Greece: Creditors Have Not Accepted Our Proposals
CCN. LA reported on Monday about the 11th hour Eurozone emergency summit seeking a deal to prevent Greece from defaulting on her debt and toppling the area into an economic tailspin. But the European Central Bank, the International Monetary Fund and the European Commission, Greece's main creditors, are using the situation to push Greece and her citizens further into an economic corner. Greek Prime Minister Alexis Tsipras said in a tweet, this morning, that some creditors have not accepted Greece's proposals of reform-for-aid as he left for emergency talks in Brussels. The insistence of....
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This morning's Global Economic Outlook report focused on the emergency Euro Summit that was to hammer out a deal to avert Greece defaulting on her debts. Crisis has been averted and additional time for drafting a deal was brokered between Greece and her creditors, reports Reuters. Eurozone finance ministers accepted a cash-for-reform deal from Greece today but insist on a detailed study, that will take days, to determine whether or not the reforms can lead to an agreement and avert default. Pay Up, Get Down. The ministers will reconvene later this week, to give Greece time to negotiate....
According to a Bloomberg report, the troika of International Monetary Fund, European Commission and the European Central Bank has rejected Alexis Tsipras' set of bailout proposals intended to keep the Mediterranean nation in the Eurozone. Greece's creditors passed on the revised set of proposals to the Greek government even as the Prime Minister expressed his shock at his own proposals being turned down. According to Agence France-Presse, Greece has rejected the counter-proposal. Greece is due to pay IMF $1.7 billion before its bailout package expires on June 30. Bitcoin Remains....
Talks in the Eurogroup took place Yesterday. Greece didn't manage to reach an agreement with its eurozone creditors. Despite its original intentions, Athens rejected eurozone's demands as the Greek finance minister ultimately described them as "unacceptable". In his statement after the Eurogroup, he claimed that the text in the draft shown to him was changed during the Eurogroup meeting with a document he could not accept. The creditors really have Greece on a tight leash as they told Greek officials that they have until Friday to request an extension to the current bailout or Greece will....
The crisis in Greece is unfolding so fast that new breaking updates are being published every hour. Yesterday, Greece became the first developed nation ever to default on the International Monetary Fund (IMF). Hours after Greece missed the deadline for its repayment to the IMF, European ministers will meet to discuss the Greek request for a new bailout, BBC News reports. The Financial Times reports that Greek PM Alexis Tsipras seems ready to concede on most outstanding differences between his government and its international bailout creditors. According to a leaked letter sent late Tuesday....
Greece has closed its banks and imposed capital controls to prevent financial chaos after the breakdown of bailout talks with its international creditors, The Financial Times reports. The decision comes at the end of a weekend that brought Greece closer to "Grexit" - the potential exit from the Eurozone and perhaps the European Union (EU) itself - and confronted Europe with a serious crisis. The banks in Greece and the Athene Stock Exchange will remain closed until at least July 6, the day after the referendum on the austerity measures demanded by the country's creditors. In the meantime,....