Topic: greece crisis

Greece approves new batch of reforms for multi-billion dollar bailout

Greek lawmakers have overwhelmingly approved a new batch of reforms demanded by the country's international creditors in return for a third multi-billion euro bailout.
Analysis

Waiting for the next Greek crisis: Don Pittis

A celebration by global markets that Greece is 'returning to normal' may be premature, says Don Pittis. A clash between two of Europe's great institutions means this is a crisis that has legs.

Greece crisis: Government submits bill needed to start bailout talks

The Greek government submitted legislation to parliament on Tuesday required by its international lenders to start talks on a multi-billion euro rescue package.

Greece crisis: Banks reopen as government tries return to normalcy

Greek banks opened their doors Monday for the first time in over three weeks, a move that the government hopes will help the economy get back to normal following a period dominated by fears over the country's future in the euro.

Greece crisis: Banks re-open Monday with tight cash withdrawal limit

Greek banks are reopening Monday after a forced 3-week closure but restrictions on cash withdrawals will remain.

Greece crisis: Tsipras shuffles cabinet after anti-austerity mini rebellion

German lawmakers on Friday cleared the way for potentially difficult negotiations on a new, third bailout package for Greece that is expected to be worth 85 billion euros.

Greek banks to reopen Monday as EU bailout vote passes

​Europe moved to re-open funding to Greece's stricken economy on Thursday, hours after a fractious Greek parliament approved a tough bailout program in a vote that left the government without a majority and looking to new elections within months.

Greek parliament passes austerity bill despite dissent

Greek lawmakers voted overwhelmingly early Thursday to approve a harsh austerity bill demanded by bailout creditors, despite significant dissent from members of Prime Minister Alexis Tsipras' left-wing party.
Analysis

Greece crisis: What the deal with eurozone demands

Now that Greece has agreed to wide-ranging reforms in order to secure a third bailout from the eurogroup, it is facing a strict timetable to implement those changes. Here's a look at the specifics of the deal.

Greece crisis: Country needs far more debt life than claimed, IMF leak reveals

With members of his own party openly denouncing a preliminary rescue deal struck with Greece's European creditors, PM Alexis Tsipras must fight to cling to his government's majority after he was forced to introduce punishing austerity measures.

Greece crisis: Deal reached with European creditors, euro exit avoided

Greece reached a deal with its European creditors Monday that avoids an exit from the euro and the global financial chaos that prospect had raised.

Greece crisis: Eurozone leaders debate compromise proposal

Euro zone leaders at an emergency summit in Brussels were to reconvene in full session early on Monday to discuss a compromise proposal on a third bailout for Greece.

Greece crisis: Talks with skeptical creditors at Brussels summit to resume Sunday

Bailout discussions between the Greek finance minister and his skeptical counterparts in the 19-country eurozone will resume Sunday after breaking up following more than eight hours of talks without any apparent breakthrough that will secure the country's future in the euro.

Greek crisis no windfall for thrifty travellers - yet

Canadians hoping to see Greece for a song aren't likely to find cheap flights to the cash-strapped country just yet. Agents say there's little room to bargain during peak season. But that could change, quickly.

Greek parliament OKs reform proposals as basis for talks with creditors

Greek lawmakers have approved a government motion seeking authorization for reform proposals as a basis for negotiations for a third bailout in talks with international creditors this weekend.

'Grexit' looms if no Greece debt agreement at weekend EU summit

The European Union will decide on Sunday whether to extend more help to its fiscally floundering member, Greece; or it could reject the country's proposal and subsequently push it out of the EU, observers say.

Greece crisis: Higher taxes, pension cuts in new proposal

Greece met a deadline that counted on Thursday and made a series of sweeping proposals that its creditors needed by midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation.

Greece Crisis: PM Alexis Tsipras asks for 3rd bailout

With a deadline just hours away to come up with a detailed economic reform plan, Greece requested a new three-year rescue from its European partners Wednesday as signs grew its economy was sliding toward free-fall without an urgently needed bailout.

Greek PM Alexis Tsipras's path to power

Alexis Tsipras, 40, is Greece's youngest prime minister in over a century and a half. But while he has been a political animal since his youth, joining the Communist youth at age 14, he had a different career path planned.
Analysis

Europe losing patience with Greek fiscal crisis

When it comes to Greece, punishment, say the polls, is what most Germans want. But, Don Murray asks, is fury and politics the way to deal with Europe's latest existential crisis?

Greece gets until Sunday to come up with proposal to stave off collapse

Greek Prime Minister Alexis Tsipras says his government has submitted a proposal for staving off financial collapse in his country to eurozone leaders and to the European Council as EU President Donald Tusk said Greece had until Sunday to propose a new bailout deal.

Greek bailout vote prompts big drop in oil, loonie

The price of oil plunged by more than $4 US a barrel Monday following the strong No Greek voters delivered in Sunday's bailout referendum and the Canadian dollar hit a three-month low.
Analysis

In rejecting austerity, Greek voters force Germany's hand

As Europe's ultimate paymaster, German politicians are furious with Greece for its spendthrift ways and high-stakes referendum tactics. But, Don Murray writes, does Chancellor Angela Merkel want to go down as the leader who presided over Europe's breakup?

Greek bailout referendum: ECB says no new emergency funds for Greek banks

The European Central Bank said on Monday it was keeping the level of emergency credit to Greek banks unchanged, putting the banks under increasing pressure as they try to cope with cash withdrawals.

Greek bailout referendum: World leaders react to No vote

World leaders, especially in Europe, are reacting to Greek voters who rejected a bailout plan in Sunday's referendum, and one politician says a new aid package is "difficult to imagine."

Greek bailout referendum: 'No' side celebrates decisive win

Greeks overwhelmingly rejected conditions of a rescue package from creditors on Sunday, throwing the future of the country's euro zone membership into further doubt and deepening a standoff with lenders.
Live Blog

Greek crisis: Follow breaking updates from CBC News

CBC News brings you the latest developments on the eurozone's deal with Greece.

Greek referendum voters unclear on question, potential aftermath

In the space of a week Greece has slid from difficult negotiations with its creditors into full-on crisis mode with banks on life support and a seminal referendum just a heartbeat away — one that could start to unravel the country's cherished place in the heart of the EU.
Analysis

What will Sunday's Greek referendum mean? Here are some possible outcomes

In the fast-moving situation in Greece, there are few certainties. But we do know a few things that are possible — even likely — no matter which way Greeks vote on Sunday.

Greece debt crisis: IMF suggests debt relief as referendum campaign begins

The battle for Greek votes is in full swing today ahead of a crucial weekend referendum that could decide whether the country falls out of the euro, but the IMF suggests the next step might be negotiating debt relief, a key demand by Prime Minister Alexis Tsipras.

Greece crisis: The sticking points that scuppered bailout talks

Greece has defaulted on its repayments to the International Monetary Fund and its bailout program has expired — leaving Athens to seek a third support package as its banks and stock market remain closed. Here's a look at the differences between Greece and its creditors that will have to be resolved if a new bailout deal is to be reached.

Greece financial crisis: IMF loan repayment deadline passes with no deal

Greece missed its midnight deadline to make a €1.6-billion ($2.2 billion) payment to the International Monetary Fund and is now technically in arrears.

Greece says crisis won't affect tourists, but Canada urges travellers to bring cash

Greece, at pains to protect one of the economy's only bright spots, rushed on Monday to assure tourists that their holidays would be untouched by the restrictions imposed to protect the tottering banking system.

Greek financial crisis: what you need to know

The financial chaos in Greece reached a new peak Monday, with long lineups at cash machines and protests involving burning euros. Global stock markets suffered big selloffs.

Greek banks to remain closed, withdrawals to be restricted

Greece's five-year financial crisis took its most dramatic turn to date Sunday, with the cabinet deciding, after an 8-hour session, that Greek banks would remain shut for six working days and restrictions would be imposed on cash withdrawals.
Analysis

Greek crisis needs more than a Band-Aid solution: Don Pittis

For now, European politicians will have won the day if they can reach a deal to keep Greece from going terminal. But the country needs continued care to get back on the road to economic health.
Analysis

Why Europe can't let Greek economy crumble: Don Pittis

As one of the world's richest and most powerful economies, the European Union cannot let a member state drown in debt or crumble under austerity. Quite fairly, the EU is wary of setting a precedent. But its credibility is at stake with Greece, Don Pittis writes.