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The Greek government announced on Monday that Euclid Tsakalotos, who was minister of international financial relations, will be the country's new Finance Minister. He replaces Yanis Varoufakis, who earlier in the day announced he is resigning despite the Greek people rejecting proposals by the creditors...

The Australian Prime Minister and the Leader of the Opposition have said that they are committed to holding a referendum on recognizing the First Australians in the country's constitution. In a joint statement after meeting indigenous leaders Monday, Prime Minister Tony Abbott and Opposition Leader...

On the eve of a historic referendum on the next debt deal with creditors, the Greek electorate is absolutely divided, according to reports. Agony for the next day is prevailing clashing with hope, as Greek and foreign officials and analysts warn that regardless of Sunday night's outcome, the Greek...

Tunisian President Beji Caid Essebsi has declared a state of emergency on Saturday, following last week's attack on a Sousse hotel which killed 38 foreign tourists. The state of emergency gives security forces more powers and limits the right of public assembly. The state of emergency will be in...

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.

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