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Greek crisis News

Athens: Striking market vendors hand out 20 tons of free food

Athens - Market stall vendors staging a 24-hour-strike in Greece on Wednesday, set up their stalls in Athens to hand out 20 tons of free food.

Greece 2nd biggest defence spender among the 27 NATO countries

Athens - In spite of crippling austerity measures, a shrinking economy and reliance on bail-out loans, Greece remains the second-biggest defence spender among the 27 NATO countries.

Op-Ed: Majority of Greeks expect 2013 to be worse than 2012

As 2013 dawns a new poll shows the majority of Greeks expect this year to be worse than last, as tough new austerity measures and taxes take effect.

Golden Dawn's Christmas video: A nostalgic view of lost Athens

Athens - Greece's Golden Dawn (Chrysi Avgi) has posted a Christmas video they describe as "A beautiful, romantic and nostalgic video with pictures of old Athens we lost. The old Greek Athens as opposed to modern decline."

Op-Ed: Eurogroup and IMF reach agreement on Greek debt

Ministers from the eurozone in conjunction with the IMF have reached an agreement on Greek debt. The arrangement means Greece will receive €34.4 billion by the end of this year, staving off bankruptcy and a Grexit.

Troika fails to reach agreement on Greek debt

The Troika of Greece's international creditors' failed to reach an agreement on the sustainability of Greek debt, during a 12-hour meeting that ended early Wednesday morning.

Fuel consumption drops dramatically in Greece as taxes rise

Fuel consumption has declined sharply in Greece as the economic crisis deepens. The increase in international oil prices; the EU embargo on Iranian oil; reduced consumer income; and massive hikes in taxes, have all contributed to declining fuel sales.

Greek unemployment rises to record high

As Parliament voted to approve yet more biting austerity measures on the Greek people, the latest unemployment statistics were published. Unemployment has now reached a record high.

'Panic' at Harvard for Papandreou’s ‘Redesigning Europe’ Lectures

Former Greek Prime Minister George Papandreou is about to lead the ‘Redesigning Europe’ study group at Harvard, that has organised a lottery to satisfy the high demand to attend the study group.

Troika demands Greeks work 6-day week

Athens - A leaked e-mail sent to the Greek Labor Ministry by the Troika demands that workers in the private sector work a six-day week.

Greece to approve additional €11.66 billion in cuts

Athens - The Greek cabinet met on Friday to approve the latest round of austerity measures that will see further cuts of €11.66 billion. The cuts then need the stamp of approval from Greece's international creditors.

Op-Ed: Between a Rock and a Hard Place for Greece

Greece finds itself with its back against the wall and no one to turn to. A shrinking economy and outside pressure for austerity measures translate to extreme hardship for the bulk of its population base.

Greek coalition government bows down to Troika demands

Athens - The deadlock between party leaders in the coalition government over further proposed budget cuts has been broken, as all three leaders reached an agreement to adhere to the demands of the Troika.

Wolfgang Schaeuble rules out further concessions to Greece

Germany's Finance Minister Wolfgang Schaeuble yesterday ruled out any further concessions to Greece, decribing the current bail-out memorandum as "very accommodating."

'Greece cannot be saved, that is simple mathematics': German MP

Athens - As Greece's coalition government's three party leaders prepare to finalize €11.5 billion in cuts to satisfy creditors, negative comments continue to emanate from Germany, where there is growing pressure for a Greek euro exit.

Greek trade union calls Troika 'charlatans and quacks'

Athens - As Greece's creditors descended on Athens this week a meeting was held between the Troika and leaders of Greece’s trade union federation GSEE, leading the GSEE President to slam the austerity program as a disaster imposed by "charlatans and quacks."

Health spending limit will add more misery to Greek health crisis

Athens - Greek ministers have spent the week hastily seeking further spending cuts to present to the Troika of creditors on Friday. Amongst the purported cuts is a proposal to cap health costs covered by social security funds to €1,500.

International Monetary Fund knew Greek program would fail

Athens - As the threat of Greek bankruptcy and euro exit once again looms, Greece's former representative to the International Monetary Fund (IMF) has revealed the IMF knew from the outset that the program it prescribed for Greece would fail.

EU officials: International Monetary Fund to pull plug on Greece

Athens - Fears that Greece could be forced into bankruptcy in September have been raised by a report that the International Monetary Fund (IMF) is about to pull the plug on providing additional finance to the debt-ridden Mediterranean country.

Op-Ed: Greece to propose increasing mandatory military service

Athens - Mandatory military service in Greece may be extended from nine to 12 months, in an effort to reduce government expenditure on professional soldiers.

Yannis Stournaras named as new Greek Finance Minister

Athens - Speedily following the resignation of Vassilis Rapanos as Greece's new finance minister, a replacement has been appointed. Yiannis Stournaras, 55, will now take up the key cabinet position.

Thousands of people queue for free food from Cretan farmers

Athens - The Cretan farmers organisation distributed 25 tonnes of vegetables free of charge to impoverished Athenians on Wednesday morning.

Greek elections threatened by strike action

Athens - As world markets wait the outcome of the second Greek elections, scheduled to take place on June 17, which could determine Greece's fate within the euro, strike action has been threatened which could disrupt the process.

Greece's big fat asset sell off in limbo

Greece launched a big fat sale of state assets in 2010, in return for bailout loans, promising the Troika of creditors it would raise €50bn in addition to subjecting the Greek people to miserable austerity. Now the sell off is in limbo.

Tourists shrug off Greek crisis and head to the Mani

Four hours south of Athens lies a little discovered part of the Greek mainland, the Mani. Acclaimed for its beauty, it attracts discerning tourists who return year after year, once they have discovering its charms.

Greek cancer patients denied life-saving cancer drugs

Health care in Greece is in crisis as the government runs out of funds to pay pharmacies to supply prescription drugs, leaving cancer patients without life-saving drugs.

Op-Ed: Jeremy Paxman: 'Like a bad kebab, Greece is vomited out of' euro

London - Paxo put his foot in it on Thursday's edition of BBC's Newsnight when he said Greece “like a bad kebab”, faced the prospect of being “vomited out of the single currency”.

Athens: Three migrants attacked overnight

Athens - The spate of attacks against migrants in Athens is increasing. Three men were attacked on May 31, leaving them hospitalized.

Athens: Three migrants attacked overnight

Athens - The spate of attacks against migrants in Athens is increasing. Three men were attacked on May 31, leaving them hospitalized.

European Commission demands more austerity cuts in Greece

Athens - The European Commission has warned Greece that more spending cuts need to be made if the crisis-struck nation is to qualify for any further bail-out loans.
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