Greek Referendum

Greece's new cabinet was sworn in on Wednesday, bringing in few new faces as re-elected Prime Minister Alexis Tspiras sought continuity in pushing through economic reforms under the watchful eye of international lenders.

Greek Prime Minister Alexis Tsipras will submit his resignation to the country's president later Thursday to clear the way for early elections on Sept. 20, a government official said.

Having staved off financial meltdown with a new agreement from Greece's international creditors, Tsipras now faces the anger of lawmakers and the public for agreeing to measures much tougher than those rejected in a referendum on July 5.

A sleep-deprived Prime Minister Alexis Tsipras will fly back to Athens to sell an agreement that ended up being tougher than proposals Greeks overwhelmingly rejected in a referendum on July 5. He has days to quell dissent within his own ranks -- probably by sacking hardliners -- and ram reform laws through parliament.

Greek Prime Minister Alexis Tsipras told U.S. Treasury Secretary Jack Lew that a cash-for-reform deal to keep Greece in the euro zone would need the commitment of all sides, a Greek official said, ahead of a crucial summit of euro zone leaders on Sunday.

Greece today promised it would start pension and tax reforms next week, as demanded by creditors, in return for a three-year eurozone loan to drag its financial system back from the brink of collapse.

President Barack Obama spoke by telephone with German Chancellor Angela Merkel on Tuesday to discuss the Greece debt crisis before his talks with Greek Prime Minister Alexis Tsipras, the White House said.

German Chancellor Angela Merkel said Tuesday that there was still no basis for talks on a new Greek bailout, as she arrived in Brussels for an emergency summit of eurozone leaders.

At least three companies in Greece including its biggest electronic appliances chain have paid staff in cash, after the country imposed limits on withdrawals from banks last week in a bid to ward off a possible collapse of its banking system.

The Greek crisis is unlikely to have any impact on the Indian economy since it has only negligible exposure to the troubled Mediterranean island, fund managers said here on Monday.

Commerce and Industry Minister Nirmala Sitharaman on Monday said the government is "very closely" monitoring the developments in Greece as that could have implications on the international currency market.

Leaders from Greece and other eurozone countries are looking to see if there is a way to resolve the struggling country's ongoing debt crisis, following a resounding rejection by Greeks of the latest bailout conditions.

International Monetary Fund chief Christine Lagarde on Monday said the global crisis lender would assist Greece if asked, a day after Greek voters rejected a prior bailout plan.

Greece's banks will stay closed at least until Friday, four banking sources said on Monday, as the country tries to reopen bailout negotiations with official creditors and save its financial system from collapse.

Taking a jibe at some economists and commentators, Finance Minister Arun Jaitley said has they change their views according to the evolving situation as it happened in the domestic capital market on Monday in the aftermath of the referendum in Greece.

Greece's new cabinet was sworn in on Wednesday, bringing in few new faces as re-elected Prime Minister Alexis Tspiras sought continuity in pushing through economic reforms under the watchful eye of international lenders.

Greek Prime Minister Alexis Tsipras will submit his resignation to the country's president later Thursday to clear the way for early elections on Sept. 20, a government official said.

Having staved off financial meltdown with a new agreement from Greece's international creditors, Tsipras now faces the anger of lawmakers and the public for agreeing to measures much tougher than those rejected in a referendum on July 5.

A sleep-deprived Prime Minister Alexis Tsipras will fly back to Athens to sell an agreement that ended up being tougher than proposals Greeks overwhelmingly rejected in a referendum on July 5. He has days to quell dissent within his own ranks -- probably by sacking hardliners -- and ram reform laws through parliament.

Greek Prime Minister Alexis Tsipras told U.S. Treasury Secretary Jack Lew that a cash-for-reform deal to keep Greece in the euro zone would need the commitment of all sides, a Greek official said, ahead of a crucial summit of euro zone leaders on Sunday.

Greece today promised it would start pension and tax reforms next week, as demanded by creditors, in return for a three-year eurozone loan to drag its financial system back from the brink of collapse.

President Barack Obama spoke by telephone with German Chancellor Angela Merkel on Tuesday to discuss the Greece debt crisis before his talks with Greek Prime Minister Alexis Tsipras, the White House said.

German Chancellor Angela Merkel said Tuesday that there was still no basis for talks on a new Greek bailout, as she arrived in Brussels for an emergency summit of eurozone leaders.

At least three companies in Greece including its biggest electronic appliances chain have paid staff in cash, after the country imposed limits on withdrawals from banks last week in a bid to ward off a possible collapse of its banking system.

The Greek crisis is unlikely to have any impact on the Indian economy since it has only negligible exposure to the troubled Mediterranean island, fund managers said here on Monday.

Commerce and Industry Minister Nirmala Sitharaman on Monday said the government is "very closely" monitoring the developments in Greece as that could have implications on the international currency market.

Leaders from Greece and other eurozone countries are looking to see if there is a way to resolve the struggling country's ongoing debt crisis, following a resounding rejection by Greeks of the latest bailout conditions.

International Monetary Fund chief Christine Lagarde on Monday said the global crisis lender would assist Greece if asked, a day after Greek voters rejected a prior bailout plan.

Greece's banks will stay closed at least until Friday, four banking sources said on Monday, as the country tries to reopen bailout negotiations with official creditors and save its financial system from collapse.

Taking a jibe at some economists and commentators, Finance Minister Arun Jaitley said has they change their views according to the evolving situation as it happened in the domestic capital market on Monday in the aftermath of the referendum in Greece.