WRAPUP 2-IMF warns of huge financial hole as Greek vote looms *Warning that vote will decide Greece's future in Europe. ATHENS/ WASHINGTON, July 2- The International Monetary Fund delivered a stark warning on Thursday of the huge financial hole facing Greece as angry and uncertain voters prepare for a referendum that could decide their country's future in Europe. Days after Greece defaulted on part of its IMF debt, the Fund,...
| By: Renee Maltezou and David Chance
UPDATE 4-Euro zone yields rise as investors lighten positions before Greek vote LONDON, July 2- Government bond yields rose across the euro zone on Thursday as investors cut their holdings of both top-rated Bunds and riskier peripheral debt before a Greek referendum on EU-prescribed reforms which could go either way. "There's a very big weekend coming up and it's a really mixed picture today in the market which to me is reflective of very...
| By: Marius Zaharia
Polish PM candidate vows no euro, more economic justice WARSAW, Poland- Beata Szydlo led a little-known politician to a surprise victory in Poland's recent presidential election. The 52- year-old who managed the election campaign of President-elect Andrzej Duda is traveling the country these days in hopes of becoming Poland's next prime minister in the fall parliamentary election. The rising prominence of...
Source: The Associated Press
| By: By MONIKA SCISLOWSKA, Associated Press
UPDATE 1-IMF warns Greece needs debt extension, may require writedown WASHINGTON, July 2- The International Monetary Fund warned on Thursday that Greece would need an extension of its European Union loans and a potentially a large debt writeoff if it grows more slowly than expected and economic reforms are not implemented. The Washington- based institution, which is part of a "troika" that includes the European Commission and...
| By: David Chance
Greek crisis hits olive oil, wine exports Greek's agriculture sector was already facing a challenging 2015, but now there's fear the uncertainty could disrupt the food and wine trade.
| By: Jeff Daniels
FACTBOX-Mechanics of the Greek referendum on Sunday ATHENS, July 2- Greece's left-wing government has called a referendum for Sunday, July 5, after five months of acrimonious talks with its official creditors over an aid-for-reforms deal broke down without a deal. Prime Minister Alexis Tsipras has said the plebiscite is not about Greece's membership of the EU single currency but a chance for Greeks to say...
Why Greece should vote 'No!' Greece should vote "no" on the European deal to extend its bailout-the best solution is for creditors to take a haircut, says Peter Morici.
| By: Peter Morici
WRAPUP 1-Greeks head towards Sunday vote in anger and confusion *Warning that vote will decide Greece's future in Europe. ATHENS, July 2- As Greece heads to a referendum on Sunday that could decide its future in the euro zone, long queues at cash machines have become the most potent symbol of the cost of the deadlock between the left-wing government and its international lenders. Prime Minister Alexis Tsipras' rejection of what...
| By: Lefteris Karagiannopoulos and Renee Maltezou
INSIGHT-Superbug threat prompts West to revisit Soviet-era virus therapy LONDON, July 2- Alarmed by rising resistance to antibiotics, the main line of defence against bacterial infections, scientists and governments are taking a fresh look at bacteria-chomping viruses first isolated a century ago from the stools of patients recovering from dysentery. So-called bacteriophages, which attack bacteria but leave human cells...
| By: Ben Hirschler