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Montevideo, December 11th 2023 - 19:34 UTC

Tag: Greece default

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

    Greek parliament must vote on Wednesday Euro zone bailout conditions

    Tsipras: “I assume responsibility for a text I do not believe in, but which I signed to avoid disaster for the country, the collapse of the banks.”

    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.

  • Saturday, July 11th 2015 - 05:30 UTC

    IMF trims forecast for global growth because of recent US economy weakness

    “Stress tests reassure us and make us think that if things go badly in Greece ... the rest of the world would probably survive quite well,” Blanchard said.

    The International Monetary Fund has trimmed its forecast for global economic growth for this year to take into account the impact of recent weakness in the United States. But the global financial institution said growth prospects for next year remain undimmed, despite Greece's debt crisis and recent volatility in Chinese financial markets.

  • Friday, July 10th 2015 - 07:51 UTC

    In a world of high debts, ”we have to be ready for episodes like this (Greece)” says IMF

    Blanchard said Greece is a small part of the world economy and its possible exit from the Euro zone should have limited impact on the rest of the world

    The International Monetary Fund on Thursday said it seemed Greece's crisis and market volatility in China would not affect when the US Federal Reserve chooses to raise interest rates. However earlier in the week the IMF suggested United States delays raising interest rates, warning that economic growth could be “significantly debilitated” by a soaring greenback.

  • Thursday, July 9th 2015 - 06:10 UTC

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

    If “there is no more political accord in sight for a program, then our rules force us to stop completely,” said ECB member Christian Noyer

    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 - 08:03 UTC

    Obama calls Merkel and Tsipras calling for constructive talks

    The president “reiterated that it is in everyone's interest that Greece and its creditors reach a mutually-acceptable agreement”

    President Barack Obama on Tuesday analyzed the Greek situation in separate telephone calls to Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel, the White House said. Obama began his day with a phone conversation with Merkel, followed by another call to Tsipras.

  • Tuesday, July 7th 2015 - 07:21 UTC

    Merkel and Hollande tell Greece the door for serious proposals remains open

    In Paris Merkel and Hollande said Athens must move quickly if it wants to secure a cash-for-reform deal with international creditors (Pic AFP)

    France and Germany told Greece to come up with serious proposals in order to restart financial aid talks, raising pressure on Prime Minister Alexis Tsipras to compromise a day after his country voted overwhelmingly against more austerity

  • Monday, July 6th 2015 - 07:34 UTC

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

    Commission president Juncker will hold a teleconference on Monday with European Central Bank chief Mario Draghi, Tusk and Dijsselbloem

    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

    S&P’s said it would designate Greece as being in default, if it cannot make payments to private creditors: ie €2 billion in Greek Treasury bills due 10 July

    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.