Greek government-debt crisis

'Grexit' is back: A Greek exit from the euro raises fears of fiscal contagion

By Simon Kennedy

Mario Draghi?s July 2012 pledge to do ?whatever it takes? to keep the euro intact has kept speculators at bay for almost three years. Bond yields fell from Dublin to Athens, giving governments room to cut budgets and start revamping their economies.

EU Commission Says Grexit 'Legally Impossible'

The European Commission warned on Monday there was no legal mechanism which Greece could use to leave the Eurozone, a hypothetical event commonly dubbed "Grexit".

Remarks of Brussels officials followed a report by German news weekly Der Spiegel which claimed Berlin was inclined to accept a Grexit scenario after having put forth much effort to avoid it in the last years.

Greeks free to choose destiny but commitments remain, says Hollande

French President Francois Hollande on Monday urged Greece to abide by its European commitments, as the spectre of a Greek exit from the eurozone rears its head again.

"The Greeks are free to choose their own destiny. But, having said that, there are certain engagements that have been made and all those must be of course respected,» Hollande told French radio.

George Papandreou bounces back

The last time I saw George Papandreou was here in Istanbul exactly two years ago. He had come to Turkey to be a guest speaker at the annual meeting of the Global Relations Forum (GRF) and delivered a speech in the offices of Rumvader, the association of Greek-Orthodox foundations, in the vicinity of Aghia Triada Church in Taksim.