Greek is heading towards a third round of bailout package when the crisis-hit nation is about to make repayment of euro 3.2billion to the European Central Bank. The third bailout plan for ailing Greece economy is creating tremors in the European Union (EU). German's decision is crucial on Wednesday.
Greece
Tax hike, cost reduction in Greece budget for 2016
Alexis Tsipras-led Greece government has proposed stringent measures in the budget for 2016 year. The draft budget for 2016 indicated a series of tough measures to restore normalcy in the ailing Greece economy.
Alexis Tsipras retains economic government to battle crisis
The new left-wing government of Greek Prime Minister Alexis Tsipras is tasked to tackle the worst modern day crisis took office on Wednesday, just three days after the Syriza party was returned to the seat of power.
Creditors Want Greek Grand coalition After Sunday Election
International creditors hope for a united grand coalition in the Greek government, especially between the Syriza and the New Democracy party, who are going neck to neck in the upcoming September 20 elections.
Greece elections: Clear mandate holds the key on $96-bn bailout package
Greece is set for elections on 20 September this year. Judge Vassiliki Thanou is the care taker Prime Minister till the new government is formed. Thanou was sworn in on last Friday and became the first female Prime Minister for Greece.
Latest News
On a stiflingly hot summer night, the ancient Greek amphitheatre of Epidaurus is packed to capacity for a performance of a 2,400-year-old play by Aristophanes -- testimony to Greeks' enduring love of theater despite years of grinding economic crisis.
Greek government officials discussed a draft of the country's third bailout agreement drawn up on the basis of discussions with EU/IMF lenders, a government official said on Saturday, boosting hopes a deal could be wrapped up in days.
The first two days of Greek market activity saw nothing but bloody reds as the Athens Stock Exchange witness massive selloffs from foreign investors unrestricted by current capital controls that limit withdrawals from local banks to a measly €60.
A black Monday for Greece's stock market. Its benchmark Athens Stock Exchange Index ended the day 16% lower after it re-opened for the first time in five weeks.
Greek depositors lined up outside banks Monday as banks reopened three weeks after closing their doors. But while people can now withdraw money, restrictions remain and, with new taxes, they will have to shell out more for goods and services.
Greece surrendered to Europe's demands, approved austerity measures to possibly receive a bailout and finally "Grexit" out of the Euro.
Greeks woke up to shuttered banks, closed cash machines and a climate of rumors and conspiracy theories on Monday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.
Greece said it may impose capital controls and keep its banks shut on Monday after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level.
As the big global banks and investment houses see it, almost every outcome of Greece's stand-off with its creditors leads to a weaker euro. So why isn't the single currency falling?
