Voting has begun in Greece's general election, with opinion polls indicating a tight race between the left-wing incumbent Syriza party and the conservative New Democracy.
Greece and its international creditors have agreed the substance of a new multi-billion euro bailout deal, according to a Greek finance ministry official.
Greece introduces a raft of capital controls on June 29 to stop a panicked outflow of cash from the country's banks, in a dramatic escalation of its financial crisis.
Greece's desire to stay within Eurozone is a seriously constrained choice for its economy. This is because it will continue to plague price competitiveness of Greece's exportables in the rest of the world.
The former Greek finance minster,Yanis Varoufakis says his country's economic reforms are "going to fail", just as formal talks on a huge bailout are set to begin.
Greek MPs have approved tough economic measures required to enable an €86bn eurozone bailout deal to go ahead.
Over the past couple of months, a Greek tragedy has been in the making. Doomsayers had made all kinds of prophesies – regarding Greece, Europe, the financial world, and the Euro.
Eurozone leaders say they have reached an agreement over a third bailout for Greece after marathon talks.
Fresh Greek bailout reform proposals submitted to Eurozone partners are cheered by France and Italy, raising hopes that a last-ditch compromise could be reached to prevent a dreaded "Grexit."
In a historical referendum on July 5, 2015, the Greek voters overwhelmingly sided with the current government in its debt negotiations with its European partners.
On July 5, the Greek people unanimously voted “No” in the country's referendum on whether to accept the terms of the EU bailout, with a convincing 61 percent of people rejecting the austerity measures brokered by European powers.
During my insensitive, immature childhood years I used to be hugely amused when a few of my South Asian friends from the South of India would shake their heads from left to right, saying Yes.
As with any case of austerity politics, the biggest losers were the working class, as conditions of free market investment benefitted the capital-owning class. These harsh measures eventually led to mass unemployment and underconsumption and as a result the economy suffered even more, worsening Greece's plight.
Greek Prime Minister Alexis Tsipras is expected to present new proposals at a Eurozone emergency summit on his country's growing debt crisis.