Greece’s Finance Minister Yanis Varoufakis has pledged to resign if Greeks voted ‘Yes’ in Sunday’s referendum on the country’s bailout. He also said he would “prefer to cut my arm off” rather than sign the current deal with Greece’s creditors.
A possible ‘Grexit’ will cause ‘severe’ consequences to the Greek economic system, warns the Standard and Poor’s (S&P) rating agency. It has increased the chances of Greece exiting the eurozone to 50 percent.
The eurozone project is a complete fiasco so Greece should be allowed to go back to the drachma, to devalue and to rebuild itself, columnist and podcaster Jon Gaunt told RT. This might be the beginning of the end of the whole EU he adds.
The latest polls and betting suggest Greece will back the cash-for-reform deal proposed by creditors in the July 5 referendum. They point to a mood shift since Athens closed banks and limited cash withdrawals.
WikiLeaks has published secret “core text” related to the controversial trade agreement currently being negotiated behind closed doors between the US, EU and 23 other countries. Big corporations look to be the biggest winners in the deal.
Europol has launched a cyber-unit consisting of some 15 experts aimed at combatting terrorist propaganda and related violent extremist activities. Officials cited the increasing online terror campaigns “challenging” EU security.
The Greek authorities have told European negotiators they are ready to suspend the referendum over confidence in the IMF and the EU, if the talks on financial aid to Greece resume, says the Maltese Prime Minister Joseph Muscat.
Even if Greece accepted all of the austerity measures demanded by its main creditors, the Troika, it still would not be able to make ends meet by 2030, according to IMF estimates revealed in a set of documents obtained by a German newspaper.
The International Monetary Fund has confirmed that it didn't receive the €1.6 billion payment from Athens that was due by the end of June 30, Brussels time, making Greece the first developed country to default on its international obligations.