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 2 yrs | Greece misses debt payment deadline, becomes first developed country to default on IMF loan

              Clocks have struck midnight in Brussels without the required debt payment from Greece to the International Monetary Fund (IMF), making Greece the first developed country to default on an IMF loan. The confirmation that Greece failed its obligation to pay €1.55 billion ($1.73 billion) means that the country has lost the last European Financial Stability Facility (EFSF) loan tranche of €1.8 billion ($2.0 billion), as well as €10.9 billion ($12.1 billion) in EFSF notes to cover the potential cost of bank recapitalization.   



 2 yrs | Jeb Bush releases 33 years of tax returns, most ever by a U.S. presidential candidate

              Republican presidential candidate Jeb Bush has released 33 years of tax returns - more than any other presidential candidate in the history of the United States - in a move that will likely pressure his rivals to reveal their own records. The documents released by the Bush campaign showed that the Republican's average effective tax rate for the last 33 years was 36 percent, more than the 12 percent on average paid by middle-income households. Bush said his total net worth is between $19 million and $22 million, which was mostly amassed through investments and speaking fees.   

  United States        336 UPDATES


 2 yrs | Nike co-founder Phil Knight to step down as chairman in 2016

              “For me, NIKE has always been more than just a company – it has been my life’s passion,” said Knight in a statement released Tuesday. “Over the years, I’ve spent a great deal of time considering how I might someday evolve my ownership and leadership of NIKE in a way that benefits all of our stakeholders. Today, we have taken a number of important steps that will continue to promote NIKE’s long-term growth.”   

  Beaverton, OR     



 2 yrs | Fitch downgrades Greece to CC, one notch above default

              Fitch Ratings has downgraded Greece's long-term foreign and local currency Issuer Default Ratings (IDRs) by one notch from 'CCC' to 'CC,' just one notch above a default, the organization says in a statement. The issue ratings on Greece's senior unsecured foreign and local currency bonds have also been downgraded by one notch to 'CC,' while the Short-term foreign currency IDR has been affirmed at 'C'. The Country Ceiling has been lowered by one notch to 'CCC' from 'B-'.   



 2 yrs | Eurozone’s bailout fund confirms Greek bailout program will end at midnight

              The European Stability Mechanism (ESM) confirms that the bailout program for Greece will expire at midnight CET after the Greek government confirmed that it is unable to meet its obligation to pay a €1.55 billion ($1.73 billion) tranche to the International Monetary Fund (IMF). As a result, the last European Financial Stability Facility (EFSF) loan tranche of €1.8 billion ($2.0 billion) will no longer be available and the €10.9 billion ($12.1 billion) in EFSF notes to cover the potential cost of bank recapitalization in Greece will be canceled. [full statement attached]   

  Greece        78 UPDATES


 2 yrs | At least 20,000 pro-Europe protesters rally in Athens as default looms

              Some 20,000 people rallied in Athens tonight to express their support for a bailout deal with international creditors, just hours before Greece is set to default on a debt payment to the International Monetary Fund (IMF).   

  Athens, Greece        78 UPDATES


 2 yrs | Obama, Rousseff agree to improve trade, travel between the U.S. and Brazil

              U.S. President Barack Obama and Brazilian President Dilma Rousseff have agreed to take a series of steps to make it easier for people to travel between the two countries and to improve trade and investment cooperation, according to a joint statement from the leaders. [full statement fact sheet attached]   



 2 yrs | India bans oil trade with the Islamic State, related groups

              India has banned the trade in oil and related products with the Islamic State, the commerce department says, complying with a UN Security Council resolution that was adopted in February. "Trade in oil and refined oil products, modular refineries and related materials, besides items of cultural (including antiquities), scientific and religious importance is prohibited with the Islamic State in Iraq and the Levant [ISIL], Al Nusrah Front [ANF] and other individuals, groups, undertakings and entities associated, directly or indirectly, with Al Qaida," the department said. [full statement attached]   

  India        115 UPDATES



 2 yrs | Greece proposes 2-year agreement to cover financial needs while restructuring debt - Reuters

              The Greek government has submitted a proposal for a two-year aid proposal with the European Stability Mechanism (ESM) that would allow the country to fully cover its financial needs while simultaneously restructuring its debt, the Reuters news agency reports, citing a statement from the prime minister's office. "Greece remains at the negotiating table," the statement said, according to Reuters.   

  Greece        78 UPDATES


 2 yrs | Germany’s Merkel says no breakthrough in Greek debt crisis talks,  door remains open - AP

  Greece        78 UPDATES


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VIDEO: Greek voters reject bailout terms, crowds gather in Syntagma Square     2 yrs  

At least 20,000 pro-Europe protesters rally in Athens as default looms     2 yrs  

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