Correspondent, Brussels
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Jul 6, 2015

Greek finance minister quits after voters reject bailout terms

ATHENS/FRANKFURT (Reuters) – Greece’s outspoken finance minister resigned on Monday, removing a major obstacle to any last-minute deal to keep Athens in the euro zone after Greeks voted resoundingly to reject the austerity terms of a bailout.

Yanis Varoufakis, a self-proclaimed “erratic Marxist” economist who infuriated euro zone partners with his unconventional style and hectoring lectures, had campaigned for Sunday’s sweeping ‘No’ vote, accusing Greece’ creditors of “terrorism”.

Jul 5, 2015

ECB to keep tight funding grip on Greek banks after ‘no’ – sources

FRANKFURT, July 5 (Reuters) – The European Central Bank
(ECB) is likely to maintain emergency funding for Greek banks at
its current restricted level, people familiar with the matter
said on Sunday, a move that will see lenders run out of cash
soon.

There is little prospect of the ECB adopting a more generous
stance after Greeks voted overwhelmingly to reject the terms of
an international bailout meaning that the banks are likely to
remain closed in the coming days.

Jul 1, 2015

ECB keeps Greece on tight funding leash ahead of referendum

FRANKFURT (Reuters) – Euro zone central bank chiefs kept their existing cap on a funding lifeline to Greece in place on Wednesday, the ECB said, a move that keeps pressure on Greece as its lenders run out of cash.

The Governing Council of decision makers has pared back support to a bare minimum ahead of a bailout referendum that could decide Greece’s future in the euro, but decided against cutting it further, for fear that it would further destabilize the banks.

Jun 30, 2015

ECB ups pressure on Athens to step back from the brink

FRANKFURT (Reuters) – For followers of the chaotic events in Europe in recent weeks, Benoit Coeure’s remarks that Greece could leave the euro may have sounded like a statement of the obvious.

But for the usually cautious European Central Bank, the comments from one of its top officials were a loaded political warning and the first of its kind from the ECB to Athens that its Prime Minister Alexis Tsipras is playing with fire.

Jun 29, 2015

ECB rejects bumper Greek plea but existing support to stay – sources

ATHENS/FRANKFURT, June 29 (Reuters) – The European Central
Bank rejected Greece’s request for 6 billion euros of extra
emergency funds on Sunday, but is expected to continue limited
support for Greek banks until the July 5 referendum, people with
knowledge of the matter said.

The size of the request underscores the scale of the panic
gripping Greek savers, and would have left the ECB in little
doubt about the dramatic consequences of rejecting it.

Jun 29, 2015

Exclusive: ECB rejected Greek funding line request for extra 6 billion euro – sources

ATHENS/FRANKFURT (Reuters) – The European Central Bank rejected Greece’s request for 6 billion euros of additional emergency funding on Sunday but is expected to keep the funding line used by Greek banks open until the July 5 referendum, people with knowledge of the matter said.

Greeks rushed to withdraw their money from banks, piling pressure on the banking system, after Prime Minister Alexis Tsipras said on Saturday he would call the snap vote on the bailout proposed by creditors.

Jun 29, 2015

ECB rejected Greek funding line request for extra 6 bln euro–sources

ATHENS/FRANKFURT, June 29 (Reuters) – The European Central
Bank rejected Greece’s request for 6 billion euros of additional
emergency funding on Sunday but is expected to keep the funding
line used by Greek banks open until the July 5 referendum,
people with knowledge of the matter said.

Greeks rushed to withdraw their money from banks, piling
pressure on the banking system, after Prime Minister Alexis
Tsipras said on Saturday he would call the snap vote on the
bailout proposed by creditors.

Jun 28, 2015

Greece to shut banks, stock exchange on Monday as crisis deepens

ATHENS/FRANKFURT (Reuters) – Greek banks and the stock exchange will be shut on Monday after creditors refused to extend the country’s bailout and savers queued to withdraw cash, taking Athens’ standoff with the European Union and the International Monetary Fund to a dangerous new level.

Greece’s banks, kept afloat by emergency funding from the European Central Bank, are on the front line as Athens moves towards defaulting on a 1.6 billion euros payment due to the International Monetary Fund on Tuesday.

Jun 28, 2015

Greece considering capital controls, closing banks on Monday

ATHENS/FRANKFURT (Reuters) – Greece said it may impose capital controls and keep its banks shut on Monday after creditors refused to extend the country’s bailout and savers queued to withdraw cash, taking Athens’ standoff with the European Union and the International Monetary Fund to a dangerous new level.

Greece’s banks, kept afloat by emergency central bank funding, are on the front line as Athens moves towards defaulting on a 1.6 billion euros payment due to the IMF on Tuesday.

Jun 26, 2015

Germany’s Schaeuble says sees 50:50 chance of Greek deal

FRANKFURT (Reuters) – There is a 50-50 chance of the euro zone reaching an agreement with Greece about the reforms it needs to make in return for further aid, Germany’s finance minister said on Friday, adding that failure could compromise the currency bloc.

Wolfgang Schaeuble’s comments underlined the significant risk of failure of last-ditch negotiations this weekend to unlock loans to Greece and avert a default.

    • About John

      "I am a Reuters correspondent in Brussels, writing about the European Union. I moved here last year from Germany, where I had reported about the financial crisis, turning up numerous scoops and even winning a prestigious business reporting award. Beforehand, I worked with The Sunday Times in London."
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