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Greek Prime Minister Alexis Tsipras again asked his country to say no to austerity in the referendum on Sunday and said that an assessment by the International Monetary Fund justified the government's position. In a televised address on Friday, Tsipras said Greeks must "say no to ultimatums and division"...

Greek Prime Minister Alexis Tsipras addressed the nation on television on Wednesday and said that the July 5 referendum on whether to accept or reject creditors' proposals was not about the country's euro membership and asserted that a 'no' vote did not mean exit from the euro and Europe. Tsipras...

Greek Prime Minister Alexis Tsipras expressed willingness to accept almost all the bailout proposals put forward by creditors' earlier, the Financial Times newspaper reported Wednesday. Citing a letter Tsipras sent late Tuesday to the heads of the European Commission, International Monetary Fund and...

Euro-Greece-Flag-063015.jpg As the clock ticks on, the European Union and Athens are once again lining up last minute efforts to prevent Greece from going over the cliff into the unknown and etch a sorry chapter in the 16-year history of the euro. The Greek government has submitted a request for a two-year bailout, along with debt restructuring. Eurogroup is set to hold an emergency conference call at 7 pm Brussels time.

Greece has responded to a last-minute offer from creditors with a request for a two-year bailout and debt restructuring. The Greek government has submitted a request for a two-year bailout with the European Stability Mechanism (ESM) to fully cover its financing needs, along with debt restructuring,...

greece-euro-062915.jpg Even as disheartened Greeks queued up in front of ATMs over the weekend in an attempt to extract their cash, European leaders on Monday urged them to vote 'yes' in the upcoming referendum on the bailout, stressing that it was in the country's interest that it remains in the euro area.

Greece-062915.jpg  Greece closed its banks and imposed capital controls on Monday in order to avoid a financial collapse as the failure of debt talks with the EU makes it difficult to honor the payment due on June 30. The banks will remain closed until July 6 and introduced a limit of 60 euro on daily cash withdrawals from cash machines after the European Central Bank froze its funding for Greek banks.

UN Secretary-General Ban Ki-moon has urged the authorities of Burundi to consider the postponing of the elections scheduled for July 15. "Deeply concerned over the prevailing political and security environment in Burundi, the Secretary-General appeals to the Burundian authorities to seriously consider...

Previewing what he hopes will be the last round of United Nations-backed political talks on Libya, the UN envoy for the country said Friday the fact that all the participants in the dialogue have accepted a fourth draft proposal as the basis for a final political solution is "extremely encouraging" that...

Greece-EU-062615.jpg Greece's creditors have proposed a five-month extension of its current bailout programme if the government agrees to a set of reforms, reports said citing officials and leaked documents. The country's massive EUR 240 billion bailout will be extended till the end of November, when a total EUR 12 billion aid will be offered.

greece-EU-062515.jpg Despite the ongoing brinkmanship and the toxic mix of missed deadlines and myriad proposals, Eurozone is clinging to the hope that Greece will stay in the single currency bloc as a meeting of the region's finance ministers is underway where deal plans from both sides are vying for their attention.

Eurozone-Greece-062415.jpg Greece and its creditors are holding crucial talks in Brussels on Wednesday to reach an agreement over new reform proposals to be presented for approval at a meeting of Eurozone finance ministers later in the day that could unlock financial aid for the country and help it avoid a default and an eventual exit from the euro.

Greece-Flag-062315.jpg Fresh reform proposals submitted by Greece on Monday are being scrutinized by the country's creditors to weigh the scope for reaching an agreement in the Eurogroup meeting set for Wednesday, while 'Grexit' worries refuse to die down as voices of dissent are heard in Athens even from within the ruling party, over more concessions being offered.

Eurozone-Greece-062215.jpg Hopes of an agreement between Greece and its creditors later this week have increased after Athens submitted a revised economic reform proposal early Monday to which the Eurogroup have responded with optimism, suggesting that an end to a five-month long deadlock over releasing bailout aid to the cash-strapped country may be near.

New proposals submitted by Greece were seen a 'positive step' in the path to reaching a deal with creditors and work will start immediately with the aim of reaching a final agreement later in the week, Eurogroup President Jeroen Dijsselbloem said Monday. In the press conference following the extra...

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