Greece becomes first developed nation to default on international obligations

Source: RT | The International Monetary Fund has confirmed that it didn’t receive the €1.6 billion payment from Athens that was due by the end of June 30, Brussels time, making Greece the first developed country to default on its international obligations.

IMF spokesman Gerry Rice said in a statement that Greece had asked for a repayment extension earlier Tuesday and that the fund’s board will consider it “in due course.” – Read More – RT

 

 

Greece defaults on IMF payment despite last-minute overtures to creditors

Source: Yahoo | Greece made last-minute overtures to its international creditors for financial aid on Tuesday, but it was not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund.

The left-wing Greek government had asked European partners for a two-year aid package to cover its financing needs. Later on Tuesday, Greece’s Finance Minister Yanis Varoufakis indicated on a call with European counterparts that Athens might scrap a controversial July 5th referendum if a deal was reached, according to euro zone sources. – Read More – Yahoo

 

 

Tsipras ready to accept most bailout terms

Source: RT | Greek Prime Minister Alexis Tsipras is ready to accept almost all the conditions proposed by the country’s international creditors at the weekend, marking the latest attempt to keep Greece in the eurozone.

The prime minister said he would accept all of the terms proposed with just minor exceptions. He agreed to the changes in the country’s value added tax system but asked to keep a special 30 percent discount for the Greek islands untouched. – Read More – RT



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