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Debt Crisis: Greek Banks Remain Closed Nationwide Till Monday

Athens has extended banking closures across the country into next week, as it faces the possibility of financial collapse. The heads of the US Treasury and the IMF have said a degree of debt restructuring is in order. The Greek Finance Ministry said it was extending the closures of banks ...

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Ray Of Hope: Restructure Greek Debt – IMF Tells Greece’s Creditors

The head of the Managing Director of the International Monetary Fund (IMF) Christine Lagarde has called on Greece’s creditors to restructure the country’s debt. That – along with reform in Athens – would make Greek debt sustainable, said in Washington. In comments made at the Brookings Institute think-tank in Washington, ...

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Turkey: ‘Kill The Gays’ Posters Stir Up Capital, Instanbul

An Islamist group pinned posters across Ankara in an attempt to use religious references to incite hatred against gays and lesbians. With political Islam on the rise, local governments choose to ignore the problem. Quoting a verse from the Hadith – a collection of sayings of Prophet Muhammad – unauthorized ...

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Greek Debt: Full 28 EU Summit Holds On Sunday

A special EU summit has been convened for Sunday, after an emergency eurozone leaders’ meeting finished without a deal. Leaders from all 28 states are to be included in the discussion of proposals expected from Athens. European Union leaders are to hold a decisive summit on the Greek debt crisis ...

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Greek Debt: All Eyes On European Central Bank After ‘No’ Vote

Greeks’ resounding ‘No’ vote in Sunday’s referendum left the ECB, a last source of funding for Greece’s debt-laden banks, with a moral quandary: Keep pumping money into a system on the brink of bankruptcy or not? A day after Greek voters squarely rejected the notion of trading unpopular economic reforms ...

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Boko Haram: US Condemns Insurgents’ Recent Attacks

The United States (US) has strongly condemned the recent attacks in the North-east by the Islamist insurgency sect Boko Haram. The attacks by Boko Haram claimed the lives of the pastor and five worshippers in a Redeemed Church in Potiskum, Yobe State, as well as more than 140 near a ...

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Confusion In Eurozone… As Greeks Vote No, Their Future Up In The Air

Early results say the Greeks have voted against the conditions of any further bailout, raising possible issues with regard to Athens’ future in the eurozone. A special eurozone summit on Greece has been called for Tuesday. The Athens administration claimed “a clear mandate” for less stringent bailout conditions after the ...

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Poverty Alleviation: Pope Francis, 78, Begins Campaign Tour Of S’America

As part of moves to highlight the plight of the poor on his home continent, 78-year-old Pope Francis starts his first South American trip in two years on Sunday, for an eight-day tour of Ecuador, Bolivia and Paraguay. The Jesuit pontiff, the first Pope from his “beloved South America,” is ...

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Angela’s Ashes: How Merkel Failed Greece and Europe

Angela Merkel relishes her reputation as queen of Europe. But she hasn’t learned how to use her power, instead allowing a bad situation to heat up to the boiling point. Her inability to take unpopular stances badly exacerbated the Greek crisis. Angela Merkel was already leaving for the weekend when ...

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Tunisia Declares Emergency Rule After Beach Resort Attack

Tunisian President Beji Caid Essebsi declared a state of emergency on Saturday to hand his government more authority following an Islamic militant attack on a beach resort, where 38 foreign tourists, mostly Britons, were killed.

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