Headlines around the world yesterday were all about Greece (just for a change)!
Greece is to hold yet more coalition talks, they have been talking and talking for days with no agreement.
Reports of political uncertainty has sent markets all around the world plunging as there are fears of Greece possibly leaving the eurozone (again).
The small village, Piyi in Serres with 2,000 residents, had their own “revolution” on March 25th.
Following a public assembly of all the residents, who are mostly elderly, they decided to use the ‘drachma’!
This is the first Greek village which has implemented this practice.
Finance Minister Evangelos Venizelos assumed the leadership of Socialist PASOK on Sunday in a one-man election that attracted stronger-than-expected support for the beleaguered party ahead of looming snap polls, expected in late April or early May.
Investors are increasingly hopeful that Greece will secure a vital debt swap deal, as a Greek official said that more than 75% of bondholders had now agreed to take part.
Greece and the European Union on Thursday signed a cooperation memorandum for a new loan programme for the country on the 1st March. The memorandum is also countersigned by the Bank of Greece (BoG) and binding letters by the leaders of New Democracy and PASOK parties to the Eurogroup president, which are attached to the deal.
Lucas Papademos, prime minister, struggled to maintain order in parliament ahead of Sunday’s crucial vote on the budget plans which he needs to win to secure Greece’s €130bn (£109bn) bail-out.
Alarmed at the prospect of more budget cuts, Greece’s two main trade unions have called a 24-hour strike to protest policies they say that have only driven the economy into a downward spiral.
Pressure on Greece’s recession-stricken economy has intensified after international debt inspectors admitted an additional €15bn (£12.5bn) would be needed to fill a newly discovered black hole in the country’s finances.
British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.