Greek Debt Crisis 2015
Live updates on the debt crisis in Greece.
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Greek PM to resign, seek snap election in SeptemberATHENS | BY RENEE MALTEZOU
Greek Prime Minister Alexis Tsipras will resign on Thursday to pave the way for early elections on Sept. 20, government officials said, hoping to quell a rebellion in his leftist Syriza party and seal support for a bailout program.Tsipras's decision to return to the ballot box after seven bruising months in power deepens political uncertainty on the very day Greece began receiving funds under its third bailout program with foreign creditors.
But a snap election should allow Tsipras to capitalize on his popularity with Greek voters before the toughest parts of the program begin to bite, and may allow him to return to power in a stronger position without anti-bailout rebels in his radical left Syriza party to slow him down.
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7:19 PM - 20 Aug 2015- Reply
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#Greece PM Tsipras walking now to the Presidential Palace to hand over his resignation to President Pavlopoulos.6:57 PM - 20 Aug 2015
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In these difficult times, we must hold on to - and champion- what matters most: our country and #democracy. Thank you. #Greece6:55 PM - 20 Aug 2015
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The popular mandate I received on January 25th has run its course. Now, the sovereign people of #Greece must weigh in.6:51 PM - 20 Aug 2015
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Shortly, I will submit my resignation, as well as the resignation of my Government, to the President of the Republic. #Greece6:48 PM - 20 Aug 2015
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PM Alexis Tsipras says he will resign this evening. President Pavlopoulos to oversee process for snap elections, expected on Sep 20 #Greece6:46 PM - 20 Aug 2015
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6:48 PM - 20 Aug 2015
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#Greek PM #Tspiras : I ask for your vote in order to, more maturely, complete our governmental programme.6:47 PM - 20 Aug 2015
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#Greece PM Tsipras admits his gov't brought the Greek people "on the edge". "But we managed to get a god deal for the country".6:45 PM - 20 Aug 2015Delete
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#Greece PM Tsipras attacks drachma supporters within Syriza as well 'old parties'.6:43 PM - 20 Aug 2015
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#Tsipras: I feel moral, political obligation to submit to your judgement. Your vote will decide if deal we reached can get us out of crisis6:43 PM - 20 Aug 2015
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In live address to nation, #Tsipras: 'I want to be completely honest, we didnt achieve the agreement we wanted. We're obliged to honor deal'6:40 PM - 20 Aug 2015
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BREAKING NEWS: Greek prime minister to resign later today - government officials4:13 PM - 20 Aug 2015
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Euro zone's have-nots ask - why should Greece get more than us?
Bozena Vargova, a retired physiotherapist from Slovakia, cannot understand why her country should bail out Greeks who often earn twice as much as Slovaks and run up debts.
"I don't feel like we should give anything to Greece," said Vargova, who lives on a pension of 370 euros a month, while the average Greek pension is 833 euros.
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Greek bank curbs hit children's charities just as needs soar
Donations to Greek children's charities have dived since the government imposed drastic curbs on bank withdrawals, putting some volunteer-run services at risk just when they are needed most.
One charity chief is turning to the millions of Greeks who live abroad for help, as business and individual donors at home cannot get hold of cash beyond the 60 euros they are allowed to take out of their accounts each day, or 420 euros every week.
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Greek business warn of closures as capital controls choke supplies
Greece risks seeing a wave of companies forced out of business within weeks because of restrictions on foreign transfers that have persisted even after banks reopened this week, the head of the Athens Chamber of Commerce warned on Tuesday.
In a letter to the finance ministry, Constantinos Michalos said the restrictions meant that companies which relied on foreign suppliers were unable to pay their bills, creating "huge problems" in many sectors.
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Greek PM Tsipras rallies Syriza backing before bailout vote
Greek Prime Minister Alexis Tsipras tried to rally his Syriza party on Tuesday before a vote in parliament on the second package of measures demanded by international creditors to open talks on a new bailout deal.
Tsipras has faced a revolt in the left-wing Syriza party over the mix of tax hikes, market reforms and spending cuts demanded by lenders but is expected to get the package through parliament with the support of pro-European opposition parties.
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Grexit debate down but not out, Argentina lessons remain
Greece just narrowly avoided crashing out of the euro but for sceptics the clock is already ticking on when large-scale default and exit from the "irreversible" euro club are raised once again.
When it is - be that in two months or two years - the lessons from Argentina are sure to be revisited.
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Greek finance minister says crucial for parliament to adopt bailout reforms
It is crucial for parliament to adopt reforms required by Greece's international creditors so that talks on a multi-billion euro bailout can start this week, Finance Minister Euclid Tsakalotos said on Wednesday.
"It's extremely important to wrap up this prior actions procedure so that we can start negotiations on Friday," he told lawmakers as they started debating a reform bill which Greece must adopt on Wednesday to meet the terms of a deal struck with its euro zone peers last week. -
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Greek Prime Minister Alexis Tsipras looks on during a swearing in ceremony of members of his government at the Presidential Palace in Athens, July 18. REUTERS/Alkis KonstantinidisBrinkmanship over a new bailout has cost Greece dearly. Why did it take so long for Alexis Tsipras to agree a deal? -
The Greek government submitted legislation to parliament on Tuesday required by its international lenders to start talks on a multi-billion euro rescue package.Prime Minister Alexis Tsipras has until Wednesday night to get those measures adopted in the assembly. A first set of reforms triggered a rebellion in his party last week and passed only thanks to votes from pro-EU opposition parties.The second bill, though less divisive, will still be a test his weakened majority.It puts into Greek law new European Union rules on propping up failed banks, decreed after the 2008 financial crisis and aimed at shielding taxpayers from the risk of having to bail out troubled lenders. Read more.
Greek Prime Minister Alexis Tsipras looks on as he arrives at his office at the Maximos Mansion after a swearing in ceremony of members of his government at the Presidential Palace in Athens, Greece, July 18, 2015. -
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"Why I voted NO" - translated by the good people @ThePressProject http://t.co/AFkNrlCrLq
— Yanis Varoufakis (@yanisvaroufakis) July 20, 2015 -
Warren Buffett denies he has bought Greek island Aghios Thomàs http://t.co/8pNzqlJVBt /via @OWHnews #GreeceJul. 21, 2015
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Greek banks reopen as Tsipras eyes return to normal
Greeks queued outside banks on Monday as they reopened three weeks after closing to stop the system collapsing under a flood of withdrawals, the first cautious sign of a return to normal after a deal to start talks on a new package of bailout reforms.
However capital controls will remain and payments and wire transfers abroad will still not be possible - a situation which German Chancellor Angela Merkel said on Sunday was "not a normal life" and warranted swift negotiations on a new bailout.
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Hawks vs doves: When it comes to Greece, Draghi has the balance just about right http://t.co/8FTItUC7vI @Hugodixon http://t.co/uQ7r9ovcoh
Jul. 20, 2015- Reply
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Nuclear deal parties not ready to launch dispute mechanism against Iran, prefer more diplomacy: EU
BRUSSELS The remaining parties to the Iran nuclear deal do not see Tehran's breaches as significant and do not intend for now to trigger the pact's dispute mechanism, preferring more diplomacy to ease the crisis, the EU foreign policy chief said on Monday. | Video