Finance Minister Yanis Varoufakis said his resignation could help the prime minister negotiate a better deal with the EU. However, he said, he will wear the "loathing" of Greek creditors "with pride."
The country's banks could hardly be in a more precarious position. The European Central Bank has stopped lending Greece money and a referendum Sunday could spell the country's exit from the eurozone.
Prime Minister Alexis Tsipras was elected on the promise of renegotiating the regimen of austerity imposed on Greece by its creditors. And Europe warned him it expected Greece to repay its debts.
Prime Minister Alexis Tsipras insisted a rejection of creditors' proposals for a bailout did not mean Greece would leave the eurozone. Greece officially missed a loan payment to the IMF.
A crowd-funding effort to get the $1.8 billion Greece needs to make a loan payment to the International Monetary Fund has so far raised $124,569. Donors get gifts ranging from salads to gift baskets.
European finance ministers are meeting at 2 p.m. ET to consider the Greek proposal. The country has until 5 p.m. ET to make a loan payment to the International Monetary Fund.
This week, Greek will miss a $1.73 billion payment to the International Monetary Fund. The debt crisis has the potential to create financial, economic and geopolitical trouble for Americans.
They say a rejection of bailout terms would mean leaving the eurozone. The Greek government has urged its citizens to vote "no." The country is one day away from failing to make an IMF loan payment.
Germany says that there will be no more negotiations after the Greek premier called for a nationwide referendum on a bailout plan. Meanwhile, fearful Greeks are withdrawing their euros.
A Greek proposal could pave the way for another installment of a multibillion-dollar bailout. The move could stave off a Greek default on its debt and prevent the country from exiting the eurozone.
Athens says taking the matter to the International Criminal Court would take too long and the outcome would be uncertain. Instead he says Greece will use diplomatic channels for their return.
The coast guard crew encounters migrants — and smugglers — almost every night in the Aegean Sea, and the numbers are rising rapidly. Some come from as far away as Afghanistan.
Greece says Germany owes it billions of dollars for its World War II occupation by the Nazis. The German government says it has already paid, but some Germans feel more should be done.
Deputy Finance Minister Dimitris Mardas told a parliamentary panel the figure was about $305.17 billion. It's the first time Greece has set a figure for the German occupation in the 1940s.
The Greek plan would keep Athens' budget under control while spending more on social programs. European ministers agreed to extend financial assistance by four months, but the IMF was more skeptical.
Kastoria survived Greece's economic crisis primarily because of high Russian demand for the fur coats it produces. Then the Russian economy tanked. Now Kastoria is in trouble.
Athens gets an extension of four months on the terms of the EU bailout, ending for the short-term the danger that it will default and be forced out of the Eurozone.
With the bailout package that has kept Greece's economy afloat set to expire in just over a week, the country has formally asked Eurozone members for a six-month extension.
The new leftist Greek government says it wants to revolutionize a country that long has resisted change. So far, that hasn't included finally placing women at the highest levels of government.
Greece has threatened to quit the euro if an agreement over its debt isn't reached. There were hints that a deal with the new Greek government could be worked out. But turmoil looms if the talks fail.
Greece's new prime minister gave his first speech to Parliament Sunday. His nation was eager to hear his plans to revive the country's ravaged economy while also ending unpopular austerity measures.
