The financial situation in Greece has reached a new low, as Greek taxpayers are being told to report all privately stashed cash in excess of 15,000 euros ($15,848.25), as well as all jewelry and precious […]
Tag: Greece
More Than 2 Million Greeks Unable To Pay Pricey Bills Could Soon Be Without Electricity
According to recent reports, the amount of unpaid bills by customers of the Greek Public Power Company has reached a staggering $2.7 billion. The company is so fed-up that is has threatened to cut the […]
These Archaeologists Found 22 Different Shipwrecks In Area Around Greece
At a Greek archipelago, archaeologists have discovered 22 different shipwrecks, leading some to call it the “shipwreck capital of the world”. The discovery was made by a joint archaeological expedition featuring both American and Greek […]
Greek Snap Elections Hand Clear Mandate To Far Left Syriza Party
After a snap general election held in Greece over the weekend, left-wing Syriza party leader Alexis Tsipras reigned victorious as he was given a second chance to try and deal with the country’s astonishing debt. […]
Greece’s ‘Island Of The Blind’ Highlights Public’s Responsibility For Financial Crisis
The Ionian Sea island of Zakynthos, famous for its gorgeous beaches and sparkling waters, is also home to an unabashed and shameless scam which occurred over several years, eventually costing the Greek government several millions […]
Greece Capitulates to Creditors’ Demands in Order to Remain in the Eurozone
Greek Prime Minister Alexis Tsipras agreed to European demands in order to immediately qualify for up to $95 billion of aid Greece needs to remain in the Euro Zone. These agreements were reached at a […]
Panicked Greeks Go On Shopping Sprees Ahead Of Bank Restructurings
Fear of the financial unknown has sent many Greeks into a spending frenzy, using debit cards to buy anything they believe will hold its cash value, and even paying their taxes in advance before their […]
Greece Begins To Feel Effects Of Rejecting Austerity Measures
After failing to meet another deadline to pay back its creditors, Greece is now feeling pressure from its European lenders to implement austerity measures such as pensions cuts and tax hikes. Greek Prime Minister Alexis […]
‘No’ Vote To Austerity Pushes Greece Closer To Euro Exit
After voting ‘no’ to more austerity measures issued by its creditors, Greece is now at the mercy of the European Union. Greece failed yet again to meet another deadline for paying back some of their […]
Greece Exit Polls Show ‘No’ Vote On European Exit
Polls have just closed in Greece after the country voted today on whether to remain a member of the European Union or whether to leave the economic zone. At the close of polls, 7pm local […]
Greek Banks Prepare To Confiscate Customer Deposits
In the face of insolvency, Greek banks are now preparing plans for a so-called “bail-in” of depositors, which would see a certain percentage of customer deposits taken by banks in order to stay in business. […]
Bitcoin Interest Skyrockets In Wake of Greek Financial Crisis
As the Greek financial crisis continues bringing down the value of stock prices and the euro world wide, use and interest in digital currency bitcoin has skyrocketed. Bitcoin companies internationally are reporting huge spikes in […]
Greece Confirms It Will Default On IMF Loan
The Greek Government has told the International Monetary Fund (IMF) it will not be making any loan repayments by imposed repayment deadlines. The news was confirmed in a statement released from the office of Greek […]
Greek Contagion Spreads As Italian Banks Fail To Start Trading On Monday
Just a few hundred miles west of Greece lies Italy, where banks have aggressively courted Greek business over the years. This may now make them among the first to feel any effects of a Greek […]
Greek Banks Near Collapse As 700 Million Euros Leaves Country In One Day
The Greek government may have felt good going into the weekend about stiffing the IMF of a debt payment this week yet the country continued to edge closer to a financial catastrophe. The latest indication […]
Greece Doesn’t Have Enough Money To Make June IMF Loan Repayment, Faces Default
Greece’s interior minister said on Sunday that the struggling European country cannot make debt repayments to the International Monetary Fund (IMF) next month unless it achieves a deal with creditors. The comments are the more […]
Russia, China Offer Greece Membership In BRICS Infrastructure Bank
In a largely symbolic and propaganda driven move, the new BRICS bank has extended an invitation to Greece, according to unofficial government sources. Just what the insolvent country would bring to the bank remains unclear. […]
Greece To Join Australia In Taxing Cash As Soon As Next Week
In what looks to become a trend, reports emerged today that Greece is finalizing capital controls that will take the form of a tax on withdrawals. The country is also considering a ‘ceiling’ on the […]
Greece Edges Closer To Chaos As Finance Minister Attacked
Greece is teetering on the edge and things have begun to turn violent according to a new report this morning. A group of anarchists attacked Greek Finance Minister Yanis Varoufakis and his wife Danae at […]
Greece Teeters Closer To Bankruptcy, Announces More Capital Controls
The latest developments in Greece do not appear to be positive. Last week, the Greek government seized “excess cash” from municipal government to replenish the central bank coffers so that Athens would be able to […]
Greece Announces Capital Controls, Moves Closer To Bankruptcy
Greek citizens awoke this morning to their country being one step closer to bankruptcy. Yesterday, following weeks of intense speculation, Greece finally launched its first round of capital controls, when it declared that due to […]
Greece To Receive $5 Billion Bailout From Russia
Der Spiegel is reporting that Greece is poised to sign a gas deal with Russia as early as Tuesday that could put up to €5 billion into the depleted Greek coffers, according to a senior […]