Indiegogo Campaign To Bail Out Greece Has Raised $1.65 Million… Only $1.77 Billion To Go

Indiegogo Campaign To Bail Out Greece Has Raised $1.65 Million… Only $1.77 Billion To Go

With Greece facing such a dire debt crisis that it recently shut down the country’s banking system in order to keep money from flooding out across its borders, it’s going to take a massive effort to get the country back on solid financial footing. And in this day and age of crowdfunding, why not try to raise a couple of billion dollars online? [More]

(Nick Papakyriazis)

With No Credit Cards Allowed, No Cash In ATMs, No Banks Open, Tourists In Trouble In Greece

Banks all across Greece are closed today, and will remain closed for the rest of the week. Not because it’s a holiday, but because the Greek government is trying to stop the banking system from collapsing as money flows out of the country while its long-running debt crisis reaches a critical point. As a result, tourists in Greece are finding themselves unable to pay for basics like food and shelter. [More]

Telephone Company Cuts Off Greek Prime Minister's Phone Service

Telephone Company Cuts Off Greek Prime Minister's Phone Service

While his government wallows in massive debt, the Prime Minister of Greece has his own problem — the telephone company turned off service to his home phone earlier this week. [More]

Dow Jumps 400 On Euro Stimulus Loan News

Dow Jumps 400 On Euro Stimulus Loan News

Got whiplash? US and global indexes jumped on Monday, responding to news of a $1trillion European loan package to staunch their debt crisis. The rally reinstated the gains erased by a panicked sell-off driven by concerns that Greece’s debt crisis would infect other markets. [More]

Wall St. Helped Hide Greece's Debt, Now It's Kablooie!

Wall St. Helped Hide Greece's Debt, Now It's Kablooie!

Looks like Goldman turned the Parthenon into a gunpowder magazine for a second time; Greece’s recently revealed debt crisis is rattling the world economy and familiar culprits are at play: Wall Street banks, off-the books loans, derivatives, and other occult financial instruments. I guess we blame the consumer on this one too? [More]