Tag: European Central Bank (ECB)

• Wednesday, July 15th 2015 - 06:40 UTC

  Greek parliament must vote on Wednesday Euro zone bailout conditions

  

  Greek Prime Minister Alexis Tsipras says he does not believe in a bailout offered by Euro zone leaders, but is willing to implement it. Tsipras described the deal as “harsh”, but said it was the only way for Greece to remain in the Euro.

• Thursday, July 9th 2015 - 06:10 UTC

  Greek banks to remain closed until next Monday as ECB caps funding

  

  The European Central Bank capped the amount of emergency funding it is providing to the Greek banking sector at €88.6 billion on Wednesday, in a sign that the central bank is awaiting the outcome of this weekend’s crunch talks on Greece before deciding whether to extend a further financial lifeline to the indebted country.

• Wednesday, July 8th 2015 - 08:12 UTC

  Grexit Day next Sunday, Euro Zone members warn Tsipras

  

  Euro zone members announced on Tuesday that they have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin.

• Tuesday, July 7th 2015 - 07:01 UTC

  Greek finance minister ousted because he favored a 'parallel currency'

  

  Yanis Varoufakis, who was Greece's finance minister until Monday morning, was reportedly pushed from his job after he told a journalist that Greece could introduce a parallel currency in the weeks ahead. Cash is flooding out of Greek banks at the moment, and the government desperately needs money to make payments due later this month.

• Monday, July 6th 2015 - 07:34 UTC

  Euro zone to hold emergency summit to discuss Greek referendum 'no'

  

  Euro-zone nations will hold an emergency summit on Tuesday to discuss the Greek referendum “No” result after the German and French leaders called for a meeting, EU president Donald Tusk said. The special meeting comes as Brussels reels with the implications of what the head of the Euro-group of finance ministers from the 19-country block, Jeroen Dijsselbloem, called a “very regrettable” decision.

• Wednesday, July 1st 2015 - 05:41 UTC

  Greece in IMF 'arrears'; it will default when it misses commercial payment

  

  Greece on Tuesday became the first developed country to join a roster that includes some of the world’s poorest and worst governed nations, including Iraq, Sudan, Somalia and Zimbabwe. Those are a few of the countries that have missed payments to the IMF as Greece did Tuesday, when it failed to make a loan payment of about 1.5 billion Euros, or $1.7 billion, to the fund.

• Tuesday, June 30th 2015 - 07:14 UTC

  EU leaders warn Greeks the referendum vote means “yes or no to the Euro zone”

  

  European leaders have warned Greeks that rejecting creditors' proposals in a snap referendum called for Sunday would mean leaving the Euro. German Vice Chancellor Sigmar Gabriel said the vote would be “yes or no to the Euro zone”.

• Monday, June 29th 2015 - 06:20 UTC

  Greek banks closed and Tsipras takes the dispute with ECB and IMF to the brink

  

  Greek banks are to remain closed and capital controls will be imposed, Prime Minister Alexis Tsipras announced. Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Tsipras underlined Greek deposits were safe.

• Friday, May 1st 2015 - 06:22 UTC

  Euro zone scrapes out of deflation in April; unemployment remains above 11%

  

  Consumer prices in the Euro zone scraped out of deflation in April after four months, official data has shown, boosting hopes of economic recovery in Europe. The inflation rate in the 19 nations that use the Euro stood at 0% in April, up from a rate of -0.1% in March. Eurostat said that low energy costs were continuing to cut living costs.

• Monday, April 20th 2015 - 06:31 UTC

  IMF warns “lower growth” becoming a relevant challenge over the medium term

  

  The International Monetary Fund warned in a communiqué that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports.