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Greece Debt Crisis

12 Devastating Consequences if Greece Returns to the Drachma

Dimitrios Giokas | Posted 06.28.2015 | World
Dimitrios Giokas

It's clear that we should not base our hopes on futile and dangerous solutions, such as returning to the drachma. Let us draw up a long-term plan for the next day, that will turn Greece into a modern, well-governed European country with a strong economy and liberated from the chronic pathologies that pester it.

Greece To Close Banks And Stock Exchange On Monday

Reuters | Posted 06.29.2015 | World

By Lefteris Papadimas and John O'Donnell ATHENS/FRANKFURT, June 28 (Reuters) - Greek banks and the stock exchange will be shut on Mond...

Rift With Greece Sets Europe Into Uncharted Territory

Reuters | Alastair Macdonald | Posted 06.28.2015 | World

BRUSSELS, June 28 (Reuters) - Europe's grand project to bind its nations into an unbreakable union by means of a common currency lurched into uncharte...

Victims of Illusions: The Non-Solution of the Greferendum

Cas Mudde | Posted 06.28.2015 | World
Cas Mudde

The Greek government has squandered all its goodwill within half a year through a combination of arrogance, belligerence, naivety and utter incompetence. It set out to restore the "dignity" of the Greek people by "liberating" them from the alleged stranglehold of the Troika, while in the process "transforming" Europe into a more equal and just continent. It has achieved neither.

Over A Third Of Greek ATMs Run Out Of Cash

Reuters | Posted 06.27.2015 | World

By George Georgiopoulos and Lefteris Papadimas ATHENS, June 27 (Reuters) - More than a third of automated teller machines across Greece ran out of ...

European Leaders Reject Greece Bailout Extension Throwing Eurozone Into Crisis

AP | RAF CASERT and ELENA BECATOROS | Posted 06.27.2015 | World

ATHENS, Greece (AP) — Greece's parliament voted early Sunday in favor of Prime Minister Alexis Tsipras' motion to hold a July 5 referendum on credit...

Greek PM Calls Referendum On Bailout Deal

Reuters | Posted 06.27.2015 | World

By Lefteris Papadimas and Renee Maltezou ATHENS/BRUSSELS, June 27 (Reuters) - Greek Prime Minister Alexis Tsipras called a referendum...

Greece, Creditors Get Closer To Bailout Deal

AP | Posted 06.26.2015 | World

BRUSSELS (AP) — Greece and its creditors moved closer to clinching a deal this weekend that would allow the cash-strapped country avoid a default an...

Meeting On Greece Wraps Up Without Deal

AP | DEREK GATOPOULOS and RAF CASERT | Posted 06.26.2015 | World

BRUSSELS (AP) -- The bitter standoff between Greece and its international creditors was extended into the weekend, just days before Athens has to meet...

These Young Greeks Want to Change Their Country

HuffPost Germany | Christoph Asche | Posted 06.25.2015 | World

"There are moments in history when you have to act. Otherwise you're a coward." says Antonis Schwarz. You can't help but believe the 27-year-old'...

Between Default and Reform: The Night and Day Options for the Greek Economy

Costas Meghir | Posted 06.24.2015 | World
Costas Meghir

The obvious alternative to the catastrophe that the government is contemplating is to implement real structural reforms. This would first require a deal with the creditors to keep Greece afloat.

Greek PM Tussles With Creditors As Debt Talks Enter Final Stretch

AP | LORNE COOK and DEREK GATOPOULOS | Posted 06.25.2015 | World

BRUSSELS (AP) -- Greece was trying to bridge major differences with creditors Wednesday on a plan to make more reforms in the country in exchange for ...

Greek Offer In Bailout Talks Stirs Angry Backlash At Home

Reuters | Posted 06.23.2015 | World

By George Georgiopoulos and Michele Kambas ATHENS, June 23 (Reuters) - Greece's leftwing government expressed confidence on Tuesday that parliament...

What Happens If Greece Defaults On Its Debts?

The Huffington Post | Nick Robins-Early | Posted 06.19.2015 | World

As negotiations between Greece and its creditors continue to fail to produce a bailout deal, the Greek central bank warned on Wednesday that the natio...

Grexit! Then What?

Eliza Vozemberg | Posted 06.18.2015 | World
Eliza Vozemberg

I hope that the discussion on Grexit will remain at a theoretical level and that the Greek people will not experience the real consequences of a default.

How the Financial Crisis is Choking Greek Businesses

Alexandros Klossas | Posted 06.18.2015 | World
Alexandros Klossas

As the Greek government and its creditors continue negotiations over the country's debt, the lack of liquidity has turned the financial situation for many of the nation's companies increasingly dire and frozen both the private sector and the domestic market.

19 Pieces Of Athens Graffiti That Perfectly Sum Up The Attitude Of Young Greeks

HuffPost Germany | Christoph Asche | Posted 06.18.2015 | World

The neighborhood of Exarcheia is different. That’s what several people told me when I first arrived in Athens. I knew that this neighborhood is...

Greeks Are Just Trying to Stay Alive

Jeffrey Sachs | Posted 06.17.2015 | World
Jeffrey Sachs

PARIS -- Europe's demands -- ostensibly aimed at ensuring that Greece can service its foreign debt -- are petulant, naive and fundamentally self-destructive. In rejecting them, the Greeks are not playing games; they are trying to stay alive. The Greek government is right to have drawn the line. It has a responsibility to its citizens. The real choice, after all, lies not with Greece, but with Europe.

Greece Has Made Tough Choices. Now It's the IMF's Turn.

James K. Galbraith | Posted 06.17.2015 | World
James K. Galbraith

ATHENS -- The IMF and Greece's other creditors have assumed that massive fiscal contraction has only a temporary effect on economic activity, employment and taxes, and that slashing wages, pensions and public jobs has a magical effect on growth. This has proved false. Indeed, Greece's post-2010 adjustment led to economic disaster -- and the IMF's worst predictive failure ever.

Christoph Asche

The Economic Crisis In Greece –- As Told By An Athens Taxi Driver | Christoph Asche | Posted 06.17.2015 | World

For an instant, his finger twitches. Should he honk the horn? “Does this have to happen right now?” Dimitris is a taxi driver in the Greek...

The Victimization of the Greek People Must Stop

Nicos E. Devletoglou | Posted 06.17.2015 | World
Nicos E. Devletoglou

Isn't it, too, almost an indecent albeit dangerous spectacle of the European Union, a superpower, to go on threatening, when not cajoling, the government of a small member-state on its strategic southern periphery?

Quiz: Who Can Save Greece From Collapse?

Triantafyllos Xylouris | Posted 06.15.2015 | World
Triantafyllos Xylouris

Given the abundance of talent in Greece with not many other options to pursue, I truly believe that the startup-scene can generate star players. But we have to stay realistic.

Greek PM Tsipras Insists On Debt Relief As Negotiations Resume

Reuters | Posted 06.13.2015 | World

ATHENS/BRUSSELS, June 13 (Reuters) - Greek Prime Minister Alexis Tsipras said he was willing to accept unpalatable compromises to secure a deal with i...

Greece Faced With Harrowing Decision With Possibility For Disaster

Reuters | Posted 06.13.2015 | World

By Matthias Williams and Lefteris Papadimas ATHENS, June 12 (Reuters) - Greece's government is under intense pressure to deliver unpal...

Can Angela Merkel Offer Hope for Greece?

Yanis Varoufakis | Posted 06.08.2015 | World
Yanis Varoufakis

ATHENS -- Moralistic objections to helping Greece abound, denying its people a shot at achieving their own renaissance. Greater austerity is being demanded from an economy that is on its knees, owing to the heftiest dose of austerity any country has ever had to endure in peacetime. No offer of debt relief. No plan for boosting investment. And certainly, as of yet, no "Speech of Hope" for this fallen people.