Economy

One of Manhattan’s most expensive restaurants has been forced to pay its waiting staff 500.000 dollars in court, after the New York General Attorney ruled it had illegally withheld their tips.

With several hours to go before polling stations close in Greece's bailout referendum, voting was proceeding smoothly on Sunday afternoon, Greek news agency ANA-MPA reported.

Bora Gürçay, the Motorola Turkey country manager responsible for all Motorola Turkey operations, has been named the new president of the Turkish-American Business Association American Chamber of Commerce (TABA/AmCham). 

Gürçay, who was elected unanimously in the general board meeting, will hold the position for the next two years, the organization said in a written statement. 

Greece would have to introduce another currency if the 'No' vote prevails in Sunday's bailout referendum, European Parliament President  Martin Schulz has said.

Greek voters headed to the polls on July 5 to vote in a historic, tightly fought referendum on whether to accept worsening austerity in exchange for more bailout funds, in a gamble that could see it crash out of the euro.

The outcome of Sunday's referendum in Greece on the bailout proposals made by the country's international lenders is too close to call, opinion polls suggest.

The rating agency Moody's has decreased the deposit rating of Bulgarian DSK Bank to Ba2/Not-Prime as well as the deposit rating of Reiffeisen Bank to Ba3/Not-Prime.

Their perspectives for development have been further decreased to ''stable''.

A month ago Moody's confirmed Bulgaria's rating of Baa2 with a stable perspective.

1. The huge debt problem!

2. A map that shows Greek debt proportions compared to other countries.

3. The tragic problem of unemployment

Greece's finance minister accused creditors of trying to "terrorize" Greeks into accepting austerity, warning Europe stood to lose as much as Athens if the country is forced from the euro after a referendum on July 5 on bailout terms. 

The Board of Directors of the European Financial Stability Facility (EFSF) decided on Friday to opt for a Reservation of Rights on EFSF loans to Greece, after the non-payment of Greece to the International Monetary Fund (IMF).