94 Billion Dollar Greek Bailout In Last Stages
Early this morning European time, Greek financial ministers and Eurozone representatives reached an agreement after an all-night negotiation session. The deal will last three years and amount to $94 billion. "The institutions and the Greek authorities achieved an agreement in principle on a technical basis. Now as a next step, a political assessment will be made," said Annika Breidhardt, a European Commission representative. Also read: How Bitcoin Could Prevent a Future Greece. The biggest issues discussed revolved around Greek institutions not properly servicing their receivables, the....
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Hours after Greece had officially defaulted on its bailout loan from the International Monetary Fund. Eurozone ministers were already discussing terms of a new bailout loan to keep the country afloat. Officials today will decide whether or not an emergency loan to Greece from the European Central Bank. The meeting where ECB ministers will decide as much is only the first of two meetings that are to happen this afternoon, the other being in regards to Greece's request for a new bailout amounting in nearly 30 billion Euros and lasting two years. Many expect a tidy end to a short-lived crisis....
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....
European leaders announced Monday morning that they had reached a deal meant to resolve Greece's debt crisis, The New York Times reports. The new bailout for Greece would involve both "serious reforms" and "financial support," said Donald Tusk, president of the European Council. Last week Greek voters issued a surprisingly loud and clear statement of support to Greek Prime Minister Alexis Tsipras, and defiance to European authorities and the International Monetary Fund. In the referendum celebrated on July 5, the Greeks said no to the bailout deal proposed by the country's creditors. The....
Earlier this week, Greece became the first developed nation ever to default on the International Monetary Fund (IMF). Negotiations with the European Union (EU) and the IMF are stalling, and Greek voters on Sunday rejected new bailout terms. On Monday, Greece closed its banks and imposed capital controls to prevent financial chaos after the breakdown of bailout talks. Banks and ATMs are still working on a very limited basis, which makes things difficult for families and pensioners. For businesses and entrepreneurs who depend on cross-border sales and imported goods or services, the....
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....