Fears that Greece will default on  debt have spurred outflows from banks in the euro zone country.  Photograph: Yorgos Karahalis/Bloomberg

Greek banks have seen deposit outflows accelerate over the past week as fears rise that the euro zone country will default on debt, two banking sourc(...)

‘It is possible to have too much finance. More importantly, significant economies are in this position, among them Japan and the US.’ Photograph: Getty Images/iStockphoto

Is it possible to have too much finance? Harmed by the aftermath of financial crises, enraged by bailouts of financial institutions, irritated by t(...)

Greece has to repay the International Monetary Fund €300 million on June 5th

Cash-strapped Greece could avoid paying back the IMF on June 5th and win more time to negotiate a funding deal without defaulting if it lumps toget(...)

A financial trader monitors data on computer screens at the Frankfurt Stock Exchange in Frankfurt, Germany. Photograph: Martin Leissl/Bloomberg

European shares fell on Tuesday and sterling rose to a 2-1/2 month high against a struggling euro as Greece’s ongoing debt drama offset bumper airline(...)

Supporters of Podemos in Madrid celebrate after the regional and municipal elections in which the big loser was Spain’s ruling Popular Party. Photograph: Andrea Comas/Reuters

“The big cities are the engine of political change,” Podemos party leader Pablo Iglesias told rapturous supporters after Sunday’s regional and municip(...)

Joseph Stiglitz, Nobel prize-winning economist and professor of economics at Columbia University,. Photograph: Simon Dawson/Bloomberg

Joseph Stiglitz hankers after old heroes: Teddy Roosevelt, who broke up John D Rockefeller’s Standard Oil at the end of the Gilded Age in the United S(...)

Greece’s interior minister, Nikos Voutsis: ‘The four instalments for the IMF in June are €1.6 billion. This money will not be given, and is not there to be given.’ Photograph: Alexandros Vlachos/EPA

Greece will be unable to meet its repayments to the International Monetary Fund next month unless it reaches a deal with creditors, Greece’s interi(...)

Fast-growing medical devices, pharmaceutical, and computer software sectors are expected to drive most of the growth during the year. Photograph: Aidan Crawley/Bloomberg

Exports from indigenous businesses and multinationals are expected to exceed €207 billion this year, compared with €190 billion last year, based on(...)

Greece will not make a debt repayment to the International Monetary Fund due next month as it does not have the money, the country’s interior minister Nikos Voutsis has said. Photograph: EPA

Greece will not make a debt repayment to the International Monetary Fund due next month as it does not have the money, the country’s interior minister(...)

Greek prime minister of Greece Alexis Tsipras (right) and the president of the European Investment Bank Werner Hoyer at an Eastern Partnership summit in Riga, Latvia, on Friday. Photograph: EPA/Valda Kalnina

Expectations that Greece could win some leeway from international creditors at an EU summit were dashed yesterday as the leaders of France and German(...)