Tag Archives: Greece

Greece’s prime minister rejects ‘absurd’ proposal from lenders: ‘A bad negotiating trick’


ATHENS – Athens delayed a 300 million euro payment towards the International Monetary Fund on Friday and Pm Alexis Tsipras spurned an \”absurd\” proposal from lenders in the impasse that threatens to push Greece into bankruptcy and out of the euro. In an address aimed at winning parliament\’s backing for his rejection of the terms, Tsipras balanced indignation with expressions ...

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How the IMF doomed Greece to disaster and put its own future in doubt


Analysis The International Monetary Fund is in very serious trouble. Events have reached a point in Greece in which the Fund\’s own credibility and long-term survival are at stake. The Greeks aren\’t withholding a euros 300 million payment to the IMF because they have run out of money, though they soon is going to do. Five key players within the ...

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What is the worst that could happen if Greece actually defaults?


The threat of Greece defaulting is all over the headline news, but investors apparently couldn\’t care less. Is political contagion the bigger Greece risk? Financial contagion may be the big concern today as talks between Greece and its creditors have collapsed for the umpteenth time.Read on European stocks actually rose Tuesday despite the fact that Greece seems to be on ...

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TSX rises on optimism over Greece as materials shares climb


TORONTO – The Toronto Stock Exchange was solidly ahead for any second consecutive session Tuesday with almost all sectors higher. The S&P/TSX composite index advanced 110.04 points to 14,900.52 at midafternoon, contributing to Monday\’s 137-point gain because the heavyweight mining, energy and financials sectors all trended higher. The loonie was down 0.11 of a U.S. cent at 81.02 cents. In ...

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Here’s what Greece and its creditors still disagree on


As eurozone finance ministers struggle to find a way to avoid a Greek default in a few days, the key issue is how to fix Greece’s budget. A leaked form of a new proposal obtained by the Financial Times on Thursday shows that Greece’s creditors have offered some compromises on reforms. Whether Greece accepts these or otherwise remains to be ...

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Five scenarios for Greece in the coming days


Talks have divided between the Greek government and its creditors and financial markets are panicking about Greece’s fate. Whether Greece leaves the eurozone or not, it is going to a world of pain Chidley: The economic crisis in Greece will deepen, leading to more social unrest. But will the Greeks\’ pain become Europe\’s – and also the world\’s? Continue reading ...

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Outside of Greece, global angst likely to be ‘short lived affair’


For all the angst being developed by the escalating havoc in Greece and the possibility that it\’ll leave the eurozone, the result on world markets seemed contained despite an extensive selloff on Monday. Many analysts even seemed to find some joy as Europe’s primary benchmark, the Euro Stoxx 50, fell a lot more than four per cent during the session, ...

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Whether Greece leaves the eurozone or not, the country is headed for even more pain


Greece is supposed to spend the money for International Monetary Fund (IMF) almost 1.6-billion euros by next weekend. It\’ll almost certainly miss that payment. Its hopes of securing an extension of bailout funding in the IMF, European Union and European Central Bank are nearing zero. That mark is going to be hit unless Greece and it is creditors somehow snatch ...

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Greece’s creditors face ‘Sopranos’ moment: How do you get money from someone who doesn’t have any?


Watching the continuing saga from the Greek debt crisis, the first is reminded of an early scene within the Sopranos, when Tony runs his nephew\’s Lexus on the poor shlub who hasn\’t paid his gambling debts. Soprano then proceeds to conquer the living daylights out of the guy while yelling \”Where\’s our f-ing money?\” over and over. Now, granted, Christine ...

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Greece stocks and bonds are so bad not even vulture funds will touch them


Greece has become too distressed for distressed-debt funds. Greece on the floor: Six indications of an economy on the ropes As Greece reels, life is constantly on the move forward within the economically unstable country. Listed here are examples of some of the major issues Greece is dealing with That\’s the kind of slump that will usually attract investors trying ...

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