015 9:01 AM EDT","title":"Final Deal Reportedly Leaks","tweet_link":"512_final-deal-reportedly-leaks","entry_text":"

The Financial Times' Peter Spiegel shares a screenshot of the alleged deal on Twitter, in which the privatization of Greek assets is addressed:

Just got leaked version of final #Greece agreement. Here's the language on then new €50bn fund. pic.twitter.com/H0g4ib1G5W

— Peter Spiegel (@SpiegelPeter) July 13, 2015

","short_text":"

The Financial Times' Peter Spiegel shares a screenshot of the alleged deal on Twitter, in which the privatization of Greek assets is addressed:

Just got leaked version of final Read More"},{"id":"510","created":"07/13/2015 8:58 AM EDT","title":"Greek Banks To Remain Shut: Report","tweet_link":"510_greek-banks-to-remain-shut-report","entry_text":"

Agence France Presse reports:

#BREAKING Greek banks to remain shut: finance ministry source

— Agence France-Presse (@AFP) July 13, 2015

","short_text":"

Agence France Presse reports:

#BREAKING Greek banks to remain shut: finance ministry source

— Agenc...Read More"},{"id":"508","created":"07/13/2015 8:57 AM EDT","title":"ECB Won't Raise Emergency Funding Rates","tweet_link":"508_ecb-wont-raise-emergency-funding-rates","entry_text":"

The European Central Bank will not increase its emergency liquidity assistance (ELA) to Greek banks, Agence France Presse reports. An increase in the funds is needed to reopen banks, but some analysts say that the ECB is waiting to make sure that the bailout deal agreed on Monday is set to go through before it releases more funding.

#BREAKING ECB says keeps emergency liquidity for Greek banks at current level

— Agence France-Presse (@AFP) July 13, 2015

ECB has failed to reward @atsipras for capitulation. No increase in ELA. Banks to remain closed till at least Wednesday night #GreeceCrisis

— Robert Peston (@Peston) July 13, 2015

My take is #ECB is waiting for #Eurogroup to decide on bridge financing for #Greece. If there's an agrmnt 2day, ELA may be raised even 2moro

— Yannis Koutsomitis (@YanniKouts) July 13, 2015

","short_text":"

The European Central Bank will not increase its emergency liquidity assistance (ELA) to Greek banks, Agence France Presse reports. An increase in the funds is needed to reopen banks, but some analysts say that the ECB is waiting to make sure that the b...Read More"},{"id":"506","created":"07/13/2015 8:15 AM EDT","title":"Greek PM Issues Statement","tweet_link":"506_greek-pm-issues-statement","entry_text":"

Greek Prime Minister Alexis Tsipras issued a statement on Monday to address the bailout deal. In it, assumes responsibility for the agreement and asserts that \"tough decisions\" had to be made to save Greece:

We have been fighting hard for six months now, and we fought until the end to achieve the best possible outcome, an agreement that will enable the country to get back on its feet, and for the Greek people to be able to continue to fight.

We faced tough decisions, tough dilemmas. We assumed responsibility for the decision in order to prevent the most extreme objectives from being implemented—those pushed for by the most extreme conservative forces in the European Union.

The agreement calls for tough measures. However, we prevented the transfer of public property abroad, we prevented the financial asphyxiation and the collapse of the financial system—this was planned to the last detail – having recently been designed to perfection, and in the process of being implemented.

Finally, in this tough battle, we managed to gain the restructuring of the debt and a financing process for the medium-term.

Read the full statement here.

","short_text":"

Greek Prime Minister Alexis Tsipras issued a statement on Monday to address the bailout deal. In it, assumes responsibility for the agreement and asserts that \"tough decisions\" had to be made to save Greece:

We have been fighting har...Read More"},{"id":"504","created":"07/12/2015 4:25 PM EDT","title":"Greek Government Wants Deal To Avoid Meltdown: Official","tweet_link":"504_greek-government-wants-deal-to-avoid-meltdown-official","entry_text":"

The Associated Press reports:

BREAKING: Greek government wants deal with creditors at summit to avoid bank meltdown, says official.

— The Associated Press (@AP) July 12, 2015

","short_text":"

The Associated Press reports:

BREAKING: Greek government wants deal with creditors at summit to avoid bank meltdown, says official.

— The Associated Press (@AP) Read More"},{"id":"502","created":"07/12/2015 2:02 PM EDT","title":"What To Do With Greece's Debt","tweet_link":"502_what-to-do-with-greeces-debt","entry_text":"

The AP reports:

Another issue facing the eurozone's 19 leaders is whether Greece needs debt relief.

A draft document sent to leaders acknowledges \"serious concerns\" over the sustainability of Greece's debts but there doesn't appear to be a consensus on what to do.

The issue, like the idea of a temporary Greek exit from the euro, was bracketed in the document obtained by The Associated Press, meaning it was passed to leaders for their consideration.

The Greek government has made debt relief a key plank of its negotiating strategy over the past few months.

Greece's debts stand at around 320 billion euros ($355 billion), or a staggering 180 percent of the country's annual GDP. A direct cut is unlikely but Greece could get longer repayment schedules or cuts in the interest rates it pays on those debts.

","short_text":"

The AP reports:

Another issue facing the eurozone's 19 leaders is whether Greece needs debt...Read More"},{"id":"500","created":"07/12/2015 12:50 PM EDT","title":"Why A Greek Deal Matters","tweet_link":"500_why-a-greek-deal-matters","entry_text":"

Why a Greece bailout deal matters, in maps http://t.co/BQKQGcNriO pic.twitter.com/VW8Raf0aRB

— The New York Times (@nytimes) July 12, 2015

","short_text":"

Why a Greece bailout deal matters, in maps http://t.co/BQKQGcNriO pic.twitter.com/VW8Raf0aRB

&mda...Read More"},{"id":"498","created":"07/12/2015 12:31 PM EDT","title":"Closed Meeting","tweet_link":"498_closed-meeting","entry_text":"

Several news outlets are reporting that Greek Prime Minister Tsipras is meeting separately with Tusk, Hollande and Merkel.

#Tsipras to meet with #Merkel, #Hollande and #Tusk as eurozone summit takes break #Greece

— Kathimerini English (@ekathimerini) July 12, 2015

","short_text":"

Several news outlets are reporting that Greek Prime Minister Tsipras is meeting separately with Tusk, Hollande and Merkel.

Read More"},{"id":"496","created":"07/12/2015 12:28 PM EDT","title":"'Time Out' An Option","tweet_link":"496_time-out-an-option","entry_text":"

Agence France Presse, too, reports that the some members of the eurozone are listing a so-called \"time out\" for Greece as an option. That scenario has been raised by Germany in past days, and would see Greece temporarily leave the euro, possibly five years or more.

#BREAKING Greek 'time-out' from euro is an option according to eurozone document

— Agence France-Presse (@AFP) July 12, 2015

","short_text":"

Agence France Presse, too, reports that the some members of the eurozone are listing a so-called \"time out\" for Greece as an option. That scenario has been raised by Germany Read More"},{"id":"494","created":"07/12/2015 12:22 PM EDT","title":"Temporary Grexit Up For Discussion?","tweet_link":"494_temporary-grexit-up-for-discussion","entry_text":"

The Associated Press reports:

A temporary Greek exit from the euro is up for potential discussion at this evening's summit of the eurozone's 19 leaders.

At the conclusion of a 4-page draft document of proposals put to leaders and obtained by The Associated Press, eurozone finance ministers said Greece should be offered \"swift negotiations on a time-out from the euro area with possible debt restructuring\" if no bailout deal is agreed.

The measure of a potential temporary Greek exit was bracketed in the document, meaning that it was passed to leaders for their consideration.

In the document that shows that Greece has moved a long way to meeting creditors' demands, the so-called eurogroup said the country may need between 82-86 billion euros ($91-96 billion) in financing.

","short_text":"

The Associated Press reports:

A temporary Greek exit from the euro is up for potential discussion at this evening's summit of the eurozone's 19 leaders.

At the conclusion of a 4-page draft document of proposals put to leaders an...Read More"},{"id":"492","created":"07/12/2015 12:18 PM EDT","title":"'Disaster In Europe'","tweet_link":"492_disaster-in-europe","entry_text":"

Economist Paul Krugman argues in the New York Times on Sunday that those warning a \"grexit\" would lead to a complete implosion \"don't know what they're talking about.\"

Krugman continues:

When I say that, I don’t mean that they’re necessarily wrong — I believe they are, but anyone who is confident about anything here is deluding himself. What I mean instead is that nobody has any experience with what we’re looking at. It’s striking that the conventional wisdom here completely misreads the closest parallel, Argentina 2002. The usual narrative is completely wrong: de-dollarization did *not* cause economic collapse, but rather followed it, and recovery began quite soon.

Read the full op-ed here.

","short_text":"

Economist Paul Krugman argues in the New York Times on Sunday that those warning a \"grexit\" would lead to a complete implosion \"don't know what they'r...Read More"},{"id":"490","created":"07/12/2015 10:34 AM EDT","title":"Eurozone Summit Begins","tweet_link":"490_eurozone-summit-begins","entry_text":"

President of the European Council Donald Tusk tweets that the eurzone summit on Greece has begun.

The #EuroSummit on #Greece has just started. pic.twitter.com/X115x0qc2l

— Donald Tusk (@eucopresident) July 12, 2015

","short_text":"

President of the European Council Donald Tusk tweets that the eurzone summit on Greece has begun.

The #EuroSu...Read More"},{"id":"488","created":"07/11/2015 6:16 PM EDT","title":"Bailout Talks End, To Resume Tomorrow","tweet_link":"488_bailout-talks-end-to-resume-tomorrow","entry_text":"

BREAKING: Finnish finance minister says eurozone meeting on Greece has ended; will resume Sunday.

— The Associated Press (@AP) July 11, 2015

","short_text":"

BREAKING: Finnish finance minister says eurozone meeting on Greece has ended; will resume Sunday.

— The Associated Press (@AP) Read More"},{"id":"486","created":"07/11/2015 4:46 PM EDT","title":"On The Street In Athens","tweet_link":"486_on-the-street-in-athens","entry_text":"

Greek photographer Margarita Mavromichalis has a series of powerful photos from rallies in Athens on Thursday and Friday, organized in Athens by the supporters of the \"YES\" and \"NO\" votes to Sunday's referendum.

\"Following events of recent months concerning Greece is a complicated task. Living through them as a Greek is indeed a painful test. Finally, trying to document them is a real challenge,\" she writes in an introduction to the photo series on The WorldPost.

See her photos from the streets of Athens here, and view more of her photography on her website.

","short_text":"

Greek photographer Margarita Mavromichalis has a series of powerful photos from rallies in Athens on Thursday and Fr...Read More"},{"id":"484","created":"07/11/2015 3:37 PM EDT","title":"Anti-Austerity Protest In Athens","tweet_link":"484_antiausterity-protest-in-athens","entry_text":"

\"greece\"

Anti-austerity demonstrators from the communist party take part in a minor rally through the streets of Athens on July 11, 2015. (Christopher Furlong/Getty Images)

\"greece\"

Anti-austerity demonstrators from the communist party take part in a minor rally through the streets of Athens on July 11, 2015. (Christopher Furlong/Getty Images)

","short_text":"\r\n

Anti-austerity demonstrators from the communist party take part in a minor rally through the streets of Athens on July 11, 2015. (Christopher Furlong/Getty Images)

\r\n

Ant...Read More"},{"id":"482","created":"07/11/2015 2:06 PM EDT","title":"Greece Denies That Germany Proposed Temporary 'Grexit'","tweet_link":"482_greece-denies-that-germany-proposed-temporary-grexit","entry_text":"

The Associated Press reports:

The Greek government is denying a report that the German finance ministry has proposed a temporary, five-year euro exit for Greece.

Theodoros Mihopoulos who heads Greek Prime Minister Alexis Tsipras' office, said in a tweet that the report in Germany's Frankfurter Allgemeine Sonntagszeitung newspaper \"is completely denied.\"

According to the report, the German finance ministry also proposed that the Greek government sells off some 50 billion euros ($56 billion) in unspecified property assets to pay off debts. The report said that in exchange, Greece would remain in the European Union and receive additional \"growth enhancing, humanitarian and technical assistance\".

","short_text":"

The Associated Press reports:

The Greek government is denying a report that the German finance mi...Read More"},{"id":"480","created":"07/11/2015 1:29 PM EDT","title":"German Finance Minister Suggests Temporary 'Grexit'","tweet_link":"480_german-finance-minister-suggests-temporary-grexit","entry_text":"

German Finance Minister Wolfgang Schaeuble says the reforms proposed by Greece do not go far enough, HuffPost Germany reports.

The finance ministry has produced a position paper on two possible roads ahead: Greece quickly improves its proposals, or the country leaves the eurozone for at least five years, but remains a member of the European Union.

","short_text":"

German Finance Minister Wolfgang Schaeuble says the reforms proposed by Greece do not go far enough, H...Read More"},{"id":"478","created":"07/11/2015 12:36 PM EDT","title":"Greek-American Leaders Tout Lobbying Wins For Greece, But Want More","tweet_link":"478_greekamerican-leaders-tout-lobbying-wins-for-greece-but-want-more","entry_text":"

Daniel Marans reports:

Greek-American political leaders say their push for the U.S. to use its political power on behalf of Greece is helping to resolve the nation's financial crisis. But they say they could do more if not for the Obama administration’s reluctance to get involved in European affairs.

Greek-American organizations say they have steadfastly lobbied the U.S. government to use its power to secure better terms for Greece on the repayment of its massive debts to the International Monetary Fund, European Commission and European Central Bank.

Read the full story here.

","short_text":"

Daniel Marans reports:

Greek-American political leaders say their push for the U.S. to use its political power on behalf of...Read More"},{"id":"476","created":"07/11/2015 12:18 PM EDT","title":"'We Will All Need To Fight A Lot'","tweet_link":"476_we-will-all-need-to-fight-a-lot","entry_text":"

In Athens, Danae Leivada speaks to Greeks from different neighborhoods and diverse backgrounds about their hopes and fears for the country.

\"I think the future will be as hard as you can imagine,\" Melina Adam, a 48-year-old clothing store owner says. \"We will all need to fight a lot. People of all ages will struggle and all ages will have to come together and put in great effort.\"

\"I personally don't trust politicians,\" schoolteacher Vasso Papanagiotou, 34, says. \"I think that they are to blame and I just don't think that these politicians care about the Greek people.\"

Read the full story on The WorldPost here.

","short_text":"

In Athens, Danae Leivada speaks to Greeks from different neighborhoods and diverse backgrounds about their hopes and fears for the country.

\"I...Read More"},{"id":"474","created":"07/11/2015 11:18 AM EDT","title":"Austria Minister Says 60:40 Chance Of Bailout Deal","tweet_link":"474_austria-minister-says-6040-chance-of-bailout-deal","entry_text":"

Reuters reports:

Austrian Finance Minister Hans Joerg Schelling sees a 60 to 40 chance that a new bailout deal can be struck for Greece, Austrian news agency APA reported him as telling ORF radio on Saturday.

But Schelling added that these odds only applied if Greece provided guarantees on the implementation of reform measures.

\"If the guarantees don't come, this will reverse,\" he said of the odds.

","short_text":"

Reuters reports:

Austrian Finance Minister Hans Joerg Schelling sees a 60 to 40 chance that a new bailout deal can ...Read More"},{"id":"472","created":"07/11/2015 10:29 AM EDT","title":"Greek-Americans Share Concern For Greece, But Disagree On Solutions","tweet_link":"472_greekamericans-share-concern-for-greece-but-disagree-on-solutions","entry_text":"

HuffPost's Daniel Marans speaks to Greek-Americans from diverse backgrounds, and finds a community divided on the causes of -- and solutions to -- Greece’s troubles.

“If you ask me, Germany tried to rule Europe with a gun in World War II, and now they are trying to do it with money,” George Ramakis, who owns watch and jewelry repair business in Washington, D.C., told HuffPost.

“They got a lot of money when they joined the EU. And I thought it would cause a lot of reform in Greece,” retired Senate staffer Peter Marudas told HuffPost. But, he says, \"a lot of that money was used for patronage and not investments.”

Read the full story on The Huffington Post here.

","short_text":"

HuffPost's Daniel Marans speaks to Greek-Americans from diverse backgrounds, and finds a community divided on the causes of -- and s...Read More"},{"id":"470","created":"07/11/2015 9:46 AM EDT","title":"Greek Negotiators Head To Brussels For Bailout Talks","tweet_link":"470_greek-negotiators-head-to-brussels-for-bailout-talks","entry_text":"

Greek government negotiators headed to Brussels for bailout talks with international creditors on Saturday, the Associated Press reports.

\"There must be reform, solid reform and they have to be put in place quickly,\" European Commissioner Pierre Moscovici said as he arrived for the meeting. \"It is also important for the global and European economy,\" he said.

","short_text":"

Greek government negotiators headed to Brussels for bailout talks with international creditors on Saturday, the Associated Press reports<...Read More"},{"id":"468","created":"07/11/2015 9:27 AM EDT","title":"Greek Lawmakers Approve Bailout Proposal","tweet_link":"468_greek-lawmakers-approve-bailout-proposal","entry_text":"

The Associated Press reports:

Greece's parliament backed the government's reform plan containing austerity measures to win a third bailout early Saturday, but with the government suffering significant losses from dissenting lawmakers.

The motion, which sought to authorize the government to use the proposal as a basis for negotiation with international creditors during the weekend, passed with 251 votes in favor, 32 against and 8 voting 'present' — a form of abstention — in the 300-member parliament.

Those who voted 'present' or were absent, as well as two of those who voted against, were members of Prime Minister Alexis Tsipras' left-wing Syriza party — raising questions about the stability of his government.

","short_text":"

The Associated Press reports:

Greece's parliament backed the government's reform plan containing a...Read More"},{"id":"466","created":"07/10/2015 5:28 PM EDT","title":"Varoufakis: Germany Wants To Break Us","tweet_link":"466_varoufakis-germany-wants-to-break-us","entry_text":"

Yanis Varoufakis, Greece's former finance minister who stood down this week, has written a blistering opinion piece for The Guardian, arguing that European politics pushed Greece's creditors to reject debt restructuring against common sense and economic good practice.

The outspoken economist-turned-politician argues that Greece was doomed from the start of the financial crisis by creditors' irresponsible lending policies. \"It takes the mathematical expertise of a smart eight-year-old to know that this process could not end well,\" he writes.

Greece, Varoufakis claims, is just a pawn in a wider existential crisis in the eurozone. \"Based on months of negotiation, my conviction is that the German finance minister wants Greece to be pushed out of the single currency to put the fear of God into the French and have them accept his model of a disciplinarian eurozone,\" he writes.

","short_text":"

Yanis Varoufakis, Greece's former finance minister who stood down this week, has written a blistering opinion piece for The Guardian<...Read More"},{"id":"464","created":"07/10/2015 3:57 PM EDT","title":"Tsakalotos: 'We Are In A Stronger Position'","tweet_link":"464_tsakalotos-we-are-in-a-stronger-position","entry_text":"

The Associated Press reports:

Greece's new finance minister claims his country will win better terms for a bailout deal after calling a referendum, despite angering creditor countries.

In his first speech in parliament since becoming minister, Euclid Tsakalotos argued that the new proposed cuts are more socially fair than those in a previous draft agreement.

He told lawmakers: \"I think after the referendum we are in a stronger position.\"

The proposed deal, he said, would provide three years of financing with repayments spaced more evenly than under previous bailouts. He said there was also growing consensus for the need for a long-term debt relief agreement by 2022, when interest payments are set to surge.

He added: \"I think most of what we are aking for on debt relief is going to happen.\"

","short_text":"

The Associated Press reports:

Greece's new finance minister claims his country will win better terms for a bailout deal after calling a referendum, despite angering creditor countries.

In his first speech in parliament since be...Read More"},{"id":"462","created":"07/10/2015 3:42 PM EDT","title":"The App That's Doing Its Part To Help People During The Greek Crisis","tweet_link":"462_the-app-thats-doing-its-part-to-help-people-during-the-greek-crisis","entry_text":"

There has been a lot of discussion in the past few days about how technology can help the Greek economy, which is laboring under anxiety and funds shortages brought about by capital controls. Two businessmen recently launched a platform to help Greek start-ups make payments to foreign service providers, and several foreign service providers have shown goodwill toward Greek start-ups by extending or altering their payment deadlines.

Read the full story here.

","short_text":"

There has been a lot of discussion in the past few days about how technology can help the Greek economy, which is laboring under anxiety and funds shortages brought about by capital controls. Two businessmen recently launched a platform to help Greek s...Read More"},{"id":"460","created":"07/10/2015 2:50 PM EDT","title":"'Greeks Have Been Pushed To The Abyss'","tweet_link":"460_greeks-have-been-pushed-to-the-abyss","entry_text":"

The WorldPost spoke with Paul De Grauwe, a professor at the London School of Economics, about the Greek proposal and what it would mean for the country's economy in the years ahead.

\"Greeks have been pushed to the abyss,\" he told The WorldPost. \"The European Central Bank has been an instrument of politicians to starve the Greeks from cash... I don't think we can be very proud.\"

Read the full interview on the WorldPost here.

","short_text":"

The WorldPost spoke with Paul De Grauwe, a professor at the London School of Economics, about the Greek proposal and what it would mean for the...Read More"},{"id":"458","created":"07/10/2015 2:45 PM EDT","title":"Germany's Economy Is Doing Just Fine Amid This Whole Greek Crisis","tweet_link":"458_germanys-economy-is-doing-just-fine-amid-this-whole-greek-crisis","entry_text":"

HuffPost's Alexander Kaufman reports:

Germany can breathe a little easier over the Greek debt crisis.

Standard & Poor's affirmed the country's AAA credit rating on Friday and called its outlook stable.

\"In our view, Germany has a highly diversified and competitive economy with a demonstrated ability to absorb large economic and financial shocks,\" the Manhattan-based ratings agency said in a statement to The Huffington Post.

By contrast, S&P downgraded Greece's credit rating to CCC- late last month and said the country has a 50 percent chance of ditching the euro as a currency.

","short_text":"

HuffPost's Alexander Kaufman reports:

Germany can breathe a little easier over the Greek debt crisis.

Sta...Read More"},{"id":"456","created":"07/10/2015 2:18 PM EDT","title":"Greeks Rush To Obtain Passports Amid Economic Chaos","tweet_link":"456_greeks-rush-to-obtain-passports-amid-economic-chaos","entry_text":"

As Greece grapples with an uncertain economic future, some Greeks appear to be preparing an exit plan.

Greece's National Passport Center on Thursday reported a 50 percent rise in passport applications in the last 10 days, compared to the same period last year, HuffPost Greece reports.

The passport center said it received 1,580 new passport applications on Wednesday, compared to a daily average of 500 to 600 a day before the crisis started. Officials at the passport center told HuffPost Greece that authorities are struggling to process the influx of applications.

The officials said that the rise in applications was particularly noticeable in wealthy suburbs north and south of Athens, areas that also saw higher \"yes\" votes in Sunday's bailout referendum.

","short_text":"

As Greece grapples with an uncertain economic future, some Greeks appear to be preparing an exit plan.

Greece's National Passport Center on Thursday reported a 50 percent rise in passport applications in the last 10 days, compared to the same per...Read More"},{"id":"454","created":"07/10/2015 2:10 PM EDT","title":"Anti-Austerity Protesters March In Athens","tweet_link":"454_antiausterity-protesters-march-in-athens","entry_text":"

\"greece\"

Members of the anti-European Greek Communist party, the KKE, march against austerity in Athens on July 10, 2015. (ANGELOS TZORTZINIS/AFP/Getty Images)

\"athens\"

A demonstrator makes the victory sign in front of a banner reading ''NO'' during a rally in Athens, July 10, 2015. (AP Photo/Petros Karadjias)

\"athens\"

A members of the Communist-affiliated PAME labor union shouts slogans during an anti-austerity rally in Athens, July 10, 2015. (AP Photo/Petros Giannakouris)

","short_text":"\r\n

Members of the anti-European Greek Communist party, the KKE, march against austerity in Athens on July 10, 2015. (ANGELOS TZORTZINIS/AFP/Getty Images)

\r\n

A demonstrator m...Read More"},{"id":"452","created":"07/10/2015 1:06 PM EDT","title":"Troika Reportedly Agree Common Position","tweet_link":"452_troika-reportedly-agree-common-position","entry_text":"

The \"troika\" of international lenders to Greece have agreed a common position on the new bailout proposal to send to the Eurogroup, after a teleconference between the heads of the IMF, ECB, European Commission and the Eurogroup, according to Greek journalist Christina Vasilaki.

","short_text":"

The \"troika\" of international lenders to Greece have agreed a common position on the new bailout proposal to send to the Eurogroup, after a teleconference between the heads of the IMF, ECB, European Commission and the Eurogroup, Read More"},{"id":"450","created":"07/10/2015 12:57 PM EDT","title":"Greek Finance Minister Urges Legislators To Judge New Proposal As A Whole","tweet_link":"450_greek-finance-minister-urges-legislators-to-judge-new-proposal-as-a-whole","entry_text":"

Greece's finance minister, Euclid Tsakalotos, urged the Greek parliament to judge the new reform proposal that will come before legislators as a whole, HuffPost Greece reports. Tsakalotos said the program includes four \"branches\" -- fiscal, reforms, investment and debt relief -- and contains important measures on corruption, supplies and restructuring of the public sector.

","short_text":"

Greece's finance minister, Euclid Tsakalotos, urged the Greek parliament to judge the new reform proposal that will come before legislators as a whole, HuffPost Greece Read More"},{"id":"448","created":"07/10/2015 12:06 PM EDT","title":"Rift In Coalition Party ","tweet_link":"448_rift-in-coalition-party-","entry_text":"

Four members of parliament for the Independent Greek party (ANEL) distanced themselves from the Greek government's proposal to its international creditors, HuffPost Greece reports. ANEL MPs Pavlos Haikalis, Stavroula Xoulidou, Nikos Mavraganis and Harisios Katanas reportedly revealed they were against Tsipras' proposal.

","short_text":"

Four members of parliament for the Independent Greek party (ANEL) distanced themselves from the Greek government's proposal to its international creditors, Read More"},{"id":"446","created":"07/10/2015 10:42 AM EDT","title":"German Parties Split Over Greek Bailout Proposal","tweet_link":"446_german-parties-split-over-greek-bailout-proposal","entry_text":"

Reuters reports:

The parties in Angela Merkel's coalition government sent conflicting signals on the latest reform proposals from Greece on Friday, underscoring the challenge for the German chancellor before a pivotal summit of EU leaders this weekend.

Leading Social Democrats (SPD) welcomed concessions from Greek Prime Minister Alexis Tsipras on taxes, pensions, defense spending and privatization, saying the measures showed his government was finally getting serious about reform.

\"This is a very important step forwards, though it could have been taken long ago,\" Axel Schaefer, a top SPD member of parliament, told Reuters, urging an end to talk of a Greek exit from the euro zone, which he said would be \"lunacy.\"

But lawmakers in Merkel's conservative bloc, many of whom are under pressure from constituents to cut Greece loose, questioned whether Tsipras could be trusted to enact reforms that he has long opposed and which Greeks overwhelmingly rejected in a referendum less than a week ago.

Read more here.

","short_text":"

Reuters reports:

The parties in Angela Merkel's coalition government sent conflicting signals on the latest reform proposals from Greece on Friday, underscoring the challenge for the German chancellor before a pivotal summit of EU lea...Read More"},{"id":"444","created":"07/10/2015 10:13 AM EDT","title":"Tsipras' Allies And Opponents","tweet_link":"444_tsipras-allies-and-opponents","entry_text":"

Mood has turned: After Athens has submitted proposals, support for #Greece has gained strength. RBS sees deal likely. pic.twitter.com/FUL5LqNQAO

— Holger Zschaepitz (@Schuldensuehner) July 10, 2015

","short_text":"

Mood has turned: After Athens has submitted proposals, support for #Greece has gained strength. RBS sees deal likely. Read More"},{"id":"442","created":"07/10/2015 10:11 AM EDT","title":"New Democracy Party Supports Tsipras' Proposal","tweet_link":"442_new-democracy-party-supports-tsipras-proposal","entry_text":"

HuffPost Greece reports:

Evangelos Meimarakis, head of the New Democracy party, said on Friday it supports Tsipras' efforts to keep the country inside the eurozone.

“New Democracy makes clear that on Sunday, the country should have a deal which will keep it in the Eurozone and within Europe,\" Meimarakis said. \"New Democracy, also, makes this clear to the prime minister: we authorize you to bring an agreement, but not only do we authorize you, we also order you to prevent the country from leaving Europe and the euro. We will discuss later how we reached this deal.”

","short_text":"

HuffPost Greece reports:

Evangelos Meimarakis, head of the New Democracy party, said on Friday ...Read More"},{"id":"440","created":"07/10/2015 10:08 AM EDT","title":"Greek Communist Party Calls Conditions For Bailout Deal 'Barbaric'","tweet_link":"440_greek-communist-party-calls-conditions-for-bailout-deal-barbaric","entry_text":"

HuffPost Greece reports:

The head of Greece's Communist Party, Dimitris Koutsoumpas, slammed the Greek government as well as the any political party supporting Prime Minister Alexis Tsipras' proposal to Greece's European lenders.

“Just because, since yesterday evening, the public debate revolves around the unacceptable fast-track procedures that take place in the Parliament suggested by the SYRIZA government, does not mean we should be distracted from the fact that the other parties, with the exception of the Communist Party, have agreed and authorized Mr. Tsipras to sign a third “memorandum” bailout deal with barbaric measures for our people,” Koutsoumpas said.

","short_text":"

HuffPost Greece reports:

The head of Greece's Communist Party, Dimitris Koutsoumpas, slammed the Greek government a...Read More"},{"id":"438","created":"07/10/2015 9:55 AM EDT","title":"European Stocks Jump","tweet_link":"438_european-stocks-jump","entry_text":"

Markets toast Greek bid to clinch debt deal http://t.co/6yiOoHBfX3

— Reuters Top News (@Reuters) July 10, 2015

","short_text":"

Markets toast Greek bid to clinch debt deal http://t.co/6yiOoHBfX3

— Reuters Top News (@Reuters) Read More"},{"id":"436","created":"07/10/2015 9:52 AM EDT","title":"What's in The Proposal?","tweet_link":"436_whats-in-the-proposal","entry_text":"

The Guardian takes a thorough look at how Greece's recent proposal differs from what was on the negotiating table earlier this month. Check it out here.

","short_text":"

The Guardian takes a thorough look at how Greece's recent proposal differs from what was on the negotiating table earlier this month. Check it out Read More"},{"id":"434","created":"07/10/2015 9:45 AM EDT","title":"Varoufakis Won't Attend Parliament Vote","tweet_link":"434_varoufakis-wont-attend-parliament-vote","entry_text":"

Former FinMin #Varoufakis tweets he will not be present at parliament vote due to family reasons #Greece

— Kathimerini English (@ekathimerini) July 10, 2015

#Varoufakis reiterates full support for new FinMin Tsakalotos's #Eurogroup effort, especially efforts for debt relief #Greece

— Kathimerini English (@ekathimerini) July 10, 2015

","short_text":"

Former FinMin #Varoufakis tweets he will not be present at parliament vote due to family reasons Read More"},{"id":"432","created":"07/10/2015 9:14 AM EDT","title":"Tsipras Rallies Support For Bailout Program","tweet_link":"432_tsipras-rallies-support-for-bailout-program","entry_text":"

The Associated Press reports:

In an unusual procedure, Tsipras is first seeking authorization from parliament to negotiate with the creditors based on the proposal in a vote Friday. He is essentially asking his Syriza party to sign off on the U-turn despite more than 60 percent of voters opposing more austerity in the July 5 referendum.

Tsipras was convening his party's lawmakers for discussions Friday morning before the parliamentary debate.

The coalition government has 162 seats in the 300-member parliament and pledged backing on a deal from a large section of opposition lawmakers. But failure to deliver votes from his own government would likely topple his coalition.

","short_text":"

The Associated Press reports:

In an unusual procedure, Tsipras is first seeking authorization fro...Read More"},{"id":"430","created":"07/09/2015 6:50 PM EDT","title":"Dominique Strauss-Kahn's Surprisingly Prescient Plan For Greece","tweet_link":"430_dominique-strausskahns-surprisingly-prescient-plan-for-greece","entry_text":"

HuffPost's Daniel Marans reports:

Dominique Strauss-Kahn, the disgraced former managing director of the International Monetary Fund and onetime French presidential hopeful, has a progressive plan for the Greek debt crisis that includes significant debt relief -- a concept the country's creditors appear increasingly willing to accept.

The plan, which Strauss-Kahn released on Twitter, would allow Greece to postpone all debt repayments for two years but withhold additional financing for the cash-strapped nation. This would allow Greece more flexibility to recover by keeping cash flowing into its economy, but also keep pressure on its government to continue tightening its budget, Strauss-Kahn argued. After two years, if Greece completes the fiscal reforms, it would become eligible for more debt relief, including a significant write-down.

Read the full story here.

","short_text":"

HuffPost's Daniel Marans reports:

Dominique Strauss-Kahn, the disgraced former managing director of the Internati...Read More"},{"id":"428","created":"07/09/2015 6:38 PM EDT","title":"Greece Releases Details Of Their New Reform Proposal","tweet_link":"428_greece-releases-details-of-their-new-reform-proposal","entry_text":"

The Greek government has released the details of a new proposal for wide-reaching reforms in exchange for desperately-needed bailout funds.

The document, which was submitted to European creditors just ahead of a midnight deadline, was published on the website of the Greek parliament. Greek newspaper Naftemporiki published an easier-to-read version of the document in English.

","short_text":"

The Greek government has released the details of a new proposal for wide-reaching reforms in exchange for desperately-needed bailout funds.

The document, which was submitted to European creditors just ahead of a midnight deadline, was Read More"},{"id":"426","created":"07/09/2015 6:25 PM EDT","title":"Greece Parliament To Vote Friday","tweet_link":"426_greece-parliament-to-vote-friday","entry_text":"

The Associated Press reports:

ATHENS, Greece (AP) — Parliament to vote late Friday on Greek bailout proposals, final negotiations with creditors .

","short_text":"

The Associated Press reports:

ATHENS, Greece (AP) — Parliament to vote late Friday on Greek bailout proposals, final negotiations with creditors .

"},{"id":"422","created":"07/09/2015 5:20 PM EDT","title":"Eurogroup Won't Comment Yet On New Greek Proposal","tweet_link":"422_eurogroup-wont-comment-yet-on-new-greek-proposal","entry_text":"

Eurogroup President Jeroen Dijsselbloem won't comment on the content of Greece's new reform proposals until they've had a chance to assess them, his spokesman said.

More from Reuters:

The European Commission and European Central Bank will review the proposals. The International Monetary Fund is also involved in assessing whether Greece's debts are sustainable.

The assessment is due to be completed before the Eurogroup meets in Brussels at 3 p.m. (1300 GMT) on Saturday to consider whether to recommend launching loan negotiations.

The ministers' conclusions will be reviewed by euro zone leaders at a summit called for Sunday afternoon.

","short_text":"

Eurogroup President Jeroen Dijsselbloem won't comment on the content of Greece's new reform proposals until they've had a chance to assess them, his spokesman said.

Read More"},{"id":"420","created":"07/09/2015 4:35 PM EDT","title":"Greece Submits New Reform Proposal To Eurogroup","tweet_link":"420_greece-submits-new-reform-proposal-to-eurogroup","entry_text":"

The head of the eurogroup has received new reform proposals from the Greek government ahead of the midnight deadline, the spokesman for Eurogroup President Jeroen Dijsselbloem wrote on Twitter.

New Greek proposals received by #Eurogroup president @J_Dijsselbloem, important for institutions to consider these in their assessment

— Michel Reijns (@MichelReijns) July 9, 2015

","short_text":"

The head of the eurogroup has received new reform proposals from the Greek government ahead of the midnight deadline, the spokesman for Eurogroup President Jeroen Dijsselbloem wrote on Twitter.

Read More"},{"id":"418","created":"07/09/2015 3:35 PM EDT","title":"Germany Reportedly Considering Greek Debt Relief","tweet_link":"418_germany-reportedly-considering-greek-debt-relief","entry_text":"

German Finance Minister Wolfgang Schäuble said that Germany will consider the possibility of debt relief for Greece, according to German media.

German newspaper Süddeutsche Zeitung reports that Schäuble said future debt restructuring might be on the table in upcoming talks, as long as Greece submits a reform proposal that creditors find acceptable.

","short_text":"

German Finance Minister Wolfgang Schäuble said that Germany will consider the possibility of debt relief for Greece, according to German media.

German newspaper Süddeutsche Zeitung Read More"},{"id":"416","created":"07/09/2015 3:19 PM EDT","title":"German Foreign Minister Taking The Night Off","tweet_link":"416_german-foreign-minister-taking-the-night-off","entry_text":"

Reuters' correspondent Sam Wilkins reports:

German FM Steinmeier going to Berlin now, returning to Vienna tomorrow. Would suggest no imminent deal but who knows. #IranTalks. @Reuters

— Sam Wilkin (@WilkinReports) July 9, 2015

","short_text":"

Reuters' correspondent Sam Wilkins reports:

German FM Steinmeier going to Berlin now, returning to Vienna tomorrow. Would suggest no imminent deal but who knows. Read More"},{"id":"414","created":"07/09/2015 3:00 PM EDT","title":"German Official Jokes About Trading Greece For Puerto Rico","tweet_link":"414_german-official-jokes-about-trading-greece-for-puerto-rico","entry_text":"

HuffPost's Daniel Marans writes:

German Finance Minister Wolfgang Schaeuble on Thursday joked about offering U.S. Treasury Secretary Jack Lew to exchange Greece for Puerto Rico.

“I offered my friend Jack Lew these days that we could take Puerto Rico into the euro zone if the U.S. were willing to take Greece into the dollar union. He thought that was a joke,” Schaeuble said, according to Bloomberg.

Read the full story here.

-- Daniel Marans

","short_text":"

HuffPost's Daniel Marans writes:

German Finance Minister Wolfgang Schaeuble on Thursday joked about offering ...Read More"},{"id":"412","created":"07/09/2015 2:59 PM EDT","title":"Phantom Drachma Sighting","tweet_link":"412_phantom-drachma-sighting","entry_text":"

Bloomberg reports the mysterious sighting of the Greek drachma in a reporter's credit card statement.

Behold the first sighting of the new Greek drachma http://t.co/5XGR8EYMCY pic.twitter.com/ZO0BqSxwbG

— Bloomberg Business (@business) July 9, 2015

","short_text":"

Bloomberg reports the mysterious sighting of the Greek drachma in a reporter's credit card statement.

Read More"},{"id":"410","created":"07/09/2015 2:54 PM EDT","title":"Greek Government Reportedly Approves Reform Plan","tweet_link":"410_greek-government-reportedly-approves-reform-plan","entry_text":"

The Greek government has approved a package of reforms to submit to international creditors, The Guardian reports. Greece has until midnight tonight to submit their reform proposal to European creditors, ahead of a Sunday summit to discuss a bailout to the beleaguered country.

A senior Syriza lawmaker told the British newspaper that they were on standby for a parliamentary vote to approve the reforms, which could take place as soon as tomorrow.

","short_text":"

The Greek government has approved a package of reforms to submit to international creditors, The Guardian Read More"},{"id":"408","created":"07/09/2015 2:39 PM EDT","title":"Germany Concedes Greece Needs Debt Relief","tweet_link":"408_germany-concedes-greece-needs-debt-relief","entry_text":"

German Finance Minister Wolfgang Schaeuble admitted on Thursday that Greece would need some debt restructuring, somewhat switching tact from what has been a hard line on reform.

Reuters reports:

Schaeuble, who has made no secret of his scepticism about Greece's fitness to remain in the currency area, told a conference in Frankfurt: \"Debt sustainability is not feasible without a haircut and I think the IMF is correct in saying that.

But he added: \"There cannot be a haircut because it would infringe the system of the European Union.\"

He offered no solution to the conundrum, which implied that Greece's debt problem might not be soluble within the euro zone.

Read more here.

","short_text":"

German Finance Minister Wolfgang Schaeuble admitted on Thursday that Greece would need some debt restructuring, somewhat switching tact from what has been a hard line on reform.

Reuters reports:

Schaeuble, who has made no secre...Read More"},{"id":"406","created":"07/09/2015 1:51 PM EDT","title":"Economy Minister: 'Of Course' Proposal Would Pass Parliament","tweet_link":"406_economy-minister-of-course-proposal-would-pass-parliament","entry_text":"

Economy minister George Stathakis said today \"of course the Greek proposal will pass in the Parliament\" reports HuffPost Greece.

","short_text":"

Economy minister George Stathakis said today \"of course the Greek proposal will pass in the Parliament\" reports H...Read More"},{"id":"404","created":"07/09/2015 12:38 PM EDT","title":"Greek Newspapers Running Out Of Paper","tweet_link":"404_greek-newspapers-running-out-of-paper","entry_text":"

Reuters reports:

With banks shut and the economy seizing up, some Greek newspapers like the Empros daily on the island of Lesvos are running out of paper and could be forced to stop sales altogether until the banks open again.

The island's biggest selling newssheet, Empros has already reduced the number of pages to 16 from 20 and its chief executive Manolis Manolas hopes he won't have to make further cuts as the country's cash crunch worsens. Greek banks have been shut for almost two weeks after capital controls were imposed.

","short_text":"

Reuters reports:

With banks shut and the economy seizing up, some Greek newspapers like the Empros daily on the ...Read More"},{"id":"402","created":"07/09/2015 12:37 PM EDT","title":"What It's Like To Be A Tourist In Crisis-Stricken Greece","tweet_link":"402_what-its-like-to-be-a-tourist-in-crisisstricken-greece","entry_text":"

HuffPost Spain's Carlota Ramirez reports from Athens:

In the terraces that surround the Acropolis, people chat, catch some air and sip drinks. A man who manages one of the gift shops among the cafés said he has noticed a slight decline in the number of tourists, but it’s nothing to worry about.

“Next week will be better, I’m almost sure of it. This one hasn’t been a very good week for us,” he said.

Read the full article here.

","short_text":"

HuffPost Spain's Carlota Ramirez reports from Athens:

In the terraces that surround the Acropolis, people chat, catch some air and sip drinks. A man who manages one of the gift shops among the cafés said he has noticed a slight decli...Read More"},{"id":"400","created":"07/09/2015 12:13 PM EDT","title":"Greek Defense Minister: Country To Submit Proposal In Few Hours","tweet_link":"400_greek-defense-minister-country-to-submit-proposal-in-few-hours","entry_text":"

The Associated Press reports:

BREAKING: Greek defense minister: Greek reforms proposal will be submitted 'in the next few hours.'

— The Associated Press (@AP) July 9, 2015

","short_text":"

The Associated Press reports:

BREAKING: Greek defense minister: Greek reforms proposal will be submitted 'in the next few hours.'

— The Associated Pre...Read More"},{"id":"398","created":"07/09/2015 11:58 AM EDT","title":"The Sleepwalkers Of Europe Finally Wake Up","tweet_link":"398_the-sleepwalkers-of-europe-finally-wake-up","entry_text":"

Read HuffPost Italy Blog Editor Stefano Baldolini's take on the crisis:

We haven't quite reached the point of waving a slab of mortadella bologna for the fall of a government, or the mass infighting seen in assemblies of the ex-Soviet Republics, with men grappling at one another in the middle of the fray as if they were players on a rugby field. But if politics is in part the representation of bodies and faces, and familiarity with the leaders who represent us -- even though they count for little, it's probably too late and the centrifugal tensions in play are irreversible -- today a little bit of politics has finally reared its head in the European Parliament.

Read the full article here.

","short_text":"

Read HuffPost Italy Blog Editor Stefano Baldolini's take on the crisis:

We haven't quite reached the point of waving a slab of mortadella bologna for the fall of a government, or the mass infighting seen in assemblies of the ex-Soviet...Read More"},{"id":"396","created":"07/09/2015 11:52 AM EDT","title":"'They Can't Stay'","tweet_link":"396_they-cant-stay","entry_text":"

The chairman of the British parliament's foreign affairs committee, Crispin Blunt, told HuffPost UK that he believes Greece should leave the euro currency.

\"They can’t stay in the euro. It's not sustainable,\" he said in an interview with HuffPost's Ned Simons. \"If I was the Greek government, I would be saying: 'thank you very much. You have pushed us out of this currency, we are going. And I'm afraid your €180bn has gone with us because we are writing it off'.\"

","short_text":"

The chairman of the British parliament's foreign affairs committee, Crispin Blunt, Read More"},{"id":"394","created":"07/09/2015 11:35 AM EDT","title":"Greek National Bank Pays Pensioners 120 Euros Again","tweet_link":"394_greek-national-bank-pays-pensioners-120-euros-again","entry_text":"

The National Bank of Greece announced that the bank holiday is prolonged from today, July 9, until July 15, 2015 with a ministerial decree, reports Greek news site Dikaiologitika.

The limit for cash withdrawal from ATMs will stay at 60 euros per day. Banks will also give pensioners who don't hold debit cards a lump sum of 120 euros for the week, in the same process as occurred last Wednesday.

The Greek National Bank informed the public that it keeps checking its 1416 cash machines on a 24-hour basis and makes sure they are full.

","short_text":"

The National Bank of Greece announced that the bank holiday is prolonged from today, July 9, until July 15, 2015 with a ministerial decree, Read More"},{"id":"392","created":"07/09/2015 10:47 AM EDT","title":"ECB Member Says Greece Must Send Strong Signal","tweet_link":"392_ecb-member-says-greece-must-send-strong-signal","entry_text":"

European Central Bank governing member Ewald Nowotny says that Sunday's summit must produce a strong signal beyond negotiations or Greece will be cut off. Greek banks are almost sure to collapse if the ECB cuts off its emergency funds.

ECB Nowotny says sunday's summit over Greece has to produce a very strong signal, negotiations alone not enough for continued ECB support

— Fabrizio Goria (@FGoria) July 9, 2015

","short_text":"

European Central Bank governing member Ewald Nowotny says that Sunday's summit must produce a strong signal beyond negotiations or Greece will be cut off. Greek banks are almost sure to collapse if the ECB cuts off its emergency funds.

Read More"},{"id":"390","created":"07/09/2015 10:21 AM EDT","title":"ECB President Says It Won't Be Easy","tweet_link":"390_ecb-president-says-it-wont-be-easy","entry_text":"

Italian newspaper Il Sole 24 Ore cites two short statements by president of the European Central Bank President Mario Draghi upon his return from Brussels to Rome.

According to the newspaper, the ECB president, answering questions by reporters at the Rome airport, replied to questions regarding the ongoing negotiations, that “This time, things are not going to be easy.”

Read more at HuffPost Greece.

","short_text":"

Italian newspaper Il Sole 24 Ore cites two short statements by president of the European Central Bank President Mario Draghi upon his return from Brussels to Rome.

According to the newspaper, the ECB president, answering questions by reporters at...Read More"},{"id":"388","created":"07/09/2015 10:00 AM EDT","title":"The Steps To Sunday's Deal","tweet_link":"388_the-steps-to-sundays-deal","entry_text":"

The Greek proposal will be examined by the Board of Governors of the European Stability Mechanism and also the three institutions, the European Commission, the European Central Bank and the International Monetary Fund, and they will assess the terms of granting a loan as well as the size of the amount required.

Once there is a prior authorization of the measures, essentially a proposal to the Eurozone leaders who will meet on Sunday's emergency summit, they will not have reason to reject the Greek request and proposals. It is also worth noting that in the current phase, the IMF -although it will comment on the proposal – is not, at least for the time being, among the lenders of the new program requested by Greece and therefore cannot block the agreement.

If everything goes smoothly until Saturday, the deal and the measures will come to the Greek Parliament to be voted next Monday.

Read more at HuffPost Greece.

","short_text":"

The Greek proposal will be examined by the Board of Governors of the European Stability Mechanism and also the three institutions, the Europea...Read More"},{"id":"386","created":"07/09/2015 9:49 AM EDT","title":"Bookmakers Adjust Their Odds On Grexit","tweet_link":"386_bookmakers-adjust-their-odds-on-grexit","entry_text":"

Betting odds on Greece leaving the euro have been adjusted by bookmakers, Reuters reports. Betting institutions Paddy Power and William Hill are now indicating that it is less likely Greece will leave, lengthening odds on that wager.

","short_text":"

Betting odds on Greece leaving the euro have been adjusted by bookmakers, Reuters reports. Betting institutions Paddy Power and William Hill are now indicating that it is less l...Read More"}]

Athens' Badass Street Art
Suggest a correction
Comments

CONVERSATIONS