Cash-strapped Greece has raised the money it needs to help it avoid a default later this week. The Athens government sold more than $5 billion in bonds Tuesday, which coupled with other cash will allow it to pay off more than $6 billion in financial obligations it owes on Friday. Greece has adopted another round […]
Lenders View Greece’s Austerity Favorably
Posted November 12th, 2012 at 10:50 am (UTC-5)
Greece’s international lenders have written a favorable report on the country’s efforts to control its spending and debt, a key step toward handing Athens more bailout money. The head of the eurozone finance ministers, Luxembourg Prime Minister Jean-Claude Juncker, said Monday that the European Union, the European Central Bank and the International Monetary Fund reported […]
Greece Likely to Get More Time to Cut Debt
Posted November 9th, 2012 at 11:35 am (UTC-5)
European leaders appear set to give Greece two more years — to 2016 — to cut its debt even as questions remain about the release of a new portion of the country’s bailout money. A senior European Union official told reporters in Brussels Friday that the debt-plagued Athens government would be granted the extra time […]
Germany Says Quick Greek Aid Unlikely
Posted November 8th, 2012 at 11:10 am (UTC-5)
Germany, the economic leader of the euro currency bloc, says that Greece should not expect quick action on new bailout funds even though it has approved another unpopular austerity plan. German Finance Minister Wolfgang Schaeuble said Thursday he does not expect eurozone finance chiefs meeting next Monday to immediately release another $40 billion rescue package […]
Greek Parliament Passes More Deep Spending Cuts, Thousands Protest
Posted November 7th, 2012 at 6:50 pm (UTC-5)
Greece’s parliament has passed another package of deep spending cuts and tax increases, plans that sent tens of thousands of Greeks protesting in the streets of Athens. The lawmakers approved the measure just after midnight local time Thursday. It will increase some taxes and slash spending by another $17 billion, including government benefits and pensions. […]
Greek Protests Turn Violent Ahead of Austerity Vote
Posted November 7th, 2012 at 4:25 pm (UTC-5)
More than 80,000 Greek protesters fought with riot police outside parliament as lawmakers get ready to vote on another package of deep spending cuts and tax increases. Protesters in Athens Wednesday threw firebombs at police who responded with tear gas and stun grenades. Many Greeks are angry at the idea of having to endure more […]
Greek Protests Turn Violent Ahead of Austerity Vote
Posted November 7th, 2012 at 2:45 pm (UTC-5)
More than 80,000 Greek protesters are clashing with riot police, as lawmakers prepared to vote on a new austerity package required for another infusion of bailout funds from the European Union. The demonstrations outside the parliament building in Athens turned violent, as protesters threw fire bombs at police, who responded with tear gas and stun […]
Greek Lawmakers to Vote on New Austerity Measures
Posted November 7th, 2012 at 9:55 am (UTC-5)
Greek lawmakers are preparing to vote Wednesday on new austerity measures required for another infusion of bailout funding from the European Union, as a public workers’ strike is in its second day. Prime Minister Antonis Samaras is expected to narrowly win support for the austerity package, which includes $17 billion in cuts to spending, benefits […]
Greek Workers Strike as Parliament Debates Cuts
Posted November 6th, 2012 at 11:30 am (UTC-5)
A 48-hour public workers’ strike has begun in Greece, as lawmakers discuss a new round of austerity measures required for another infusion of bailout funding from the European Union. Police and anti-riot troops were out in force across the capital, Athens, Tuesday as more than 35,000 people marched through the city in two separate demonstrations […]
Greek Workers Strike as Parliament Debates Cuts
Posted November 6th, 2012 at 6:55 am (UTC-5)
A 48-hour public workers’ strike has begun in Greece, as lawmakers discuss a new round of austerity measures required for another infusion of bailout funding from the European Union. It is the third general strike in the past six weeks. Lawmakers began Tuesday to debate the austerity bill, which includes $17 billion in spending, benefit […]
