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As Greek deadline looms, this is how the next days could play out
EconomyProgramme. On that date Greece has to pay 1.55 billion euros to the International Monetary Fund due to the bundling of four tranches that were due within June. IMF managing director Christine Lagarde has ruled out any... that in such a case the European Stability Mechanism (ESM) has the option to reclaim the 131
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Greek talks go down to the wire as IMF raises major objections
PoliticsGreek PoliticsThe government has been concerned since it submitted its proposals early on Monday... Jeroen Dijsselbloem has been instructed by European Union leaders to wrap up the process ahead of their summit on Thursday. The concern for Tsipras will be that if he has to adopt cuts to pensions
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Tsipras opts for referendum, leaving many issues open
PoliticsGreek PoliticsPrime Minister Alexis Tsipras has made a surprise move by calling a referendum on the institutions.... The government has 162 seats and coalition partner Independent Greeks has said it will support... whether that will still be on the table following Saturday's Eurogroup. Also, Greece has 1.6 billion
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Newsletter 33 - 03/07/2015
would have to remain closed. This would wreak further damage on the economy, which has already... lenders, though, agree to such an arrangement given that the trust with Greece has been obliterated... away if he is prepared to sign a deal and has the Greek people’s packing to do so. Such a move could
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Yes or no, complex political developments lie ahead for Greece
PoliticsGreek PoliticsMinister Yanis Varoufakis claimed that the government has a proposal it would be ready to sign... economy, and July 20 (when Greece has to redeem a 3.5-billion-euro bond held by the European Central... is not conclusive. There has been a suggestion that the moderates in SYRIZA might prove accommodating
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Divided we fall?
Agorastressed the need of unity in his speech after the referendum but divisiveness in Greece has been... to the constant speculation about whether Greece deserved to stay in the eurozone, their decision-making has... that has convinced itself that its homespun fables will come true even though reality has consistently
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Tsipras tries to switch focus from measures to need for survival in euro
PoliticsGreek PoliticsPrime Minister Alexis Tsipras has made it clear that he believes the agreement reached with lenders... in” but that the country has no option but to accept it. In an interview with public broadcaster ERT... in the single currency would counterbalance the recessionary impact of the austerity measures Greece has
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S&P raises Greece’s rating by two notches in first upgrade since Sept 2014
Economy’s liquidity perspective has improved and therefore thinks that Greece’s default is no longer... has reduced this risk. However, if Greece does not successfully implement the new ESM programme.... That said, the extended bank holiday has materially depressed retail trade and manufacturing and has
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Varoufakis adds to pressure on Tsipras ahead of lenders' return
PoliticsGreek Politicshas attempted to distance himself from Varoufakis since reaching an agreement with fellow euro area... theoretically has to be in place so Greece can received the necessary funding to meet the maturity... of such legislation not passing as the opposition parties will continue to support Tsipras and, if Parliament has
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On the Greek crisis and German imbalances
Agorahas been recognized for a while by leading American economists like Maurice Obstfeld (the IMF's new... by the economics profession that the Greek fiscal adjustment has been extreme and has not been... Krugman, has never taken a look at the Greek input-output tables (or the Cypriot ones two years ago
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