Withdrawal from the European Union

German FinMin predicts “difficult situation” for Greece

German Finance Minister Wolfgang Schauble gave a press conference claiming that Greece is likely to find itself in a “difficult situation” over the coming days.

He said that the Greek decision to end negotiations with a call for a referendum surprised everybody, making it clear that this move will not solve Greece’s problems.

What’s next for Greece? Pain, heartbreak… and then recovery!

No sooner did Prime Minister Alexis Tsipras announce the Radical Left Coalition (SYRIZA) government’s decision to hold a referendum on the creditors’ proposals for Greece that the panic began. All hell broke loose as people rushed to ATMs in fear that banks would collapse, cars lined up at gas stations, people rushed to supermarkets to stock up on food and other necessities.

Austrians want a referendum to leave the EU

Just as everybody was fearing a Grexit, Frexit, Brexit, the Austrians launched a petition to quit the EU. Activists who launched the petition argue that Austria would be better off economically without the EU and is on a drive to gather 100,000 signatures by July 1 required for the national parliament to consider the initiative.

Greek PM Dismisses Latest Bailout Proposal, Accuses Creditors of Blackmail

Greek Prime Minister Alexis Tsipras dismissed on Friday the latest proposal of the international creditors to extend the country's bailout, criticising their approach as unacceptable.

Tsipras stressed that the founding principles of the EU were democracy, solidarity, equality and mutual respect rather than ultimatums and blackmail, the Greek Reporter informs.

Merklande herds the Grexit, but Madame Frexit is being difficult

The euro debt crisis has spawned its own vocabulary. Right at the outset we had the PIIGS (Portugal, Italy, Ireland, Greece and Spain) being herded by Merkozy. Then came Merlande or Merkellande (dubbed for German Chancellor Angela Merkel and French President Fraancois Hollande)… But what will come after the Grexit?