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.
Tags: Alexis Tsipras
IMF Chief Lagarde Vows To Speedy Conclusion In Greek Bailout Review
In response to a letter from the Greek Prime Minister Alexis Tsipras, Christine Lagarde, the IMF chief, has binned the Wikileaks’ transcript. Since IMF doesn’t act on leaks, she decided to allow the IMF team to resume the postponed bailout review. She has stressed the need for a speedy conclusion of the bailout review just for the sake of the Greek people.
Greece Recalls Its Ambassador in Austria Over Migrant Dispute
Greece recalled its ambassador from Austria, following Austria's decision to close its border for migrant. While majority of people are not satisfied with government's way in handling economic crisis.
Greece Bailout: Central Bank Shows Support to Implement Pension System Reform
The government of Greece has been faced with a controversy whether to approve bailout reforms required by international creditors. Bank of Greece have shown support that encourages the government to conform with the required reforms, including the tough pension system reform.
Update of Greece Economic Crisis in 2016
Greece was the highlight in 2015 economy when the country's economic crisis continued to a political unrest. The country faces 2016 with uncertainty after disagreement with its creditors.
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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.
Greece's Prime Minister, Alexis Tsipras, resigned recently, triggering a snap election on September. This is just in time as the country is about to tap it new 86 billion bailout package.
U.S. stocks fell in a volatile Monday session as Greeks resoundingly backed their government in rejecting the austerity terms of a bailout and China implemented emergency measures to stop a selloff in Shanghai's market.
U.S. stock index futures fell on Monday after Greece rejected debt bailout terms, throwing the future of the country's euro zone membership into further doubt.
U.S. stocks closed down slightly on Thursday after the International Monetary Fund warned Greece ahead of its Sunday referendum that it faces a huge financial hole, and mixed jobs data dampened the U.S. economic outlook.
The Swedish crown sank 1 percent on Thursday after Sweden's central bank surprised markets by cutting interest rates deeper into negative territory and saying it would pump more money into the economy, citing risks from Greece.
The dollar was near a three-week high on Thursday and world stock markets had a delicate feel, as the implication of U.S. jobs data later for a possible Fed rate hike added to Europe's uncertainty over Greece.
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.
Global financial markets are braced for a wave of contagion from Greece on Monday, with expected heavy losses for southern European government bonds and regional stock markets as investors scramble to discount a possible "Grexit" that most had still assumed was unlikely as late as Friday afternoon.
