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With No Credit Cards Allowed, No Cash In ATMs, No Banks Open, Tourists In Trouble In Greece
Banks all across Greece are closed today, and will remain closed for the rest of the week. Not because it’s a holiday, but because the Greek government is trying to stop the banking system from collapsing as money flows out of the country while its long-running debt crisis reaches a critical point. As a result, tourists in Greece are finding themselves unable to pay for basics like food and shelter.
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Someone Is Trying to Crowdfund a Greek Bailout, and Donations Are Surging
A new campaign has been set up on Indiegogo, an online funding website with a mission of "empowering everyone to change the world." With a goal of raising 1.6 billion euros, the "Greek Bailout Fund" aims to do what the Hellenic Republic's creditors apparently cannot. And, unlike Greece's actual bailout package there are no (austerity) strings attached. Only 1,599,917,718 euros to go.
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Greece will default
Greece will default. According to a report from The Wall Street Journal on Monday afternoon, Greece will not pay the €1.55 billion (about $1.73 billion) due to the International Monetary Fund on Tuesday. The Wall Street Journal is citing a Greek government official. This is, however, an expected move given the turn things took over the weekend.
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Greece’s Referendum: The Price of Five Years of Cowardice
Much of Europe is outraged by Alexis Tsipras’ decision to hold a referendum on reforms in Greece. But how did the euro zone allow an economically irrelevant country of 11 million to bring the common currency to the brink? Through cowardice.
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Stanford scholar debunks long-held beliefs about economic growth in ancient Greece
Using a pioneering digitization project that maps out details of life in the ancient world, classics Professor Josiah Ober links the democratic politics and surprisingly robust economy of classical Greek society.
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Greek referendum: Germany says it won’t leave Greece in the lurch
German finance minister, Wolfgang Schäuble, appears to bolster No vote in last-minute intervention on Saturday.
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Greek Referendum: the vote is today
Greece is now voting to accept or reject the bailout terms proposed by its creditors. Alexis Tsipras supports the "NO", and hopes that a clear rejection would allow him to come back to the negotiation table. However, many fear that he might find the door closed, and that such a vote would cause Greece to be excluded from the Eurozone.
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Greek voters resent EU pressure
Faced with a choice many tell them is for or against Europe, some Greeks might vote No in reaction to outside pressure.
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The possible outcomes of a Yes and No vote in the Greek referendum
Planet Money's Episode 636 discusses the referendum in Greece, including interviews with economists and locals in Greece.
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Greece debt crisis: Greek voters reject bailout offer
With two-thirds of the votes counted in the bailout referendum, Greeks have overwhelmingly rejected the terms offered by international creditors.
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Why are the Greeks celebrating, ask baffled Germans
German newspapers and MP condemn Greek public’s jubilant reaction to referendum result that leaves “no more basis for cooperation with Greece in the eurozone”
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Greek Finance Minister Varoufakis says he is resigning | Breaking News | DW.COM | 06.07.2015
Greek Finance Minister Yanis Varoufakis has announced his resignation. The shock move comes a day after Greeks voted to reject the conditions of a bailout package proposed by the country's international creditors.
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Emergency euro summit called on Greek No
Euro leaders will gather Tuesday in Brussels for an emergency summit on next steps after Greeks plunged their country and the wider eurozone into uncertainty by voting No.
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UN debt expert says Greece can't take more austerity
Greece cannot take any more austerity, as it will cause more social unrest and lessen the chance of recovery, a United Nations debt expert said on Monday (6 July).
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Planning a holiday in Greece? Here's what you need to know
What do tourists need to know about taking a holiday in Greece at the moment?
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Tsipras gets cross-party backing before euro summit
The Greek PM will present a new proposal for a deal Tuesday with the backing of Greece's five main parties, amid concerns over the situation of Greek banks.
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Greece debt crisis: PM Tsipras to present new plan at eurozone summit - BBC News
Greek Prime Minister Alexis Tsipras is to present new proposals at a eurozone emergency summit on his country's growing debt crisis.
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Germans Forget Postwar History Lesson on Debt Relief in Greece Crisis
The good news is that by now economists generally understand the contours of a successful approach. The bad news is that too many policy makers still take too long to heed their advice — insisting on repeating failed policies first. “I’ve seen this movie so many times before,” said Carmen M. Reinhart, a professor at the Kennedy School of Government at Harvard who is perhaps the world’s foremost expert on sovereign debt crises.
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European Parliament & Tsipras
The Greek Prime Minister, Alexis Tsipras, was received in the European Parliament with a mixture of vitriolic criticism, calls for reforms, as well as wholehearted endorsement and support. None of the interventions of the parties that participated in the discussion could be described as “dispassionate.”
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An Interesting Solution Idea for the Greek Debt Crisis: Join Turkey
As a Turkish guy, I almost found the article funny but then I realized it was written by a professor from University of Chicago. What do you think?
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