Greek public transport workers and journalists have launched a week of strikes against a new round of austerity measures the Athens government is seeking to impose. Tram and metro stations throughout the capital were closed Monday, and journalists began a 24-hour walkout over job layoffs. A 48-hour strike is set to begin Tuesday, including a […]
Greek Workers Strike Ahead of New Austerity Vote
Posted November 5th, 2012 at 1:50 pm (UTC-5)
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Greek Transit Workers Strike
Posted November 2nd, 2012 at 10:55 am (UTC-5)
Greek transit workers struck Friday in the first of what labor officials say will be a new wave of protests against austerity measures the Athens government is seeking to impose. Subway and suburban rail service in Athens was halted as engineers protested labor reforms that Greece’s lenders are demanding in exchange for handing the country […]
World Finance Chiefs Meet In Germany On Global Economy
Posted October 30th, 2012 at 9:00 pm (UTC-5)
German Chancellor Angela Merkel hosted the heads of global financial bodies Tuesday in Berlin to discuss ways of reviving the western world’s stagnating economy. The chief of the International Monetary Fund, Christine Lagarde described the economic growth in recent years as “tepid” and recovery from the financial crisis as “laborious.” She urged the world’s major […]
Greek PM Says Debt Deal Reached with Lenders
Posted October 30th, 2012 at 1:15 pm (UTC-5)
Greek Prime Minister Antonis Samaras says he has reached agreement with the country’s international lenders on a new austerity plan, but his government’s junior partners immediately balked at the deal. Mr. Samaras said Tuesday that the government had completed negotiations with European Union and International Monetary Fund leaders on $17 billion in spending cuts and […]
Spain Recession Deepens
Posted October 23rd, 2012 at 10:05 am (UTC-5)
Spain says its recession is deepening. The Bank of Spain said Tuesday that its economy shrank for the fifth straight quarter in the July-to-September period. The central bank said the country’s economic fortunes dropped four-tenths of a percent, matching the contraction in the second quarter. Job losses have mounted in Spain, with more than a […]
Eurozone Leaders Praise Greek Austerity Efforts
Posted October 19th, 2012 at 9:35 am (UTC-5)
Eurozone leaders are praising the efforts of debt-ridden Greece to resolve its financial woes and resume its cost-cutting austerity. Some of the 16 other countries in the euro currency bloc have often attacked Athens for its slow pace in adopting financial reforms, even as the Greek populace has grown increasingly angry at the demands of […]
Greek Anti-austerity Protests Turn Violent
Posted October 18th, 2012 at 10:10 am (UTC-5)
Anti-austerity protests turned violent in Athens on Thursday, with hundreds of youths hurling gasoline bombs and rocks at riot police. Tens of thousands of Greek workers struck and marched to protest demands by the country’s international lenders that Athens impose more austerity measures before they will agree to hand Greece another segment of a bailout […]
EU to Discuss Strengthening the Euro; Greeks Strike
Posted October 18th, 2012 at 4:40 am (UTC-5)
Members of the European Union are meeting in Brussels Thursday to discuss how to strengthen the ailing euro currency. Germany is expected to press for the EU to play a stronger role in the economies of its member states, but it faces opposition by some member states reluctant to relinquish control over their finances. The […]
France’s Hollande Says End to Eurozone Crisis ‘Very Near’
Posted October 17th, 2012 at 10:10 am (UTC-5)
French President Francois Hollande says the end of the eurozone’s debt crisis is “very close,” but deep financial concerns remain for Greece and Spain in advance of a European Union summit. Mr. Hollande told a group of European newspapers Wednesday that the continent’s leaders had laid the foundation at a June summit for a banking […]
Greek Austerity Talks Remain Stalemated
Posted October 15th, 2012 at 11:40 am (UTC-5)
Greece says negotiations with its international lenders over the country’s latest austerity plan are unlikely to be concluded before this week’s European Union summit. Finance Minister Yannis Stournaras said Monday Greek officials are still talking with representatives of the International Monetary Fund, the European Central Bank and the EU. But he said he did not […]
