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Greek crisis: more than $30bn wiped off Australian stock market after no vote

More than $30bn has been wiped off the Australian stock market after debt-ridden Greece’s decision to reject international creditors’ tough bailout terms. The Australian dollar dipped to a six-year low of US$0.7484 in early trading but recovered to 0.7509 as the ASX/S&P 200 and All Ordinaries fell by 1.7%. CMC Markets chief market strategist Ric Spooner said the no result ...

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IMF says Greece needs extra €60bn in funds and debt relief

The International Monetary Fund has electrified the referendum debate in Greeceafter it conceded that the crisis-ridden country needs up to €60bn (£42bn) of extra funds over the next three years and large-scale debt relief to create “a breathing space” and stabilise the economy. With days to go before Sunday’s knife-edge referendum that the country’s creditors have cast as a vote ...

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