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Greek GDP Will Collapse By 20% In Case Of Grexit, S&P Predicts

According to the recent forecast made by Standard & Poor's, Greece may see its GDP decline by 20% over the next 4 years if it quits the Eurozone.

Overcoming Default, Worldwide Cases

Ukrainian lenders and professional advisors dealing debt restructuring are going to meet in New York this week. The meeting is designed to discuss some technical issues related to the structure of the Ukrainian debt and clarifying those ambiguous points that seem unclear to the holders of Ukrainian bonds, Market Leader reports.

Greek Crisis Has Political Rather Than Financial Roots

Greek Referendum - Bad Idea but Still the Lesser of Two Evils

Greece has been in the headlines for quite a while. The Greek economy is on the verge of falling into the abyss of recession after defaulting on its debt. However, it is still unclear whether Greece are going to quit the Eurozone.  There are almost zero chances to save the day. However, the existing Greek government is currently trying to avoid responsibility for the disaster Greece has found itself in. As you probably know, the local authorities are going to hold a nationwide referendum to let the Greek people decided the fate of their homeland as well as their own destinies.

Greek Crisis Causes 50 Billion Euro Damage to European Banks

After the Greek government announced a nationwide referendum on the fate of Greece as a Eurozone member on June 28th, European banks lost 50 billion EUR or market capital, European media report.

Credit Suisse Rates Grexit Odds as 1/3

According to the analysts working for Credit Suisse, the odds of Greece quitting the Eurozone is 1/3. They assume that in case the so-called Grexit does happen, the Eurozone is unlikely to suffer a lot for it. This opinion is included in the latest overview for investors.

Brussels Gets Ready For Grexit After Referendum

According to some international web sources, Greece may well quit the Eurozone in the near future after holding a nationwide referendum on whether the government should compromise with the troika of lenders. The referendum is scheduled for July, 5th.

Greece Will Hold Referendum on Lenders’ Conditions on July 5th

The never-ending talks between Greece and its lenders are still underway. While Greece want its debt to be restructured to avoid a default and Grexit, the lenders want Greece to make concessions in terms of introducing more austerity along with multiple structural reforms.  Despite the fact that the parties have become closer to compromising, there are still some unresolved issues on the agenda.

Greece Wanna Stay in Eurozone

The never-ending Greek talks are still underway. Greece still cannot compromise with the troika of lenders over the debt and expected reforms needed to avoid a default. While there is no solution seen as the talks are nearing the deadline, the expert community is getting increasingly convinced that Greece doesn’t want to quit the Eurozone. Yanis Varoufakis, Greek Minister of Finance, says that Greece wants to compromise and stay in the Eurozone while avoiding a default but the conditions put forward by the lenders are weird and tough.

Merkel Sets Deadline in Greek Talks

Angela Merkel has set the deadline for reaching an agreement in the never-ending talks between Greece and its international lenders. In particular, the German Chancellor defined tomorrow’s Euro Group meeting as the dicisive event in the drama around Greece, Market Leader reports.

The difficult talks between Athens and the troika of lender has been underway for quite a long time. So, Germany seems to be determined to put an end to this long-lasting game on Saturday.