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Category Archives: European Union
- Finance minister resigns after European participants express ‘preference’ for his absence
- Tsipras: Democracy cannot be blackmailed
- Merkel and Hollande want emergency summit
- Latest summary: Greece votes No, by a landslide
- Photos: No supporters celebrate
- Analysts fear Greek banks may collapse
- Track the results here
Here’s Alexis Tsipras and his colleagues at their meeting this morning to discuss their next move after the no victory in the referendum:
ECB member and Bank of France governor Christian Noyer has been commenting on Greek finances:
ECB Noyer: Greece Debt To Eurosystem Cannot Be Restructured
If Greece leaves the EU, the European project is over. If it leaves the euro and recovers, austerity is done for. The best option is a backdown on Greek debt
Lots of people have raised the suggestion of applying game theory to the the Greek debt crisis. I haven’t attempted this, reflecting my general scepticism about game theory in the absence of a well-defined strategy space.
But now the Greek government and public have made what is, in effect, a final move.
Many stock markets in Asia fall sharply – but losses are limited as investors eye up what next for Greece and the euro
Share prices were sent tumbling across Asia-Pacific on Monday after Greece’s resounding no vote in the weekend’s bailout referendum, but early losses appear to have failed to descend into regional turmoil.
All eyes were on how Japan and other key Asian markets would react after Greece overwhelmingly rejected the terms of a bailout offered by the country’s international creditors on Sunday.
As Syriza supporters flock to Athens’ Syntagma square to celebrate, Phoebe Greenwood talks to those who are celebrating a historic referendum outcome. ’They thought they could intimidate us,’ one man says. Despite jitters on the financial markets, others happy with the historic oxi (no) vote say they hope it will be the moment that Greeks can come together Continue reading…
Celebrating the vote to say no to more austerity measures tied to a possible new bailout, Greeks gathered in Athens’ Syntagma Square and explained their frustration.
Tsipras: Democracy cannot be blackmailedMerkel and Hollande want emergency summitLatest summary: Greece votes No, by a landslideOfficial projection says 61% vote NoPhotos: No supporters celebrateAnalysts fear Greek banks may collapseTrack the results h…
If Greece could be on the way out of the eurozone, will investors be less willing to hold the debt of other states carrying heavy debt loads?
How far will financial markets fall on Monday morning? Expect to see the leading European share index plunge 10% initially in the event of a no vote, Goldman Sachs predicted at the end of last week.
A 10% decline would be enormous, but almost any prediction is credible in the current climate. We’re back to the wild markets seen at the height of the banking crisis in 2008. Many fund managers, even last week, were expecting a strong yes vote in Greece. It’s hard to know how severely they will be shocked by the scale of the no victory. Share prices in London are bound to be affected – a 2% fall, or about 130 points off the FTSE 100 index, was Sunday night’s indication in futures markets.
Creditors may now be tempted to let Greece sweat it out a bit in a cashless economy, but to avoid a Grexit tragedy they should try less stick and more carrot
Greece’s membership of the euro hangs by a gossamer thread after the victory for the no side in the country’s referendum. The cash machines are running out of money and the economy is in freefall.
The fate of the home of democracy is not in its own hands. If it chooses to do so, the European Central Bank could force Athens to default on its debts and issue its own currency on Monday morning by withdrawing emergency support for the Greek banking system.
With more than 60% of the results counted, official projection from Greece’s interior ministry shows no vote set to win with an overwhelming 61% share
Greece is on the brink of a historic victory for the no vote against the austerity measures demanded by its international creditors, according to the first results.
Three hours after the polls closed, and with more than 60% of the results counted, the official opinion polls showed the no camp on 61% and the yes camp with about 39%. An official projection from Greece’s interior ministry showed the no votes are set to win with an overwhelming 61% share of the vote.
Politicians suggest there will be more support for debt-stricken Greece, no matter how people vote in Sunday’s poll
As Greeks voted in a referendum crucial to the future of the eurozone, a growing list of German and other European politicians sought to reassure them that – whatever the outcome – they would not be left to their fate.
The president of the European parliament, Martin Schulz, held out the prospect of more emergency loans from the EU to Greece to pay civil servants and keep public services like transport, energy and the healthcare system running. In an interview with the conservative paper Die Welt am Sonntag, Schulz defended the EU’s hardline approach, expressed his hope that Greece would vote yes to its creditors’ final proposals, but pledged: “We won’t abandon the Greek people to their fate.”