It appears Greece will be staying in the eurozone for at least a bit longer, as the pro-bailout, pro-austerity New Democracy party narrowly beat the anti-bailout Syriza party in yesterday's elections.
New elections are scheduled for June 17th in Greece, but that may not be soon enough to calm fears at Greek banks. Almost a billion dollars worth of deposits was withdrawn on Monday alone.
We check in with one Athens resident about whether Greeks are really withdrawing their cash from local banks in droves and what the mood is like on the streets.
As an exodus in the European Union becomes more a sure thing, two of London's largest bookmakers shut down the markets for bets on Greece leaving the E.U. and the existence of the euro in a few years.
Though Greece held elections over the weekend, a new government hasn't formed. Nick Malkoutzis with the Greek newspaper Kathimerini discusses the uncertainty surrounding the nation.
Once again investors are focusing on Greece as the nation tries to form a coalition government. It looks like more turmoil is on the horizon.
Greece is reportedly selling off islands to raise money. The small island of Oxia is being sold to the royal family Qatar and more are on the block.
In Greece, private investors have agreed to write off about 75 percent of their loans to the country.
With the risk of a Greek default hanging in the air, why would some bond holders of Greek debt vote against a reduction of the country's debt?
Private investors are being asked to accept big losses on their loans to Greece, in order for the country to get more bailout money and avoid a messy default that could send Europe back into crisis. About two-thirds of bondholders so far have agreed.

More from Greek Debt Crisis

Most Recent

0

Pro-bailout New Democracy party wins in Greece

Jun 18, 2012
It appears Greece will be staying in the eurozone for at least a bit longer, as the pro-bailout, pro-austerity New Democracy party narrowly beat the anti-bailout Syriza party in yesterday's elections.
Posted In: Greece, Europe debt crisis, elections
0

Fears of bank runs on the rise in Greece

May 16, 2012
New elections are scheduled for June 17th in Greece, but that may not be soon enough to calm fears at Greek banks. Almost a billion dollars worth of deposits was withdrawn on Monday alone.
Posted In: Greece, banking
2

A reality check on the Greek bank run

May 16, 2012
We check in with one Athens resident about whether Greeks are really withdrawing their cash from local banks in droves and what the mood is like on the streets.
Posted In: Greece, Greek debt
0

No more wagers on Greek exit

May 10, 2012
As an exodus in the European Union becomes more a sure thing, two of London's largest bookmakers shut down the markets for bets on Greece leaving the E.U. and the existence of the euro in a few years.
Posted In: Greece, bets, gambling, bookmaker, euro, Eurozone
0

No new government yet for Greece puts future in doubt

May 9, 2012
Though Greece held elections over the weekend, a new government hasn't formed. Nick Malkoutzis with the Greek newspaper Kathimerini discusses the uncertainty surrounding the nation.
Posted In: Greece, greek bailout
0

Markets worry as Greece struggles to form government

May 9, 2012
Once again investors are focusing on Greece as the nation tries to form a coalition government. It looks like more turmoil is on the horizon.
Posted In: Greece, greek bailout, Greek debt
0

Greece begins to sell islands to raise cash

Apr 26, 2012
Greece is reportedly selling off islands to raise money. The small island of Oxia is being sold to the royal family Qatar and more are on the block.
Posted In: Greece, Qatar
0

Did writing off debt in Greece count as a default?

Mar 9, 2012
In Greece, private investors have agreed to write off about 75 percent of their loans to the country.
Posted In: Greece, credit default swaps, Europe, default
0

Some Greek bond holders want to avoid major loss

Mar 8, 2012
With the risk of a Greek default hanging in the air, why would some bond holders of Greek debt vote against a reduction of the country's debt?
Posted In: Greece
0

Taking a loss on Greek bonds

Mar 8, 2012
Private investors are being asked to accept big losses on their loans to Greece, in order for the country to get more bailout money and avoid a messy default that could send Europe back into crisis. About two-thirds of bondholders so far have agreed.
Posted In: Europe debt crisis, Greece, bonds

Most Commented

0

Pro-bailout New Democracy party wins in Greece

Jun 18, 2012
It appears Greece will be staying in the eurozone for at least a bit longer, as the pro-bailout, pro-austerity New Democracy party narrowly beat the anti-bailout Syriza party in yesterday's elections.
Posted In: Greece, Europe debt crisis, elections
0

Fears of bank runs on the rise in Greece

May 16, 2012
New elections are scheduled for June 17th in Greece, but that may not be soon enough to calm fears at Greek banks. Almost a billion dollars worth of deposits was withdrawn on Monday alone.
Posted In: Greece, banking

All this week, we're helping you understand why Greece is such a threat to the Europe's economy and why you should care.

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