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Greece's Tsipras says 'strong national front' needed in talks ATHENS: Greek Prime Minister Alexis Tsipras on Monday called for 'a strong national front' to negotiate a way out of the country's debt crisis, after Greeks overwhelmingly rejected tough austerity terms set by international creditors. "We must move forward immediately with negotiations a strong national front must be created to seek an immediate solution," Tspiras told Greek President Prokopis Pavlopoulos after the vote.He is asking the president to convene a meeting of political party leaders. Copyright Reuters, 2015

Germany's Gabriel says Tsipras has torn down last bridge of compromise BERLIN: German Economy Minister Sigmar Gabriel told the Tagesspiegel daily that it was hard to imagine talks on a new bailout programme with Greece after the country clearly rejected bailout terms in a referendum. "With the rejection of the rules of the euro zone negotiations about a programme worth billions are barely conceivable," said Gabriel, leader of the Social Democrats (SPD) who share power with Chancellor Angela Merkel's conservatives. "Tsipras and his government are leading ...

Merkel, Hollande want euro zone leaders' summit on Tuesday BERLIN: German Chancellor Angela Merkel agreed in a phone call with French President Francois Hollande on Sunday night that a euro zone leaders' summit should be held on Tuesday after Greeks rejected bailout terms in a referendum, a German government spokesman said. The chancellor and president also agreed that the referendum result should be respected, said the spokesman. France's Elysee Palace confirmed the leaders want a summit on Tuesday.Copyright Reuters, 2015

Eurogroup to meet on Tuesday to prepare summit on Greece BRUSSELS: Euro zone finance ministers will meet on Tuesday to prepare an emergency euro zone summit on Greece later in the day, a spokesman for Eurogroup President Jeroen Dijsselbloem said on Sunday. "Additional Eurogroup on Tuesday July 7 to prepare euro summit on Greece, starting time to be confirmed," Michel Reijns said on Twitter. European Council President Donald Tusk earlier called a euro zone summit for 6 p.m. (1600 GMT) on Tuesday after Greeks voted ...

EU's Tusk calls euro zone summit on Greece for Tuesday BRUSSELS: European Council President Donald Tusk called a euro zone summit for Tuesday to discuss the Greek debt crisis after Greeks voted overwhelmingly on Sunday to reject the terms of a bailout. "I have called a EuroSummit Tuesday evening at 1800 (1600 GMT) to discuss situation after referendum in Greece," Tusk said on Twitter. European Commission President Jean-Claude Juncker will hold a conference call with Tusk, Eurogroup President Jeroen Dijsselbloem and European Central Bank President ...

EU's Dijsselbloem says awaits Greek moves after ‘regrettable’ vote BRUSSELS: The chairman of euro zone finance ministers said on Sunday it was up to Greek authorities to come forward with new plans after voters rejected bailout terms in a referendum result he called "very regrettable" for the future of Greece. "For recovery of the Greek economy, difficult measures and reforms are inevitable. We will now wait for the initiatives of the Greek authorities. The Eurogroup will discuss the state of play on Tuesday, July ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln