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Greece debt crisis News

Eurozone recovery stalled; more austerity possible

Frankfurt - With Europe’s economic recovery slumping, euro governments are under increasing pressure to act while facing considerable political obstacles and disgruntled constituencies ready to light the fuse on protests against renewed austerity measures.

Protests to be banned in Athens as EU finance ministers meet

Athens - Athens will ban protests on Tuesday and Wednesday when the capital will host a meeting of European Union finance ministers. Authorities claim the ban is necessary for security reasons.

Euro zone unemployment hit record high in September

Madrid - The euro zone big picture is a bit dimmer in terms of unemployment than it was a month ago. According to Eurostat, the European Union’s statistics facility, in a report out Wednesday, about 146,000 additional workers lost their jobs in September.

Troika proposes more restructuring of Greek debt

Athens - Greece's Troika of international creditors, the IMF, ECB, and EC, have controversially called for a new restructuring of Greek debt. The Troika also calls for an additional 150 new Greek reforms, while recommending a two-year extension to current reforms.

Greece rocked by violence; government approves more cutbacks

Athens - Strikes in Greece organized by the nation’s two largest unions evolved into violent protests Wednesday as protesters hurled firebombs at police in Athens where about 50,000 gathered to condemn new austerity measures.

Standard & Poor's releases negative outlook on Greece

Athens - Standard & Poor's changed its long-term rating outlook on Greece to "negative," Tuesday, setting up a potential ratings downgrade.

Greece rounds up thousands of illegal immigrants

Athens - Greece, long thought of as the gateway to Western Europe for Asian, African and Turkish immigrants, has rolled up the red carpet by rounding up thousands of illegal immigrants in a single operation.

Mental health illness increases in Greece

Athens - Mental illness is a serious issue that is increasing all over the world. In Greece, reports show that the debt crisis is taking its toll on young people.

Op-Ed: Are We Witnessing The End Days Of Supply Side Economics?

Embracing a new economic theory, after it gains a foothold in the public consciousness, only occurs when a sustained undesired economic result from the previously employed thesis metastasize into a full crisis for the political class.

Greek President: 'Banks very weak'

Athens - In a run on banks associated with recent elections and government economic insolvency, Greek depositors withdrew €700 million ($898 million) from local banks Monday.

Op-Ed: Good side of Greek debt? Markets might learn the LIARS lesson

Sydney - The likelihood of a Greek default has been causing shudders around the world. A small economy’s debt has terrified the finance markets. The risk of a Greek default, followed by further defaults is the bug eyed monster, but there’s a good side.

Mobile Social Kitchen Feeds the Hungry in Athens

Athens - A mobile social kitchen in Athens attempts to feed the growing number of hungry people. Placing themselves in a different square daily, they carry all their equipment by car and set up in a different location each day.

Op-Ed: Bizarre investor logic as the Greek bailout staggers along

Sydney - Just when you thought global finance couldn’t get any less impressive, the private bond holders, the European Central Bank and the IMF have come up with a new spin. The Greek bond settlement is expected to go through, with some truly strange logic.

Op-Ed: Ungrateful Greeks should say 'thank you' claims German politician

Patrick Döring, German political leader of the minor Free Democratic Party (FDP), who in December was accused of a hit and run traffic crime, has turned his attention to criticizing what he considers ungrateful Greeks.

Scandal of Greek MP's sending funds abroad during debt crisis

Athens - A scandal has engulfed the Greek Parliament following revelations that an unnamed member of Parliament allegedly sent €1 million of personal funds to a Swiss bank account during 2011.

British evacuation from Greece claims 'ridiculous'

William Hague, Britain's Foreign Secretary, has warned Britons in Greece that they should register with British authorities as UK prepares evacuation procedures.

Review: Artemis Honey, an ethically produced gastronomic delicacy Special

Athens - A social cooperative at a psychiatric hospital in Greece is producing honey and transforming the lives of the patients and the local community as well.

Leaked Troika report says Greek bailout may well fail

A leaked report from the Troika reveals that the very body responsible for agreeing the bail out loan to Greece, expect it may well fail.

Greece accepts 'enhanced and permanent' presence of EU monitors

Greece has agreed to accept an "enhanced and permanent" presence of EU monitors and Troika representatives, as a condition of the 130 billion bail out loan.

Eurogroup approves 130 billion euro bail out loan to Greece

After months of negotiating the Eurogroup finally approved the 130 billion euro bail out loan to Greece in the early hours of Tuesday morning

German economist says Greece is held hostage by banks

It is increasingly inevitable that Greece, already bankrupt, will at some point be forced to leave the euro. A German economist points out that the current crisis leaves the Greeks held hostage by the banks and financial institutions.

Op-Ed: Athens rioters possibly linked to police? Updated with video

Athens - Thanks to friends in Greece, some very interesting photos have come to light from previous protests and rioting in Athens. Who are the actual rioters?

Videos: real despair spreads through Greece

Athens - In the aftermath of the protests on Saturday, Athens is still cleaning up the mess from the fires and damage caused in the riot. A "must watch" video in the European Parliament states the situation clearly.

Op-Ed: What actually happened on Saturday in Athens, Greece?

Athens - Over the weekend thousands of people, some with their children, started a protest march towards Syntagma Square and the Greek Parliament. The following contains first-hand quotations from a protester.

Op-Ed: Video — In case you are wondering why Greece is in flames

Athens - For anyone who is "tut tutting" about the riots in Greece - the speaker in this video lays out clearly a comparison between the basic cost of living in Greece and Germany.

Athens burns while lawmakers debate

The center of Athens is in flames as thousands of protesters clash with police outside and around the Parliament building where politicians are engaged in a passionate debate about the future of Greece.

Greek humiliation as Brussels demands yet more

Athen - After agreement was reached on Thursday over a ruthless package of austerity measures to be implemented in Greece, Brussels is now making even more demands before the loan necessary to stave off default is approved.

Strikes in Greece against latest round of austerity cuts

Athens - More protests and strikes in the Greek capital as latest austerity measures are put to the vote in parliament. Public transport and ferries affected.

Op-Ed: Greece rejects German proposal to give up budgetary sovereignty

Athens - The Greek government has finally stood up and demonstrated some backbone and national pride, by rejecting a German proposal which would have seen Greece reduced to a puppet state.

Greece may leave Eurozone

Greece may be forced to leave the Eurozone if there is no agreement between its government and the EU and IMF over a further rescue package of 130 billion Euros, according to a government spokesman.
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Photos from Saturday s demonstration outside the Parliament.
Photos from Saturday's demonstration outside the Parliament.
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Photos from Saturday s demonstration outside the Parliament.
Photos from Saturday's demonstration outside the Parliament.
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Demonstration outside the Parliament
Demonstration outside the Parliament
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Photos from Saturday s demonstration outside the Parliament.
Photos from Saturday's demonstration outside the Parliament.
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Photos of rioters in Athens mingling with the Greek police.
Photos of rioters in Athens mingling with the Greek police.
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Photos of Central Athens after last night s protest.
Photos of Central Athens after last night's protest.
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Athens: A street scene
Athens: A street scene
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