European Union Business News from EUbusiness.com
- Greek PM announces capital controls, banks closed after run on ATMs — 29 June 2015, 01:22 CET
Greek banks will stay shut on Monday and capital controls will be
imposed, Prime Minister Alexis Tsipras announced, pleading for calm
after anxious citizens emptied cash machines in a dramatic escalation of
the country's debt crisis.
- From 'Greferendum' to possible 'Grexit': failed talks stun Brussels — 28 June 2015, 22:37 CET
There is shell-shock in the eurozone as officials slowly wake up to the
idea that a meeting of ministers on a balmy Saturday night in Brussels
may have been the tragic moment when the euro, and a certain idea of
Europe, fell into tatters.
- Greece sets sail for choppy, uncharted waters — 28 June 2015, 23:56 CET
By snubbing a bailout deal and slapping capital controls on its banks
Greece has set a course into choppy, uncharted waters that could lead to fresh economic upheaval and a euro exit.
- Tsipras announces capital controls, banks closed after run on ATMs — 28 June 2015, 23:18 CET
Greek banks and the Athens stock market will be closed on Monday and
capital controls will be imposed, Prime Minister Alexis Tsipras
announced, pleading for calm after anxious citizens emptied ATMs in a
dramatic escalation of the country's debt crisis.
- Tourists urged to take cash if visiting stricken Greece — 28 June 2015, 20:52 CET
Tourists heading for Greece were urged to take enough cash with them to
last their entire stay as Athens announced banks would be closed Monday
in a deepening financial crisis.
- All sides showing 'political will' for Iran deal: EU — 28 June 2015, 20:22 CET
EU foreign policy chief Federica Mogherini said Sunday all sides had
shown the political will needed to strike a nuclear deal with Iran,
praising the "good results" despite a day of tough talks.
- Germany, France to hold crisis meetings over Greece on Monday — 28 June 2015, 20:17 CET
The leaders of France and Germany will hold crisis meetings with their
respective ministers and party leaders on Monday over the crisis in
Greece, their offices said.
- Obama, Merkel say 'critically important' for Greece to resume reforms — 28 June 2015, 21:11 CET
US President Barack Obama and German Chancellor Angela Merkel on Sunday agreed that Greece needed to find its way back to a path of reform without exiting the eurozone, the White House said.
- Greece faces banking collapse as ATMs run dry — 28 June 2015, 18:57 CET
Greece weighed drastic banking restrictions to stave off a financial
collapse on Sunday as anxious Greeks emptied cash machines amid fears
that banks will be closed this week.
- Desperate Greeks in frantic search for cash machines — 28 June 2015, 18:37 CET
Greeks raced Sunday to find cash machines in an increasingly anxious run
on the banks, as speculation mounted of capital controls and a possible
bank holiday being declared.
- IMF 'ready to provide assistance' in Greek crisis: Lagarde — 28 June 2015, 18:12 CET
The International Monetary Fund is carefully monitoring the unfolding
financial crisis in Greece and neighboring countries, and is ready to
provide assistance "as needed," Managing Director Christine Lagarde said
- EU releases reform demands on which Greece will vote — 28 June 2015, 17:47 CET
The EU made public on Sunday reform proposals that were rejected by the
far-left government in Athens in bailout talks but which will be put to
Greek voters for approval next week in a referendum.
- Europe urges tourists to carry cash if visiting Greece — 28 June 2015, 17:02 CET
European nations urged Sunday their nationals to carry cash with them
when vacationing in Greece as the country hurtles towards a banking
- On beaches and in cafes, gloomy Greeks watch the crisis spiral — 28 June 2015, 16:47 CET
Greeks took to beaches, cafes and churches on Sunday, just like they do
every week -- but the mood was downbeat as the country teetered on the
brink of a default that could see it crash out of the euro.
- Greece holding crisis meet as bank run looms — 28 June 2015, 16:37 CET
The ECB declined to grant extra cash to help Greece's stricken banking
system on Sunday as the government weighed up drastic new measures to
contain a growing financial crisis.
- Greece working with ECB on response to banking crisis: FM — 28 June 2015, 15:22 CET
Greece will work with the European Central Bank on formulating a
response to the cash crisis facing its banks before they are due to open
on Monday, Finance Minister Yanis Varoufakis said Sunday.
- ECB puts no fresh cash into Greek banks — 28 June 2015, 15:17 CET
The ECB said Sunday it would keep open its emergency cash lifeline to
debt-hit Greece but not increase help to banks, leaving the country
facing as financial crunch as a bank run gathered pace.
- ELA, the ECB's financial lifeline for Greek banks — 28 June 2015, 15:17 CET
The ECB's Emergency Liquidity Assistance programme, which was originally
intended as a lifeline for solvent lenders that get into a cash jam, has
become a tool keep the entire Greek economy alive while bailout
- Greece calls emergency financial council meeting — 28 June 2015, 14:32 CET
The Greek government said Sunday it had called an emergency gathering of
its systemic stability council, as speculation mounted of capital
controls being imposed and increasing signs of a bank run.
- Varoufakis says 'Merkel holds key' to Greek crisis — 28 June 2015, 13:57 CET
Greek Finance Minister Yanis Varoufakis said Sunday that German
Chancellor Angela Merkel "holds the key" to resolving his country's
crisis, while stressing Athens remains open to further talks with
- 'Real risk' of Grexit if Greeks vote 'no' in referendum: French PM — 28 June 2015, 13:51 CET
There is a "real risk" of Greece leaving the eurozone if the Greek
people vote against the EU's bailout proposals in a referendum, French
Prime Minister Manuel Valls said on Sunday.
- ECB set for emergency talks as 'Grexit' looms — 28 June 2015, 13:25 CET
The European Central Bank was set to hold emergency talks Sunday on
whether to keep or cut its financial lifeline to Athens, as France warned of a "real risk" Greece will leave the euro.
- 'Grexit' to 'Greferendum': Athens on the brink of default — 28 June 2015, 06:37 CET
It is past midnight on Saturday when the phone rings on the 13th floor
of the European Commission, bringing news the EU is facing an
unprecedented crisis after last-ditch talks with Greece collapsed.
- Key dates in the Greek debt crisis — 28 June 2015, 04:32 CET
Greece teetered on the brink of default Sunday after its international
creditors refused to extend its bailout past June 30, the same day a key
debt payment to the IMF is due.
- Greek parliament approves referendum on bailout terms: assembly — 28 June 2015, 03:12 CET
The Greek parliament approved a referendum on the latest offer of a debt
deal by the country's EU-IMF creditors by a majority vote late Saturday
night, according to the assembly's count.