Greece Exits Its Bailout but Remains Shackled by Debt and Austerity

Former Greek MP Costas Lapavitsas says Greece has been reduced to a ‘weak and marginal Balkan economy’

Tsipras Tells Lenders Not to Humiliate Greece over Debt

BBC AMERICA: Greece's prime minister has warned international creditors not to impose humiliating terms on his country as it seeks urgently needed bailout funds.

Alexis Tsipras said negotiations were at a "critical" stage, but that the lenders' proposals were "not realistic".

He was briefing parliament amid growing opposition in his leftist Syriza party to the creditors' proposals.

Earlier Greece delayed Friday's €300m (£216m) debt repayment to the IMF.

Mr Tsipras described the EU-IMF lenders' plan as a "bad moment for Europe" and a "bad negotiating trick".

He accused Greece's lenders of massively backtracking on measures agreed in recent months, and of failing to see the need for an end to austerity in their latest offer.

A call for debt relief was a key part of the Greek plan. » | Friday, June 05, 2015

Alexis Tsipras: Frontline of a Financial War
The leader of the Greek opposition on how his country has become a "debt colony" forced to follow "criminal" policies.

Eurozone Crisis: Banks Agree 50% Reduction on Greece's Debt
THE GUARDIAN: Private investors take 'haircut' on Greek bonds in €100bn bailout that also strengthens European rescue fund

Europe's leaders are claiming a victory in the eurozone crisis after agreeing new deals that slash Greek debt and increase the firepower of the main bailout fund to around €1 trillion (£872bn).

Athens will be handed a new €100bn bailout early in the new year. The accord was reached in the early hours of Thursday after hours of debate.

At one stage talks broke down with holders of Greek debt but they ended up accepting a loss or "haircut" of 50% in converting their existing bonds into new loans.

Investors are likely to welcome the breakthrough. Sharp gains are predicted for European markets on opening, with the FTSE 100 being called up 75 points and similar rises expected on the German and French stock markets.

Angela Merkel, the German chancellor, helped broker the deal in talks with the bankers that also included the French president, Nicolas Sarkozy, and the head of the IMF, Christine Lagarde.

Merkel said the swap would take place in January. Sarkozy said private sector investors would refinance Greek's remaining debt at preferential rates while governments would find €30bn to go alongside €100bn from the private sectors. » | David Gow in Brussels | Thursday, October 27, 2011

Video: Eurozone and investors agree to halve Greek debt: Breakthrough in crisis talks as banks accept 50% cut to Greek bonds that will be converted into loans and euro rescue fund is strengthened »

Eurozone bailout deal for Greece – full text: Read the full euro summit statement on the agreement to halve Greece's bond debt to banks, provide bailout funds and bolster the EU's emergency finance system » | guardian.co.uk | Thursday, October 27, 2011