Latest Greek Crisis News

  • Oil hits 2015 peak as Saudis resume strikes on Yemen
    Oil hits 2015 peak as Saudis resume strikes on Yemen Sat, Apr 25, 2015

    A view of a Chevron refinery on March 3, 2015 in Richmond, California More »

  • No third Greek bailout until current talks completed - Dijsselbloem Fri, Apr 24, 2015

    RIGA (Reuters) - A third bailout for Greece can be negotiated once current talks with Athens are concluded, Jeroen Dijsselbloem, the chairman of the euro zone finance ministers, said on Friday. "I hope to get an agreement very quickly. Once we have that we can also talk about the future," he told a news conference. Money is available for Greece only until the end of June, the head of the European Stability Mechanism, Klaus Regling, added following a meeting in the Latvian capital. Dijsselbloem said there will be no partial disbursement for partial reforms for Greece. ... More »

  • Merkel - must prevent Greece running out of cash before deal
    Merkel - must prevent Greece running out of cash before deal Thu, Apr 23, 2015

    By Paul Taylor BRUSSELS (Reuters) - German Chancellor Angela Merkel said on Thursday everything must be done to prevent Greece running out of money before it reaches a cash-for-reform deal with its international creditors, amid heightened concern that Athens is nearing the brink. Merkel, Europe's pre-eminent leader, was speaking after a meeting she called "constructive" with Greek Prime Minister Alexis Tsipras on the sidelines of a European Union summit in Brussels. Asked how great the risk was of Athens running out of cash before any agreement was reached with its official lenders, she told a news conference: "Everything must be undertaken to prevent that." Tsipras told reporters they had noted significant progress had been made in the negotiations and added: "We have covered a large part of the distance." He said he was very optimistic and that they had moved closer to a deal on an economic reform programme that would unlock frozen bailout funds. More »

  • Greek PM Tsipras says very optimistic on deal with creditors Thu, Apr 23, 2015

    BRUSSELS (Reuters) - Greek Prime Minister Alexis Tsipras said on Thursday he was optimistic of reaching a deal with the country's creditors after making significant progress in reform-for-cash negotiations. Tsipras, who met German Chancellor Angela Merkel on the sidelines of an EU summit on migration in Brussels, said both sides agreed that "there was significant progress made recently in discussions with the Brussels group, that we have covered a large part of the distance". Asked if Greece and its partners were close to a deal, he said: "We are closer than we were previously. ... More »

  • European shares fall on weak data, jitters over Greece
    European shares fall on weak data, jitters over Greece Thu, Apr 23, 2015

    Shares fell in Europe on Thursday, sapped by doubts over the Greek bailout plan and gloomy manufacturing data from the region, China and Japan. Asian markets were mostly higher on hopes for further economic ... More »

  • Japan's Nikkei closes above 20,000 for first time in 15 years
    Japan's Nikkei closes above 20,000 for first time in 15 years Wed, Apr 22, 2015

    Japanese shares hit a 15-year high on April 22, 2015, after the country recorded its first trade surplus in three years More »

  • German investor sentiment slips slightly
    German investor sentiment slips slightly Tue, Apr 21, 2015

    German investor sentiment has fallen for the first time in six months in April as weak global growth weighs on confidence More »

  • Gazprom chief to meet Greek PM after reports of pipeline deal
    Gazprom chief to meet Greek PM after reports of pipeline deal Mon, Apr 20, 2015

    Alexey Miller, CEO of Russian gas giant Gazprom attends a conference organized by the Valdai International Discussion Club in Berlin on April 13, 2015 More »

  • Greece's Varoufakis warns of Grexit contagion
    Greece's Varoufakis warns of Grexit contagion Mon, Apr 20, 2015

    Greece's Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect. "Some claim that the rest of Europe has been ring-fenced from Greece and that the ECB has tools at its disposal to amputate Greece, if need be, cauterize the wound and allow the rest of euro zone to carry on." "I very much doubt that that is the case. Sooner or later it's going to start raising interest rates, political tensions, capital flight." His comments were recorded before those of Mario Draghi, the European Central Bank's president, who this weekend said the euro zone was better equipped than it had been in the past to deal with a new Greek crisis but warned of uncharted waters if the situation deteriorates. Euro zone deputy finance ministers gave Athens last Thursday a deadline of six working days to present a revised economic reform plan. More »

  • Millionaire businessman wins Finland vote, eurosceptics take second place
    Millionaire businessman wins Finland vote, eurosceptics take second place Sun, Apr 19, 2015

    By Jussi Rosendahl and Anna Ercanbrack HELSINKI (Reuters) - A millionaire former telecoms executive touted as a technocrat capable of rescuing Finland from economic slump won Sunday's parliamentary election, but he will likely need coalition support from a second-placed eurosceptic party critical of any more Greek bailouts. Opposition Centre Party leader Juha Sipila, who advocates a wage freeze and spending cuts to regain Finland's competitiveness, beat pro-EU and pro-NATO Prime Minister Alexander Stubb after four years of policy stagnation and a bickering coalition. "Three years ago, we were seen as a sunset movement, but not anymore!" Sipila said in a speech to his cheering party members. "Finland is in a very difficult situation. More »

  • Greek PM says EU needs urgent plan to tackle migrant crisis Sun, Apr 19, 2015

    Greek Prime Minister Alexis Tsipras urged the European Union on Sunday to urgently come up with a plan to tackle a mounting migrant humanitarian crisis in the Mediterranean. "The Mediterranean must stop being a graveyard sea and southern European countries a storage of human souls," Tsipras said in a televised address. More »

  • Another crunch week in Greek bailout saga
    Another crunch week in Greek bailout saga Sun, Apr 19, 2015

    By Mike Peacock LONDON (Reuters) - The threat posed by Greece beyond its borders may have diminished but efforts to agree an economic reform programme to free up bailout funds and avert default will capture world attention this week. Euro zone finance ministers meet in the Latvian capital Riga on Friday with both sides saying time is running short to keep Greece afloat. Germany said last week it was unrealistic to expect euro zone countries to be able to pay out a new tranche of aid this month. "No one has a clue how we can reach agreement on an ambitious programme," Finance Minister Wolfgang Schaeuble said. More »

  • US piles pressure on Athens as Greek crisis roils markets
    US piles pressure on Athens as Greek crisis roils markets Sat, Apr 18, 2015

    US Secretary of the Treasury Jacob Lew leaves after a meeting with Senators on Capitol Hill April 14, 2015 in Washington, DC More »

  • IMF, World Bank 2015 spring meetings in Washington on Friday Fri, Apr 17, 2015

    The following are highlights of the International Monetary Fund and World Bank meetings on Friday in Washington, where finance ministers, central bankers and other top officials are gathering. G20 COMMUNIQUE ON GLOBAL ECONOMY "We welcome the strengthening of economic activity in some key economies, yet global growth remains moderate and is following divergent paths. Near-term prospects in advanced economies, notably the euro zone and Japan, have improved recently, while the U.S. and UK continue to record solid growth, which could support a stronger global recovery. Growth in some emerging market economies, such as in China and India, is strong, but remains uneven. More »

  • Exclusive - Greek PM Tsipras confident of EU deal despite friction over ref …
    Exclusive - Greek PM Tsipras confident of EU deal despite friction over ref … Fri, Apr 17, 2015

    By Renee Maltezou and Deepa Babington ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras told Reuters on Thursday he was "firmly optimistic" his government would reach an agreement with its creditors by the end of April despite friction over issues such as pension and labour reform. In a statement, Tsipras said several points of agreement had been found since talks first started, especially on areas such as tax collection, corruption and distributing the tax burden towards those who most able to pay. German Finance Minister Wolfgang Schaeuble, among Tsipras's harshest critics, went so far as to say on Wednesday that "no one has a clue" how a deal could be reached, curbing hopes of a breakthrough at an April 24 meeting of euro zone finance ministers in Riga. NO LEEWAY FROM IMF Greece's Finance Ministry denied a report by the Financial Times that Athens had approached the International Monetary Fund to request that a delay in loan repayments. More »

  • Greek PM, Orthodox leader mull using Church assets to ease debt
    Greek PM, Orthodox leader mull using Church assets to ease debt Thu, Apr 16, 2015

    Greece's radical left Prime Minister Alexis Tsipras announced Thursday the start of a "dialogue" with the powerful Orthodox Church on using clerical assets to boost the struggling state coffers... More »

  • Why it's proving hard to save Greece
    Why it's proving hard to save Greece Thu, Apr 16, 2015

    By the day, Greece is getting closer to a potentially catastrophic debt default that could force it out of the euro bloc. All it needs to avoid that fate is a deal with its creditors to get more loans ... More »

  • A look at why Greece is again in danger of default
    A look at why Greece is again in danger of default Thu, Apr 16, 2015

    By the day, Greece is getting closer to a potentially catastrophic debt default that could force it out of the euro bloc. All it needs to avoid that fate is a deal with its creditors to get more loans ... More »

  • Slow growth, Greek crisis, Ebola on menu as IMF, World Bank meet
    Slow growth, Greek crisis, Ebola on menu as IMF, World Bank meet Thu, Apr 16, 2015

    Protestors march on April 9, 2015 with a banner reading "Write off the debt now," during a protest in Athens called by the public sector workers union More »

  • Deal or default? All bets are off on Greece's debt talks
    Deal or default? All bets are off on Greece's debt talks Wed, Apr 15, 2015

    Betting is going either way on whether Greece can strike a deal with its creditors or if it will default and leave the eurozone More »

  • IMF: Global economy steady but risks abound
    IMF: Global economy steady but risks abound Tue, Apr 14, 2015

    A man walks past a sign for the 2015 Spring Meetings of the World Bank Group and International Monetary Fund outside IMF Headquarters in Washington, DC on April 13, 2015 More »

  • IMF hikes eurozone growth forecasts, cautious on outlook
    IMF hikes eurozone growth forecasts, cautious on outlook Tue, Apr 14, 2015

    The IMF hikes its eurozone growth forecasts, seeing boosts from lower oil prices, record low interest rates and the ECB's massive stimulus programme More »

  • IMF sees global economy steady; Japan, Europe improve
    IMF sees global economy steady; Japan, Europe improve Tue, Apr 14, 2015

    The IMF says Japan's economy is picking up pace More »

  • Putin gives visiting Greek PM Tsipras historic Greek icon
    Putin gives visiting Greek PM Tsipras historic Greek icon Thu, Apr 9, 2015

    MOSCOW (AP) — In a sign of a blossoming friendship, Russian President Vladimir Putin has given visiting Greek Prime Minister Alexis Tsipras an historic Greek icon stolen by Nazis during the German occupation of Greece as the two countries mulled a series of economic projects. More »

  • Putin gives visiting Greek PM Tsipras ancient Greek icon
    Putin gives visiting Greek PM Tsipras ancient Greek icon Thu, Apr 9, 2015

    In a sign of a blossoming friendship, Russian President Vladimir Putin has given visiting Greek Prime Minister Alexis Tsipras an ancient Greek icon stolen by Nazis during the German occupation of Greece ... More »

  • Greece is not Russia's Trojan Horse to Europe
    Greece is not Russia's Trojan Horse to Europe Thu, Apr 9, 2015

    All the talk about Europe losing Greece to Russia risks becoming a self-fulfilling prophecy. More »

  • Greek PM gets support, not money from Putin
    Greek PM gets support, not money from Putin Wed, Apr 8, 2015

    By Denis Pinchuk and Renee Maltezou MOSCOW (Reuters) - Russian President Vladimir Putin offered Greek Prime Minister Alexis Tsipras moral support and long-term cooperation but no financial aid on Wednesday, leaving Athens to fend for itself in resolving urgent debt problems with Western creditors. The leftist-led Greek government, at loggerheads with its euro zone and International Monetary Fund creditors, risks running out of money within weeks unless it can reach a new cash-for-reform deal. "The Greek side has not addressed us with any requests for aid," Putin told a joint news conference after Kremlin talks. "We discussed cooperation in various sectors of the economy, including the possibility of developing major energy projects." Tsipras added: "Greece is not a beggar going around to countries asking them to solve its economic problem, an economic crisis that doesn't only concern Greece but is a European crisis." Athens managed to sell 1.138 billion euros (825.9 million pounds) in six-month Treasury bills on Wednesday to keep itself afloat. More »

  • Greek PM blasts Russia sanctions at Putin meet
    Greek PM blasts Russia sanctions at Putin meet Wed, Apr 8, 2015

    Greek Prime Minister Alexis Tsipras says he wants a "new start" in relations with Russia as he meets Russian President Vladimir Putin (R) in Moscow on April 8, 2015 More »

  • Greek PM says flexing foreign policy rights with Russia trip Wed, Apr 8, 2015

    Greece is simply exercising its right to boost relations with other countries and is not seeking financial aid from Russia to solve a problem that is European in nature, Prime Minister Alexis Tsipras said on a trip to Moscow on Wednesday. "Greece is not a beggar going around to countries asking them to solve its economic problem, an economic crisis that doesn't only concern Greece but is a European crisis," Tsipras told a news conference with Russian President Vladimir Putin. Tsipras said the two leaders discussed ways for Greece to increase exports to Russia. "Greece is a sovereign country with an unquestionable right to implement a multi-dimensional foreign policy and exploit its geopolitical role," Tsipras said, in response to questions about whether Greece would turn to Russia for aid. More »

  • Greek PM Tsipras meets Putin in talks that irk EU
    Greek PM Tsipras meets Putin in talks that irk EU Wed, Apr 8, 2015

    Russian President Vladimir Putin (R) welcomes Greek Prime Minister Alexis Tsipras at the Kremlin in Moscow on April 8, 2015 More »

  • Greece's overtures to Russia may not be a sideshow
    Greece's overtures to Russia may not be a sideshow Wed, Apr 8, 2015

    Greek PM's trip to Russia may represent an attempt to reorient the country's strategic interests. More »

  • Greek PM in Moscow for Putin meet that rattles EU
    Greek PM in Moscow for Putin meet that rattles EU Wed, Apr 8, 2015

    Greek Prime Minister Alexis Tsipras takes arrives at the Kremlin in Moscow on April 8, 2015 More »

  • Jailed Greek ex-minister's wife escapes from detention
    Jailed Greek ex-minister's wife escapes from detention Thu, Apr 2, 2015

    The wife of a prominent Greek ex-minister jailed for corruption early on Thursday escaped from a psychiatric hospital in Athens, a police source said. More »

  • European stocks slip in opening deals
    European stocks slip in opening deals Wed, Apr 1, 2015

    The CAC 40 in Paris shed 0.48 percent to 5,009.63 compared with Tuesday's close More »

  • Greek bailout deal possible by end April: EU
    Greek bailout deal possible by end April: EU Tue, Mar 31, 2015

    Experts from the IMF and the EU are scrutinising a list of economic reforms proposed by Athens in a bid to unlock another 7.2-billion euros ($7.8-billion) in loans to stave off possible bankruptcy More »