The eurozone’s poorer former communist nations, having themselves endured painful reforms and austerity programmes, are taking a hard line on Greece after its people voted to reject creditors’ bailout terms.
Cutting the ECB’s lifeline to Greek banks would push the country out of the eurozone and recklessly endanger the reputation of the ECB and the euro itself, argues Matthias Kroll.
Renowned economists Thomas Piketty, Jeffrey Sachs and three others urged German Chancellor Angela Merkel yesterday (7 July) to agree to cut Greece’s debt to “avoid further disaster”.
Yanis Varoufakis, a “libertarian Marxist” who played the heavy in Greece’s negotiations with its creditors, has stepped down after helping to secure a historic popular mandate rejecting austerity.
Greece found a new finance minister within hours of the dramatic departure of controversial bad-boy professor Yanis Varoufakis, who alienated so many other finance ministers in the Eurozone that they pushed for his firing
The Greek voters gave a clear no to the creditors’ austerity demands in thereferendum on Sunday. Some commentators believe it’s time for a Grexit, and that this is not the worst solution. Others still want a deal and call for a Marshall Plan and a debt conference as alternative solutions in the debt dispute.
Greece cannot take any more austerity, as it will cause more social unrest and lessen the chance of recovery, a United Nations debt expert said on Monday (6 July).
Resounding OXI win in Greece – Europe reacts
The astounding NO vote that swept every part of Greece will take time to digest and understand and its meaning also depends on how the Europeans respond. But here are some immediate reactions.
Greek crisis could see euro membership emerge as key issue in the Polish election campaign
The challenges facing Europe today have global implications and require global solutions. From the Greek crisis to migration and climate change, the EU must seek answers beyond its borders, argues the European Think Tanks Group.
Russian President Vladimir Putin is to meet world leaders today (8 July) including China’s Xi Jingping and India’s Narendra Modi ahead of the start of a summit of the BRICS emerging economies.
Bernd Lucke, a founder of Alternative for Germany (AfD) is considering creating a new party with his association Weckruf 2015, after a dramatic shift right in the party. EurActiv Germany reports.
Hollande has failed to paint a French vision for the Eurozone
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