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.
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 Almost a billion dollars worth of deposits was withdrawn on Monday alone.
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.
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.
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.
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.
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.
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?
The deadline for Greece's bailout is tomorrow. But if bondholders still hold out, more delays are on the horizon and the possibility of a Greek default remains.

More from Greek Debt Crisis

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Fears of bank runs on the rise in Greece

Wednesday, 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 Almost a billion dollars worth of deposits was withdrawn on Monday alone.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

Wednesday, 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

Thursday, 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

Wednesday, 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

Wednesday, 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

Thursday, April 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?

Friday, March 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

Thursday, March 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

Thursday, March 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
0

Big economic worries remain surrounding Greece

Wednesday, March 7, 2012
There is a possibility that Greece's private creditors won't accept big losses on their investments by a deadline tomorrow night.
Posted In: Greece, Europe

Most Commented

10

Greece adopts drastic austerity measures

Monday, February 13, 2012
Overnight, the Greek parliament imposed drastic cuts that will layoff some 150,000 government workers, raise the retirement age and lower the minimum wage by 20 percent. What would the same cutbacks feel like here in the U.S.?
Posted In: Greece, austerity, budget cuts
5

Greece puts debt deal up for referendum

Tuesday, November 1, 2011
The fate of the euro hangs in the balance as Greece's prime minister asks his people to vote on the deal to solve the European debt crisis.

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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