Europe

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Stay tuned for analysis on Greece where citizens voted “no” in Sunday’s referendum, opting to turn down a proposal from international creditors that would have included more austerity reforms. Meanwhile, Greek Finance Minister Yanis Varoufakis has stepped down from his post and European officials are awaiting new proposals from the debt-stricken country. For the latest …

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Greece’s decision to reject the terms of its creditors sent shockwaves across global markets on Sunday, even as experts said the fallout should be limited. Markets fell sharply in the wake of Sunday’s referendum that saw an overwhelming majority of the public vote down the country’s deal with its creditors. Although many have warned of …

Greek debt crisis

Still no deal in Greece after another round of negotiations failed and for the country’s pensioners, the situation is getting worse.

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People hold a demonstration calling for a 'NO' at referendum and for Greece's exit from the eurozone on June 29, 2015 in Athens, Greece.

Greece is widely expected to miss its 1.6 billion euro ($1.8 billion) payment due to the International Monetary Fund on Tuesday, but one British man is hoping a bit of pocket change can help pull Greeks out of their misery once and for all. Young Londoner Thom Feeney has launched a crowdfunding campaign to raise …

Greek crisis worsens

U.S. stocks had their worst day of the year as positions hardened in the long simmering Greek debt crisis.

Ayhan Mehmet | Anadolu Agency | Getty Images
People in front of the Greek Parliament hold a demonstration on June 28, 2015, calling for a 'NO' referendum and for Greece's exit from the euro zone.

With Greece nearly certain to default on a 1.6-billion-euro bond payment due June 30, the long-feared prospect of Hellenic financial chaos is just about here. The nation’s banks closed this weekend, and the government imposed controls of the movement of capital in and out of the country. A Greek referendum is set for Sunday, in …

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The deteriorating situation in Greece—including long lines and a 60 euro ($67) limit at ATMs—could get much worse if voters there refuse to accept creditor-imposed reforms in a referendum this coming Sunday, said billionaire Wilbur Ross, who has a large interest in the country. “Once there’s social unrest, which there will be before too long …

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Despite a tweet from Greek Finance Minister Yanis Varoufakis that his government “opposed the very concept” of any controls, Greek Prime Minister Alexis Tsipras said later Sunday that he had forced the country’s central bank to recommend a bank holiday and capital controls. Asked, as he left a meeting of the Financial Stability Council, whether …

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Alexis Tsipras, Greece's prime minister

International creditors on Wednesday rejected the Greek government’s plan to end its financial crisis, but they have submitted counterproposals. News of the rejection, announced by Greek Prime Minister Alexis Tsipras, dashed hopes of an imminent deal between the embattled Mediterranean country and its creditors. Greece needs additional financial aid to prevent it from defaulting on …

Greeks protest pension cuts

Details of the possible agreement between Greece and its creditors are leaking out and many in Greece are unhappy.

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A United Airlines plane sits on the tarmac.

An argument on a transatlantic United Airlines flight over a bag of nuts could run up a bill of £350,000 ($553,000) for the airline, according to a report on U.K. news site The Telegraph. A United Airlines Rome-Chicago flight on Saturday had to be diverted to Belfast, Northern Ireland, because an unruly passenger repeatedly demanded …

Greece close to a deal

A deal in Greece appears closer than ever and stocks rally around the globe.

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Tourists gather on viewing positions to watch the sun set in Oia village on the island of Santorini, Greece, in May 2015.

International press reports and scenarios talking about capital restrictions in Greece have caused concern for tourists who plan to visit the Greek islands in the coming weeks. Some of them have already called their tour operators and hotels asking about the situation and especially whether to carry extra cash with them, in case Greek banks …

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The Greek government’s new proposals to resolve its debt dilemma represent a “welcome step”, according to the President of the Eurogroup, Jeroen Dijsselbloem – but are not enough to secure an agreement today . Dijsselbloem, who was speaking after a meeting of the euro zone’s finance ministers to discuss the new proposals, held out the …

Milos Bicanski | Getty Images

Euro zone leaders will hold an emergency summit on Monday after a the region’s finance ministers failed to agree a reform-and-aid deal with Greece, making it more likely the near-bankrupt country will default on its debt at the at the end of the month. European political leaders and economists are now preparing for financial turmoil …