Greece Debt Crisis | featured news

Perhaps Greece won’t leave the euro, after all

Greece

Recall the reasons for the current euro panic: Greece is getting bailed out and, in return, it’s supposed to cut spending and raise taxes even further. But Greek voters don’t enjoy this austerity and are rebelling against politicians who agree to the deal. So Germany’s now hinting that Greece might get booted from the euro. Disaster, right?

 

Poll shows Greece electing pro-bailout government

Greek Voters

Greek voters are returning to the establishment parties that negotiated its bailout, a poll showed on Thursday, offering potential salvation for European leaders who say a snap Greek election next month will decide whether it must quit the euro.

 

Greece must stick to bailout terms: IMF's Lagarde

Christine Lagarde

Political leaders in Greece need to show the resolve to stay in the euro zone, which will require Athens to stick to the terms of its rescue package, International Monetary Fund Managing Director Christine Lagarde said on Thursday.

 

Concerned about a euro exit, Greeks pull funds from banks

Greece's president spoke of "fear that could develop into panic" at the country's banks in the weeks before fresh elections that could precipitate Athens exit from the euro zone.

 

World Stocks Drop as Worries Over Greece Intensify

World stock markets dropped Monday as worries intensified over the condition of the eurozone and whether Greece is edging towards leaving the single currency union.

 

Talks turn ugly in Greece

Greece

Talks to broker a coalition government lead to insults and accusations. Europe is watching nervously, fearing the political chaos could threaten the euro.

 

Greek euro exit no longer unthinkable

Greece

Let Greece go: It's a possibility that's being considered more and more publicly in Europe. There have been two and a half years of bailouts, on top of broken promises by Greece to reform. The result: a fifth year of recession and, this week, political chaos. Voters on Sunday favored parties that either oppose the terms of the country's international bailout or want to renegotiate them. If it cannot get more rescue loans, Greece will go bankrupt and likely have to leave the eurozone, the currency union of 17 countries.

 

Greek parties stage last bid to avert new election

The leaders of Greece's once-dominant political parties made a last push on Friday to avert a new election, which a poll showed would give victory to a radical leftist and doom an EU bailout.

 

Greeks May Hold $510B Trump Card

Greece’s next government may hold a trump card worth more than $510 billion if it heeds voters’ demands to renegotiate its bailout with the European Union. The nation owes about 400 billion euros ($517 billion) to private bondholders, public bodies such as the International Monetary Fund and European Central Bank, and other creditors, according to data compiled by Bloomberg. About 252 billion euros of that’s due to official organizations that used their status to avoid the losses suffered by ordinary bondholders when Greece restructured its debt two months ago.

 

Greek political system in chaos

Greece's center-right New Democracy party looks set to get the first chance to form a new government Monday, but party leader Antonis Samaras will have a complicated task after an election where angry voters punished politicians for backing harsh government budget cuts.

 

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