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On 21 August 2015, 25 MPs from SYRIZA split from the party and formed Popular Unity, which fully supported leaving the euro. [40] In the September 2015 Greek legislative election, the party won 2.8% of the popular vote, winning no seats. Both the Greek government and the EU favoured Greece staying within the Euro and believed this to be possible.
The possibility of a member state leaving the Eurozone was first raised after the onset of the Greek government-debt crisis. The term "Grexit" itself was reportedly [1] first used by Citigroup economists Willem Buiter and Ebrahim Rahbari in a 2012 report about the possibility of Greece leaving the Eurozone. [2]
Further, the European Commission signaled that the referendum question, to which they would recommend a "Yes", from its viewpoint should be understood as whether or not Greece wanted to remain part of Europe and the Eurozone, which at the present state included acceptance of receiving conditional bailout help on a set of mutually negotiated and ...
BRUSSELS (AP) -- Greek Prime Minister Alexis Tsipras and skeptical European leaders negotiated past a self-imposed deadline into the early hours of Monday, with talks stuck on how Greece would ...
In the wake of Greece's debt crisis, the economic union of the European countries that share the euro as their common currency has been tested as never before. Some have suggested that the debacle ...
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The euro made its biggest gain in 18 months, [90] before falling to a new four-year low a week later. [91] Shortly after the euro rose again as hedge funds and other short-term traders unwound short positions and carry trades in the currency. [92] Commodity prices also rose following the announcement. [93] The dollar Libor held at a nine-month ...
Sunday's elections in France and Greece have defiantly and decisively moved the backlash against austerity from the streets of Europe to the halls of political power. With the winning parties in ...
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