Greek debt crisis travel advice: Take enough cash to Greece, government advises British tourists June 28, 2015 The government has advised British holidaymakers travelling to Greece that they may be faced with limited access to banking services as the country's bailout negotiations flounder leaving banks under pressure supply the country with cash. The Foreign and Commonwealth Office (FCO) has updated its advice to travellers, with a specific warning that access to banks [...]
Greek debt crisis: ECB will maintain ELA emergency loan support to Greek banks June 28, 2015 The European Central Bank (ECB) will keep supplying Greece with emergency loans to keep the country's banks running after Greek PM Alexis Tsipras called a surprise referendum on its latest bailout deal. “We continue to work closely with the Bank of Greece and we strongly endorse the commitment of Member States in pledging to take [...]
Greek debt crisis: Gretigue? Alexis Tsipras vents on Twitter as bailout referendum and ECB decision looms June 28, 2015 Maybe he's a bit tired and emotional as his country teeters on the edge of default – and let's face it, everyone else trying to keep up with developments in Greece certainly is, in what's been dubbed "Gretigue" – but Greek PM Alexis Tsipras has vented his frustrations in a hashtag fueled tirade against Europe's [...]
Greek debt crisis: European Central Bank reportedly ending ELA emergency loans to Greece June 28, 2015 Europe may cut off its emergency loans to Greece which is keeping the country's banking system afloat. The European Central Bank (ECB) will stop providing Emergency Liquidity Assistance (ELA) to Greece, the BBC reports, citing unnamed sources. Latest: The ECB's support for Greece will continue The ECB is expected to meet today to decide the next [...]
Greece debt crisis: Parliament approves Alexis Tsipras’s call for referendum on bailout deal terms June 28, 2015 Ministers in Greece have approved plans to hold a referendum on the country's new bailout deal on 5 July. Prime Minister Alexis Tsipras called a surprise referendum on the new deal terms after a week of negotiations with European leaders. EU ministers yesterday rejected Greece's request to extend its existing bailout beyond 30 June expiration [...]
Greece leaves Eurogroup meeting as bailout extension is rejected June 27, 2015 Greece has walked out of today's Eurogroup meeting after its request for a bailout extension was turned down by Eurozone finance ministers. Read more: Alexis Tsipras calls bailout referendum Eurogroup president Jeroen Dijsselbloem said despite offering the "maximum" possible flexibility, its proposals were rejected meaning the existing Greek bailout programme will expire on Tuesday night. [...]
Greek PM Alexis Tsipras calls bailout referendum June 27, 2015 Greece Prime Minister Alexis Tsipras has called a 5 July referendum on a bailout deal on with its creditors, saying "the people must decide free of any blackmail". Read more: European Commission President says proposals "good basis for progress" Proposals for a five-month extension to its bailout deal, aimed at unlocking €7.2bn (£5bn) to avoid the country [...]
How Argentina’s struggle in the late 1990s could provide lessons to Greek leaders June 26, 2015 As Greece teeters on the brink of default, its leaders could do worse than to look to Argentina's own tussle with default back in the late 1990s. Why they're similar Like Greece, the economic crisis in Argentina began against a backdrop of deregulation and financial liberalisation – although in Argentina's case, its convertibilidad policy pegged the [...]
Greece rejects bailout extension proposals as Juncker takes positive stance on deal June 26, 2015 Greece has rejected proposals for a five-month extension to its bailout deal – as European President Jean-Claude Juncker took an optimistic stance on the chances of the country reaching a deal with its creditors this weekend. Read more: Has the IMF compromised its credibility over Greece's bailouts? At a press conference following two days of [...]
London house prices: The average cost of a single brick in the capital is now just shy of £200 June 26, 2015 Rocketing house prices in the capital mean the average brick in a London house (RRP: 67p) is now valued at just short of £200, research has found (assuming it's attached to other bricks, and a bit of mortar, that is…). The research, by online estate agent HouseSimple.com, was based on the fact it takes about [...]