Yanis Varoufakis

Record numbers of migrants are heading to Europe's borders, hoping to escape violence and instability across the Middle East and North Africa. Europe's border agency recorded 340,000 illegal entries into the European Union in the first seven months of the year.

Greek PM faces biggest party revolt yet as bailout approved

After lawmakers bickered through the night on procedural matters, Tsipras comfortably won the vote on the country's third financial rescue by foreign creditors in five years thanks to support from pro-euro opposition parties. That clears the way for euro zone ministers to approve the deal later on Friday.

Germany, France press Greek to make fast, serious proposals

German Chancellor Angela Merkel and French President Francois Hollande, the euro zone's most powerful leaders, said Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency.

Tsipras under pressure over covert Syriza drachma plan

It is not clear how seriously the plans, attributed to former Energy Minister Panagiotis Lafazanis and former Finance Minister Yanis Varoufakis, were considered by the government and both ministers were sacked earlier this month.

Greece seeks bailout deal by Aug 20, sends bill to parl

Lawmakers are due to vote on a second batch of reforms tomorrow in a fresh test of Prime Minister Alexis Tsipras' authority, after he suffered a major rebellion in his radical-left party Syriza during a vote on a first tranche of bailout measures last week.

Greek parliament approves bailout prior measures package

The vote followed a stormy debate in which dozens of lawmakers on the left of the ruling Syriza party rebelled against Prime Minister Alexis Tsipras and opposed the package, which passed with the support of opposition parties.

Greek lawmakers pass austerity bill despite dissent

The bill, which imposes sweeping tax hikes and spending cuts, fuelled anger in the governing Syriza party and led to a revolt against Tsipras, who has insisted the deal forged after a marathon weekend eurozone summit was the best he could do to prevent Greece from catastrophically crashing out of the euro, Europe's joint currency.

Ex-Greek FM Varoufakis: 9 lines that made him media darling

Yanis Varoufakis, who also held the post of Greece finance minister until a day ago, is characterized as outspoken, controversial. Since his arrival into the public life, the media has been fascinated with this 54-year-old "accidental economist".

Asia shares win reprieve; Greek, China issues limit gains

Japan's Nikkei rose 1.2 percent while MSCI's broadest index of Asia-Pacific shares outside Japan , which fell to six-month low on Monday, was up 0.2 percent.

Contagion risk not very high; see risk-off trade: Banque

Hans Goetti of Banque Internationale says risk of a contagion is not as high as it was a few years ago and a 'no' outcome does not immediately imply a Grexit.

'Yes' camp takes slim lead in Greek bailout referendum poll

Supporters of Greece's bailout terms have taken a wafer-thin lead over the "No" vote backed by the leftist government, 48 hours before a referendum that may determine the country's future in the euro zone, a poll showed.

EU, IMF heap pressure on Greece days ahead of crucial vote

As Greece's leftist leaders staked their political lives on the outcome of Sunday's vote, the International Monetary Fund warned the country's growth prospects had deteriorated dramatically since the Syriza party came to power in January.

Greek government 'may resign' if it loses referendum

Greece‘s radical left government said on Thursday it may resign if it fails to win a referendum that could decide the country‘s financial future.

Wall St ends up but energy stocks low and Greek hopes waver

The benchmark S&P 500's energy sector was dragged down by the biggest slide in oil prices since April after traders were surprised by a report that showed US crude stockpiles rose for the first time in more than two months.

Greece seeks ECB's support after IMF default

Athens was due to put new proposals for a two-year loan agreement and a debt rescheduling to Eurogroup finance ministers after hinting that leftist Prime Minister Alexis Tsipras might be willing to scrap a referendum on bailout terms.

IMF rules out Greek payment delay

International Monetary Fund chief Christine Lagarde warned Greece it would get no leeway on a huge debt payment as EU ministers warned they were looking at a "plan B" for a possible default.

ECB warns Greece future in EU doubtful if talks fails

The Bank of Greece said the country's future in the European Union itself could also be at risk without a deal, underlining the extent to which officials who once refused any suggestion of "Grexit" are now openly discussing the prospect.

Greece defiant, accused of 'breaking all the rules'

As Greece remains defiant, despite talks with its international creditors stuck in deadlock, anger and concern is mounting in Europe about the finale to this Greek crisis.

Greece on 'brink of disaster', calls emergency meeting

Greece's Prime Minister Alexis Tsipras is to hold an emergency government meeting at midday London time, according to Greek media reports.

Greece's PM under pressure for concessions in debt talks

Greek Prime Minister Alexis Tsipras was under intense pressure to deliver crucial concessions to international creditors on Thursday to break a four-month deadlock and save his country from looming default that could pitch it out of the euro zone.

Greece talks of compromise as Merkel warns time is short

Greece proclaimed a new willingness to compromise with its international creditors on Monday, as German Chancellor Angela Merkel warned that time was running out for a reform-for-aid deal to keep the country in the euro.

Greek PM takes 'command' of reform talks: Sources

The Athens government has been in debt deadlock with its international creditors since it came to power in late January. While the left-wing Syriza party was elected on an anti-austerity ticket, those holding the purse-strings on its multibillion-euro bailout are insisting on strict economic and welfare reforms.

Greece signals concessions in crunch talks with lenders

Prime Minister Alexis Tsipras's three-month-old government is under growing pressure at home and abroad to reach an agreement with European and IMF lenders to avert a national bankruptcy. A new poll showed over three-quarters of Greeks feel Athens must strike a deal at any cost to stay in the euro.

Greece seeks negotiations on ECB bond repayment

Finance Minister Yanis Varoufakis said Athens should negotiate with the ECB on 6.7 billion euros in Greek government bonds held by the Frankfurt-based bank that mature in July and August.

Greece finance chief: We want to regain EU's trust

"The reason why we have this four-month period is to re-establish bonds of trust between us and our European partners as well as the IMF in order to build a new contract between us and our partners so as to put an end to this debt inflationary spiral," Yanis Varoufakis said in an interview in Athens.