Greece's Defense Minister Panos Kammenos
has said his country's exit from the eurozone could be followed by Italy, Spain
and even Germany.
Kammenos' interview comes amid lack of progress in Greece's bailout plan.
Panos Kammenos, Greece's defense
minister, spoke to German newspaper "Bild" on Saturday, saying his
country's leaving the euro could precede an exit by Italy
and Spain, followed by Germany in the
"If Greece explodes, Spain
and Italy will be next and
then at some point, Germany.
We therefore need to find a way within the eurozone, but this way cannot be
that the Greeks keep on having to pay," Kammenos told Bild.
Chrysoloras and Marcus Bensasson Jan 26,
2015 9:42 AM GMT+0200
Minister-elect Alexis Tsipras set up a confrontation with his European peers as
he prepared to form a coalition dedicated to ending austerity, saying the era
of bowing to international demands for budget cuts is over.
issued the challenge to Greece’s euro-area partners after his Syriza party won
a historic victory in Sunday’s elections by harnessing a public backlash
against years of belt-tightening, job losses and hardship. Tsipras, who is two
seats shy of an absolute majority in Greece’s 300-seat chamber according to the
latest results from the Interior Ministry, said his priority “will be for Greece
and its people to regain their lost dignity.”
Gentle and Yuko Takeo Jan 26, 2015 8:53
U.S. equity-index futures slid and
Treasuries rallied as the euro fluctuated near a more-than 11-year low after
Greek voters handed victory to a party that’s pledged to renegotiate the terms
of an international bailout. Asian stocks dropped with crude oil and industrial
& Poor’s 500 Index futures sank 0.6 percent by 3:51 p.m. in Tokyo and the yield on
30-year Treasuries fell to a record. The 19-nation euro dropped to as low as
$1.1098, the lowest since September 2003, before gaining 0.1 percent. The MSCI
Asia Pacific Index (MXAP) lost 0.3 percent. U.S.
crude declined 1.6 percent and nickel slid 2.2 percent in London. China’s yuan headed for its biggest
two-day drop since 2008 versus the dollar.
Greeks voted on Sunday in an election expected to bring to power the radical
leftist Syriza party, which has pledged to take on international lenders and
roll back painful austerity measures imposed during years of economic crisis.
huge upset, Syriza, which has led opinion polls for months, will be the biggest
party and aims to form the first euro zone government openly committed to
cancelling the austerity terms of its EU and IMF-backed bailout program.
After the surprises from central banks which rocked markets at the start of the
year, the U.S. Federal Reserve will be watched as closely as ever this week to
see that it doesn't stray from its own policy path.
atmosphere will already be tense as the fallout from Sunday's snap election in Greece settles
and concern has grown in some quarters that central banks, which played such a
big part in guiding economies through the financial crisis, are becoming less
(AFP) - Greece
votes Sunday in a snap general election that could bring the radical left
Syriza party to power and pose the most severe challenge yet to austerity
policies in struggling eurozone countries.
Syriza and their 40-year-old leader Alexis Tsipras would represent a leap into
the unknown, but many Greeks appear prepared to take a chance after years of
Greece’s elections on Sunday take place
against the background of rising tensions between the small nation and its main
creditors, eurozone governments and the IMF, about the country’s strict bailout
regimen. Polls point to a win for leftwing opposition party Syriza over the
ruling conservatives of New Democracy. Would a Syriza-led government start a
game of chicken with Germany
and other creditors that could lead to havoc and a Greek exit from the euro? Or
can a compromise be found? Here’s our crystal ball.
Q: Who will
lead the next Greek government?
Syriza (whose leader, Alexis Tsipras is pictured above), the leftwing
opposition party, unless the conservative incumbent, Premier Antonis Samaras,
pulls off the biggest upset victory since Harry Truman in 1948. Syriza might
win an absolute majority in Parliament, but polls suggest it will fall just
short, requiring support from another party. A pact with centrist To Potami
(The River) or center-left Pasok could make the government more pragmatic in
talks with Greece’s
international creditors. A pact with the nationalist Independent Greeks could
make it more hardline.
Chrysoloras and Paul Tugwell Jan 20,
2015 1:48 PM GMT+0200
widened its lead over Prime Minister Antonis Samaras’s New Democracy in three
opinion surveys just days before the general election, prompting one pollster
to say the race was all but decided.
acronym for Coalition of the Radical Left, led by between 4 percentage points
and 6.5 percentage points in separate surveys conducted by GPO, Alco and the University of Macedonia
based in Thessaloniki.
That’s up from about 3 points last week.
uncertainty weighed on bailout review talks
Samaras had little room for more austerity
talks, uncertainty prompted PM to call forward vote
Maltezou, Lefteris Papadimas and Deepa Babington
Jan 21 (Reuters) - After four years of economic sacrifices, Greece bet it
could agree an early end to its international bailout. Instead a stand off with
creditors in a Paris
townhouse led to new political uncertainty and another euro zone storm.
(Reuters) - Greece's Alpha Bank and Eurobank were the two lenders that applied
for emergency liquidity assistance (ELA) from the Greek central bank, a banking
source told Reuters on Friday.
investor relations executive confirmed it had applied for the emergency
funding. Alpha Bank declined to comment.
deposit outflows since Greece
called snap elections slated for Jan. 25, coupled with government T-bill issues
have squeezed banks' liquidity levels. (Reporting by George Georgiopoulos,
editing by Deepa Babington)
* Germany says Greece must stick to bailout
party ahead in polls, wants end to austerity
needs growth to repay debts
13 (Reuters) - German taxpayers should not be afraid of a Greek government led
by the left-wing Syriza party, its leader Alexis Tsipras wrote in an article
published on Tuesday in a German business daily.
is growing that if anti-bailout Syriza wins Greece's
Jan. 25 parliamentary election, it will try to renegotiate European Union loans
and conditions, possibly provoking a crisis between Athens and its euro zone partners.
- A Greek exit from the eurozone would certainly come at a cost to Europe, but just how expensive would it be?
The amount Athens owes its partners is equivalent to just a tiny
fraction of the eurozone's economy, but some analysts are still worried that a
'Grexit' could ultimately cost Europe its