Nationwide Strike Grips Greece: 24 Hours of Transport Paralysis
A nationwide strike in Greece has brought the country's transport networks to a standstill, affecting railways, ferries, buses, taxis, and more
A Greek government official has confirmed Greece will be unable to make a EUR 1.6 B debt payment due to the International Monetary Fund (IMF) on Tuesday, Reuters reported on Monday.
The IMF has said that Greece will immediately be in arrears if it fails to make the debt repayment.
Eurozone finance ministers on Saturday rejected Greece’s request for an extension to Greece’s bailout programme which is due to expire on Tuesday.
Despite the shock of a default by a eurozone country, Greece's fate is likely to remain unchanged until after a snap referendum on 5 July 5 on bailout terms presented by creditors last week.
The government will ask Greeks to approve or reject the terms set by the country's creditors in exchange for extending the existing bailout program so that it can continue to access EUR 7.2 B in rescue loans. Greece's Prime Minister Alexis Tspiras has urged his compatriots to vote against the proposed measures.
However, it's unclear whether a referendum will matter if Greece doesn't get an extension to the existing bailout programme on Tuesday. The programme expires on Tuesday, the same day the IMF debt payment is due.
In order for Greece to get an extension on its bailout, the European Central Bank has insisted the government in Athens agree to more austerity measures. The latest proposal calls for further tax hikes, alongside with spending cuts in the area of some EUR 8 B.
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The European Parliament has approved the EU's inaugural directive aimed at regulating the employment rights of individuals working through online platforms
As the Hungarian forint experiences volatility, German investors are increasingly advocating for Hungary to adopt the euro, reaching the highest level of support in over a decade
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
Concerns are mounting within the European Parliament regarding potential Russian interference in the forthcoming parliamentary elections, coupled with apprehensions surrounding Russian-owned properties in Bulgaria
A dire situation looms over European airspace as thousands of passenger planes, predominantly ferrying tourists, find themselves ensnared in a perilous web of Russian jamming attacks, leaving them disoriented and vulnerable mid-flight.
In a significant affirmation of Bulgaria's path towards Eurozone accession, European Commissioner for Economy Paolo Gentiloni has confirmed the European Commission's support for Bulgaria's admission to the Eurozone in 2025
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022