Greece debt crisis: Finance Minister Varoufakis resigns

Europe, July 6: Greece's finance minister Yanis Varoufakis has resigned, hours after voters backed his call to reject creditors' demands for more austerity in a referendum.

He said it was felt his departure would be helpful in finding a solution to the country's debt crisis.

Eurozone finance ministers, with whom he repeatedly clashed, had wanted him removed, Mr Varoufakis explained.

Meanwhile, global financial markets have fallen over fears that Greece is heading for an exit from the euro.

The European Central Bank (ECB) is to discuss whether to raise its emergency cash support for Greek banks, which are running out of funds and close to collapse.

Economy Minister, Georgios Stathakis said, the ECB had to keep Greek banks alive for seven to 10 days so that negotiations could take place.

But even if the ECB continued to freeze the Emergency Liquidity Assistance (ELA) at 89bn (63bn; $98bn), the current cash withdrawal and transfer restrictions on banks could stay in place until Friday, without any of them collapsing, he said.

Trump slams Clinton for her remarks on his voters

Washington: US President Donald Trump has slammed Hillary Clinton for her controversial remarks in India against his voters, saying Democrats have los...

Empowered Xi Jinping Says China Ready To Fight 'Bloody Battle'

Beijing: President Xi Jinping delivered a blistering nationalist speech on Tuesday, warning against any attempts to split China and touting the countr...

Defiant Shinzo Abe hits back over scandal as support plunges

Tokyo: Japan's embattled prime minister hit back at critics over a favoritism and cover-up scandal that has seen his popularity plunge and loosened hi...

Drone strike kills 6 IS terrorists in Afghanistan

Kabul: At least six terrorists belonging to the Islamic State (IS) group have been killed in the latest drone strike in eastern Nangarhar province of ...