Greece nearly crashed out of the eurozone in 2015.
Bill Anastasiou / Shutterstock.com
The strict nature, implementation and dramatic social costs of the EU bailouts prompt questions about their effectiveness.
Turkish president, Recep Tayyip Erdoğan.
EPA-EFE
President Erdoğan is accusing the West of striving to destabilise Turkey.
Raffaele
Before the financial crisis struck, you could breathe the overwhelming air of prosperity on the bustling streets of Trikala.
Trade unions protest the state of the economy.
EPA/Sotiris Barbarousis
After eight torturous years of crisis, Greeks are working long and hard with very little to show for it.
EPA/Katia Christodoulou
Cyprus is successfully exiting its bailout at the end of March after three years.
EPA/Tiago Petinga
Portugal’s return to growth has many calling it the star pupil of the eurozone crisis. A look beyond the headline figures puts this into question, however.
Running out of options.
EPA/Yannis Kolesidis
It’s groundhog day for Greece as the third bailout package is negotiated. And there’s no reason to think this one will be any more successful than the last two.
How to explain Greece’s bailout puzzle?
Greece puzzle via www.shutterstock.com
No one seems to really believe the latest bailout plan will work without debt relief. But the only way to get Greece to adopt essential reforms is to pretend it isn’t in the cards.
Cash: not to be taken for granted.
EPA/Orestis Panagiotou
The euro remains fatally fragile so long as the eurozone lacks a mechanism for forgiving debt.
The No vote won it.
EPA/Armando Babani
July 5, 2015
Costas Milas , University of Liverpool ; George Kyris , University of Birmingham ; James Arvanitakis , Western Sydney University ; Marianna Fotaki , Warwick Business School, University of Warwick ; Nikos Papastergiadis , The University of Melbourne ; Remy Davison , Monash University ; Richard Holden , UNSW Sydney ; Ross Buckley , UNSW Sydney , and Sofia Vasilopoulou , University of York
Academic experts respond to the No vote in Greece’s referendum on whether or not to accept a bailout offer from their international creditors.
No campaign voters burn an EU flag.
EPA/Armando Babani
Greeks face a big dilemma in the July 5 referendum. It’s been badly organised, democratically questionable and there’s a great deal at stake.
The cry from the streets.
Denis Bocquet
Debt relief should not be a divisive bargaining tool. Better that it is a formal part of a structured approach to risks in a currency union.
Greek voters have to choose between unfathomable consequences or ongoing misery. Some choice.
AAP/EPA/Alexandros Vlachos
A famed game theory parable involving mutually assured destruction explains the Greek debt crisis and could explain the outcome of the Greek referendum this Sunday.
In trouble.
EPA/Yannis Kolesidis
Greece is set to become the first advanced economy to default on the IMF in its 71-year history.
People queue to withdraw cash from Greek banks.
EPA/Alexandros Vlachos
With the ECB freezing the level of emergency liquidity assistance it is providing to Greek banks, the nightmare scenario for Greece is already beginning to unfold.
Alexis Tsipras has called a referendum of Greece’s bailout offer.
EPA/Simela Pantzartzi
Austerity has crippled the Greek economy and Greek society. To accept more is a decision that should be given to the Greek people.
Head to head.
EPA/Julien Warnand
What you need to know about the IMF and its approach to negotiations over a Greek bailout.
Signs of resistance.
EPA/Simela Pantzartzi
The Greek parliament’s Truth Commission on Public Debt has declared much of Greece’s €320 billion debt to be “odious” and illegal.
Greece faces two difficult outcomes.
EPA/Yannis Kolesidis
Whether Greece reaches a new bailout agreement or not, the country is in for a rough ride.
Too intransigent?
EPA/Simela Pantzartzi
Like Diogenes the Cynic, Greece’s Syriza government have been intransigent in negotiations with powers stronger than them.