Latest Greek Crisis News

  • Merkel seeks to dampen talk of 3rd Greek bailout
    Merkel seeks to dampen talk of 3rd Greek bailout 17 hours ago

    German Chancellor Angela Merkel and the president of the European Union's executive branch cautioned Wednesday against speculation that Greece will need a third financial bailout. Though Greek Prime Minister ... More »

  • Germany says euro zone has hands full with existing Greek bailout programme
    Germany says euro zone has hands full with existing Greek bailout programme 18 hours ago

    By Andrés González and Philip Blenkinsop BARCELONA/BRUSSELS (Reuters) - Germany and the European Commission said on Wednesday that talk of a third bailout for Greece was premature, while Spain's Economy Minister was insistent that further support was almost inevitable. Economy Minister Luis de Guindos said Athens was unlikely to be able to return to capital markets by June, when an extension of its bailout expires, and so some form of further aid programme looked likely. German Chancellor Angela Merkel, asked about a third package at a news conference with European Commission President Jean-Claude Juncker in Brussels, said she was focussing on the current bailout, now extended for four months: "I think we now have all our hands full to make this succeed and that's what I'm concentrating on," she said. De Guindos had already suggested on Monday that the euro zone was talking about another bailout for Greece, with a package worth between 30 billion (21.5 billion pounds) and 50 billion euros under discussion, prompting denials from euro zone officials. More »

  • Merkel says EU focused on current Greek bailout
    Merkel says EU focused on current Greek bailout 19 hours ago

    German Chancellor Angela Merkel (C) with European Commission President Jean-Claude Juncker (R) and European Commission Vice-President Frans Timmermans in Brussels on March 4, 2015 More »

  • Merkel says euro zone has hands full with existing Greek bailout programme 20 hours ago

    BRUSSELS (Reuters) - German Chancellor Angela Merkel on Wednesday refused to speculate if Greece could count on a third aid package from its euro zone partners after Athens had completed its existing bailout programme. "I think we now have all our hands full to make this (2nd Greek bailout) succeed," Merkel said during a press conference with European Commission President Jean-Claude Juncker in Brussels. Merkel also said that France was on the right path to improve its competitiveness, adding that each euro zone country had to decide itself on which specific measures to take. ... More »

  • Premature to talk about third Greek bailout - EU's Juncker 20 hours ago

    It is too early to discuss a third bailout package for Greece, European Commission President Jean-Claude Juncker said on Wednesday, stressing the focus of talks with Athens was implementing measures already agreed with the euro zone. "We are going to focus on implementing what was agreed in the Eurogroup," Juncker told a news conference with German Chancellor Angela Merkel. More »

  • Talk of third Greek bailout gains ground in Europe
    Talk of third Greek bailout gains ground in Europe Tue, Mar 3, 2015

    Spain's finance minister Luis de Guindos (L) speaks with his Greek counterpart Yanis Varoufakis during an emergency Eurogroup finance ministers meeting at the European Council in Brussels, February 20, ... More »

  • Syriza's capitulation will empower Europe's right
    Syriza's capitulation will empower Europe's right Tue, Mar 3, 2015

    Syriza's surrender to neoliberal forces will create a mood of defeatism among progressive forces across Europe. More »

  • Juncker says no talks in the euro zone for a third Greek bailout Tue, Mar 3, 2015

    There are no talks about a third bailout for Greece, European Commission President Jean-Claude Juncker told Reuters in Berlin on Monday after Spain's economy minister said euro zone nations are discussing a third bailout worth 30 to 50 billion euros. "There are no talks about that," Juncker said when asked on the sidelines of a conference in Berlin about reports of a third bailout. Speaking at an event earlier on Monday in Pamplona, in northern Spain, Economy Minister Luis de Guindos had said the new rescue plan would set more flexible conditions for Greece, which had no alternative other than European support. Greek Prime Minister Alexis Tsipras used a televised address on Friday to deny his country would need another international programme. More »

  • Mixed messages on third Greek bailout talks
    Mixed messages on third Greek bailout talks Tue, Mar 3, 2015

    By Sarah Morris and Lefteris Papadimas MADRID/ATHENS (Reuters) - Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain's economy minister said on Monday, but EU officials said there were no such talks. Speaking at an event in Pamplona, northern Spain, Economy Minister Luis de Guindos said the new rescue plan would set more flexible conditions for Greece, which had no alternative other than European support. Greek leftist Prime Minister Alexis Tsipras used a televised address on Friday to deny his country would need another international programme. The new government in Athens sought to assure it can cover its funding needs this month, including repaying a 1.5-billion- euro loan to the International Monetary Fund. More »

  • Spain reveals 3rd Greek bailout, then says it's hypothetical
    Spain reveals 3rd Greek bailout, then says it's hypothetical Mon, Mar 2, 2015

    Spain created hours of confusion over the future of Greece's troubled finances Monday by announcing that eurozone nations were negotiating a third Greek bailout of up to 50 billion euros ($56 billion), ... More »

  • EU pushing for unity to end row over Greek PM comments
    EU pushing for unity to end row over Greek PM comments Mon, Mar 2, 2015

    Greek Prime Minister Alexis Tsipras delivers a speech at the Syriza party headquarters in Athens on February 28, 2015 More »

  • Euro zone not discussing third Greek bailout - Eurogroup head's spokesw … Mon, Mar 2, 2015

    Euro zone finance ministers are not discussing a third bailout for Greece, the spokeswoman for Jeroen Dijsselbloem who chairs meetings of the ministers said on Monday. The statement comes in response to remarks by Spain's Economy Minister Luis de Guindos who said earlier on Monday that euro zone countries were in talks over a third bailout package for Greece worth between 30 billion and 50 billion euros (22-36 billion pounds). "Euro zone finance ministers are not discussing a third bailout," spokeswoman Simone Boitelle said. More »

  • Unleashed doggy decadence as Berlin restaurant welcomes canine customers
    Unleashed doggy decadence as Berlin restaurant welcomes canine customers Mon, Mar 2, 2015

    A Berlin restaurant hoped to revolutionise the phrase "dog's dinner" when it opened its doors to canine customers on 1 March. Often touted as man's best friend, canine companions are set to be banned altogether from certain paths at around Berlin's lakes from May 15, and elsewhere will have to be kept on leash at all times. German singer Henry de Winter, appointed "patron" of the new dog restaurant situated in the Paulsborn hotel, said that given the new regulations elsewhere, the location was key for the dining experiment. More »

  • Spanish PM hits back at Greece's Tsipras in austerity row
    Spanish PM hits back at Greece's Tsipras in austerity row Sun, Mar 1, 2015

    Spanish Prime Minister and leader of ruling Popular Party Mariano Rajoy speaks during a political meeting on March 1, 2015 More »

  • Spanish PM hits back at Greek accusation of anti-Athens 'axis'
    Spanish PM hits back at Greek accusation of anti-Athens 'axis' Sun, Mar 1, 2015

    By Costas Pitas and Sonya Dowsett ATHENS/MADRID (Reuters) - Spain's centre-right Prime Minister Mariano Rajoy hit back on Sunday against accusations from Greece's leftist premier that Spain and Portugal had led a conservative conspiracy to topple his anti-austerity government. Greek Prime Minister Alexis Tsipras said Spain and Portugal had taken a hard line in talks on the euro zone extending the Greek bailout programme because they feared the rise of the left in their own countries. "We found opposing us an axis of powers ... led by the governments of Spain and Portugal which for obvious political reasons attempted to lead the entire negotiations to the brink," Tsipras said. "Their plan was and is to wear down, topple or bring our government to unconditional surrender before our work begins to bear fruit and before the Greek example affects other countries," he said, adding: "And mainly before the election in Spain." Rajoy said Spain had shown solidarity with Greece as part of the euro zone by helping with its bailout and urged Greece to fulfill its obligations and keep its promises. More »

  • Greek PM vows no retreat in 'battle' with creditors
    Greek PM vows no retreat in 'battle' with creditors Sat, Feb 28, 2015

    Greek Prime Minister Alexis Tsipras delivers a speech at the Syriza party headquarters in Athens on February 28, 2015 More »

  • Greek PM accuses Spain, Portugal of anti-Athens 'axis'
    Greek PM accuses Spain, Portugal of anti-Athens 'axis' Sat, Feb 28, 2015

    By Costas Pitas and David Stamp ATHENS (Reuters) - Greece's leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year. Tsipras also rejected criticism that Athens had staged a climbdown to secure an extension of its financial lifeline from the euro zone, saying anger among German conservatives showed that his government had won concessions. "We found opposing us an axis of powers ... led by the governments of Spain and Portugal which for obvious political reasons attempted to lead the entire negotiations to the brink," said Tsipras, who won an election on Jan. 25. "Their plan was and is to wear down, topple or bring our government to unconditional surrender before our work begins to bear fruit and before the Greek example affects other countries," he said, adding: "And mainly before the elections in Spain." Spain's new anti-establishment Podemos movement has topped some opinion polls, making it a serious threat to the conservative People's Party of Prime Minister Mariano Rajoy in an election which must be held by the end of this year. More »

  • Germany approves Greek bailout extension despite unease
    Germany approves Greek bailout extension despite unease Sat, Feb 28, 2015

    People carry a banner reading 'out of EU' and 'cancel the debt' during a demonstration in Athens on February 26, 2015 More »

  • Greek PM vows to 'start working hard' after German vote
    Greek PM vows to 'start working hard' after German vote Fri, Feb 27, 2015

    Greek Prime Minister Alexis Tsipras arrives for a ministerial meeting at the parliament in Athens on February 24, 2015 More »

  • Germany backs Greek extension but bailout fatigue grows
    Germany backs Greek extension but bailout fatigue grows Fri, Feb 27, 2015

    By Stephen Brown BERLIN (Reuters) - Germany's parliament approved an extension of Greece's bailout on Friday but a record number of dissenters from Angela Merkel's conservatives underscored growing scepticism in Berlin about whether a new Greek government can be trusted to deliver on its reform pledges. With Finance Minister Wolfgang Schaeuble promising not to let Greece "blackmail" its euro zone partners, 542 members of the Bundestag voted "yes" to the extension, while 32 opposed it and 13 abstained. More »

  • Germany unblocks Greek bailout in parliament vote
    Germany unblocks Greek bailout in parliament vote Fri, Feb 27, 2015

    The four-month reprieve for Greece won overwhelming backing in Germany's lower house of parliament More »

  • German Parliament to vote on Greek bailout deal
    German Parliament to vote on Greek bailout deal Fri, Feb 27, 2015

    Germany's finance minister brought a proposed four-month bailout extension for Greece before Parliament Friday, telling lawmakers the measure was in Europe's best interest. "This is not about new ... More »

  • Oil market holds steady
    Oil market holds steady Thu, Feb 26, 2015

    Crude futures rebounded sharply on February 25, 2015 as traders focused on positive news of falling gasoline and distillates stockpiles in the United States More »

  • Oil market slide on oversupply woes
    Oil market slide on oversupply woes Thu, Feb 26, 2015

    World oil prices fall after solid gains the previous day, as dealers fretted again over swelling US crude inventories adding to the global supply glut More »

  • Merkel's Bavarian allies to support Greek extension, seek pledges Wed, Feb 25, 2015

    Angela Merkel's conservative allies in Bavaria agreed to support an extension of the Greek bailout in a parliamentary vote expected on Friday, but kept up their tough rhetoric in insisting on precise details from Athens on planned reforms. Germany's Merkel is rallying lawmakers to approve the extension, despite Finance Minister Wolfgang Schaeuble's avowed doubts about the credibility of Athens' latest reform plans, and her right-left coalition has a big enough majority to easily win the vote on extending the rescue for four months. The Christian Social Union (CSU), sister party to Merkel's Christian Democrats (CDU), have consistently taken a tougher stance than the chancellor on Greece and include several high profile critics. These include a clear timetable and details of reforms, and specify that the Greek government can only offer new welfare measures with the support of its international creditors. More »

  • London shares retreat after record high
    London shares retreat after record high Wed, Feb 25, 2015

    London shares ended in the red on Wednesday on renewed concerns over Greece and profit-taking after hitting a record high the previous day. More »

  • Former Greek finance minister stands trial over tampering with tax-dodger l …
    Former Greek finance minister stands trial over tampering with tax-dodger l … Wed, Feb 25, 2015

    Former Greek finance minister George Papaconstantinou went on trial on Wednesday on charges of tampering with a list of alleged tax evaders in a case that aroused anger among a public hit by austerity policies and economic crisis. Papaconstantinou, who served under former socialist premier George Papandreou in 2009-2011, showed no emotion as he appeared before a special court in Athens. Papaconstantinou is standing trial for attempted breach of trust as well as tampering with the list of about 2,000 Greeks with money aboard. They are among the names of holders of HSBC accounts in Switzerland obtained by France in 2010 when Christine Lagarde, now the International Monetary Fund chief, was the country's finance minister. More »

  • Germany's Merkel welcomes Greek bailout agreement
    Germany's Merkel welcomes Greek bailout agreement Wed, Feb 25, 2015

    BERLIN (AP) — German Chancellor Angela Merkel is welcoming an agreement on a four-month extension to Greece's financial bailout but says "a lot of work" remains ahead. More »

  • Greek Bailout On As Economic Reforms Approved
    Greek Bailout On As Economic Reforms Approved Tue, Feb 24, 2015

    Greece is on course to secure its four-month bailout extension, with its economic reform plan being cautiously accepted by creditors. The list of measures was submitted just ahead of a midnight deadline last night to Eurogroup president Jeroen Dijsselbloem and representatives of the European Commission, the European Central Bank (ECB) and International Monetary Fund (IMF). The document contained a list of promises but offered little in terms of financial figures, prompting IMF chief Christine Lagarde to criticise it as "not very specific" - though she said the Greek plan was sufficient to receive the aid programme. More »

  • William Keegan: Greek stay of economic execution raises pantomime spectre of …
    William Keegan: Greek stay of economic execution raises pantomime spectre of … Mon, Feb 23, 2015

    The German finance minister, Wolfgang Schauble, could not resist it, could he? In what for your correspondent was the nastiest quote of the week, Herr Schauble just had to rub it in by proclaiming the Greek government "certainly will have a difficult time explaining the deal to its voters". He was, of course, referring to the compromise agreement, or stay of economic execution, hammered out between the Greeks and the finance ministers of the rest of the eurozone on 20 February in Brussels. Against the background of a Black Friday run on its banks, the Greek government had little alternative but to agree to draw up a batch of "reform measures", almost certainly involving more austerity than they bargained for, in order to extend the €172bn (£126bn, $195bn) rescue programme for four months. More »

  • World shares mostly higher following Greek bailout progress
    World shares mostly higher following Greek bailout progress Mon, Feb 23, 2015

    TOKYO (AP) — World stocks extended gains Monday after Greece and its European creditors reached an agreement that staved off the threat of bankruptcy and exit from the euro, though hurdles remain to cementing the short-term funding deal. More »

  • German business confidence rises for 4th straight month Mon, Feb 23, 2015

    BERLIN (AP) — A closely-watched measure of German business confidence released Monday rose for the fourth straight month in February in another positive sign from Europe's largest economy. More »

  • Asian shares mostly higher following Greek bailout progress Mon, Feb 23, 2015

    Asian stock markets were mostly higher Monday after Greece and its European creditors reached an agreement that staved off the immediate threat of bankruptcy and exit from the euro though hurdles remain ... More »

  • Greece readies reform promises after Eurogroup climbdown
    Greece readies reform promises after Eurogroup climbdown Sun, Feb 22, 2015

    By George Georgiopoulos ATHENS (Reuters) - Greece's government prepared reform measures on Sunday to secure a financial lifeline from the euro zone, but was attacked for selling "illusions" to voters after failing to keep a promise to extract the country from its international bailout. Leftist Prime Minister Alexis Tsipras has insisted Greece achieved a negotiating success when euro zone finance ministers agreed to extend the bailout deal for four months, provided it came up with a list of reforms by Monday. "I want to say a heartfelt thanks to the majority of Greeks who stood by the Greek government ... That was our most powerful negotiating weapon," he said on Saturday. Top Marxist members of Tsipras's Syriza party, a broad coalition of the left, have so far been silent on the painful compromises made to win agreement from the Eurogroup. More »

  • Little sympathy for Greek woes in eurozone's poorer nations
    Little sympathy for Greek woes in eurozone's poorer nations Sat, Feb 21, 2015

    Greek Finance Minister Yanis Varoufakis holds a press conference after the Eurogroup finance ministers meeting at the European Council headquarters in Brussels, February 20, 2015 More »