Greek financial crisis - 2009 to present

 

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


PUBLISHED Sun, July 05, 2015 - 4:48pm EDT


"The Greek people made a historic and brave choice. Their response will alter the existing dialogue in Europe," Greek Prime Minister Alexis Tsipras said, "Our immediate priority is to restore our banking system's functioning and economic stability. The issue of our debt will now be on the negotiating table, in light of the IMF's recent report on its sustainability. "





    

 



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 2 yrs   Greece repays International Monetary Fund, clearing arrears

              The Greek government has repaid the International Monetary Fund (IMF) 2 billion euros ($2.17 billion) to clear its arrears, IMF spokesman Gerry Rice says in an emailed statement. "Greece is therefore no longer in arrears to the IMF," Rice said. "The Fund stands ready to continue assisting Greece in its efforts to return to financial stability and growth." Monday's payment was made possible thanks to a 7.16 billion euros ($7.77 billion) short-term loan approved by the European Union on Friday. [full statement attached]


  Greece        78 UPDATES

 


BREAKING

 2 yrs   European Union approves short-term loan for Greece pending new bailout

              The European Council has approved a short-term loan of 7.16 billion euros ($7.77 billion) to help Greece clear its arrears with the International Monetary Fund (IMF) and to allow the Bank of Greece to repay the European Central Bank. The short-term loan, which has a maximum maturity of three months and will be disbursed in up to two installments, is meant to serve as a temporary measure until Greece is able to receive a new bailout from the eurozone. [full statement attached]


  Greece        78 UPDATES

 


BREAKING

 2 yrs   Greek banks to re-open on Monday after ECB increases emergency funding - bankers

              Greek banks plan to reopen on Monday after the European Central Bank decided to increase its emergency funding by 900 million euros, the Athens News Agency (ANA) is reporting, citing banking sources. The Reuters news agency also reported the news, citing an unnamed senior banker. An official decision on the re-opening of banks is expected to be made later today. Banks in Greece have been closed since June 29 with a daily limit of 60 euros on ATM cash withdrawals.


  Greece        78 UPDATES

 



 2 yrs   European Central Bank increases emergency funding for Greek banks

              The European Central Bank has decided to increase its provision of emergency liquidity assistance (ELA) to Greek banks by 900 million euros, providing some much-needed relief for Greek banks that have been closed for weeks due to the financial crisis. "All the recent developments are improving the quality of collateral pledged by Greek banks," said ECB President Mario Draghi.


  Greece        78 UPDATES

 



 2 yrs   European Central Bank increases emergency funding to lenders by $978 million over 1 week - CNBC


  Greece        78 UPDATES

 


 


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