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
Greece missed early on Wednesday local time its deadline to pay a EUR 1.6 B loan installment to the International Monetary Fund (IMF).
This has been the first case of an advanced economy failing to repay to the IMF.
Earlier the Eurogroup refused to comply with a new Greek request of a two-year bailout and added Athens would submit a new proposal Wednesday that would be considered the same day.
“I confirm that the SDR 1.2 billion repayment (about EUR 1.5 billion) due by Greece to the IMF today has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared," IMF Director of Communications, says in a statement.
Rice also confirmed that the fund had received a request from Greek authorities "for an extension of Greece’s repayment obligation that fell due [Tuesday], which will go to the IMF’s Executive Board in due course.”
Meanwhile Fitch downgraded the country's long-term foreign and local currency Issuer Default Ratings (IDR) to CC, from CCC. This is just one level above a full default.
This comes days before the referendum on the bailout package with international lenders proposed to Greece last week, but which Prime Minister Alexis Tsipras rejected, calling a national poll instead.
Late on Monday Tsipras said he would step down if Greeks vote "yes" and thus accept the bailout package. He urged a resounding "no" vote - just hours after EU Commission President Jean-Claude Juncker called for a massive "yes".
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Romanian parliament has voted to impose stringent restrictions on the gambling sector, marking a significant shift in the country's regulatory landscape
In a recent gathering organized by the European Liberal Forum, ALDE, and the Atlantic Club of Bulgaria, outgoing Deputy Premier and Minister of Foreign Affairs, Mariya Gabriel, underscored Sofia's commitment to the European Union membership of Western Bal
The brutal murder of a two-year-old child, Danka Ilic, has sent shockwaves across Serbia, prompting President Aleksandar Vucic to advocate for the reintroduction of the death penalty for the most heinous crimes
In a startling revelation, Serbian President Aleksandar Vucic announced today that authorities have apprehended two individuals suspected of the heinous murder of two-year-old Danka Ilic from the town of Bor in Eastern Serbia
In a devastating incident in southern Albania, eight people lost their lives, including seven suspected migrants, in a car crash early this morning while attempting to evade police pursuit
As Easter approaches, Greeks are facing the highest lamb prices in recent years, prompting many to seek alternatives across the border in Bulgaria
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022