Greek police are investigating an explosion that killed a Turkish Kurd late Tuesday in the northern city of Thessaloniki. Police said Wednesday they found two machine guns and about 10 hand grenades in the basement of an apartment where the blast occurred. The explosion damaged buildings nearby. Authorities have not revealed the identity of the […]
Greek Police Investigate Deadly Explosion
Posted October 5th, 2011 at 12:15 pm (UTC-5)
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Greece to Pay Finland Collateral for Loan
Posted October 4th, 2011 at 7:35 am (UTC-5)
Greek Finance Minister Evangelos Venizelos says Greece has agreed to provide collateral to Finland in exchange for another round of bailout loans. Greece will issue $1.2 billion worth of collateral in the form of bonds. Finland demanded the collateral in exchange for participating in a Greek bailout package. Venizelos reiterated that the Greek government will […]
Greece To Miss Deficit Reduction Goal
Posted October 3rd, 2011 at 8:45 am (UTC-5)
The Greek Finance Ministry says it will miss a deficit reduction goal by nearly a full percentage point. Markets around much of the world reacted negatively to the news Monday, fearing a Greek debt default might be inevitable. Greece is struggling to prove to its lenders that it is cutting spending and raising revenue so […]
Robber Steals $1 Million from Athens Bank
Posted October 2nd, 2011 at 6:20 pm (UTC-5)
A man pretending to be a security company worker stole more than $1 million from the Athens airport branch of Greece’s Alpha bank. Police say the suspect arrived at the branch Sunday on the pretense of examining its security system. He then took out a gun and forced employees to open the vault, making off […]
Greece to Fire 30,000 Government Workers in New Budget
Posted October 2nd, 2011 at 4:25 pm (UTC-5)
The Greek Cabinet has approved a draft 2012 budget that includes a provision to eliminate 30,000 government jobs by the end of next year. Officials have not released details of the plan, including who would be laid off. The entire budget package will be sent to parliament on Monday. Also Sunday, the Finance Ministry said […]
Greek Prime Minister Promises to Fulfill Commitments
Posted September 27th, 2011 at 7:31 am (UTC-5)
Greek Prime Minister George Papandreou has promised that Greece will fulfill its financial obligations incurred during the ongoing debt crisis. He made the comments Tuesday at a German industry forum in Berlin. Both Mr. Papandreou and German Chancellor Angela Merkel were to address the German Federation of Industry forum before meeting to further discuss the […]
Greek Finance Minister: Don’t Make Greece Scapegoat for Global Economy
Posted September 25th, 2011 at 5:26 pm (UTC-5)
Greek Finance Minister Evangelos Venizelos said Greece must not be made the scapegoat for the world’s financial problems. He vowed that Greece will stay in the Eurozone. Venizelos spoke in Washington Sunday as the World Bank and International Monetary Fund wrapped up their annual meetings. Greece was a major topic. Venizelos said there has been […]
Greek Transportation Workers Strike Over Austerity Cuts
Posted September 22nd, 2011 at 3:35 am (UTC-5)
A day long strike by Greek public transit workers and taxi drivers over government austerity cuts has created traffic gridlock in Athens Thursday. Air traffic controllers are staging a shorter strike that forced airlines to cancel and reschedule flights. The work stoppage comes one day after the Greek government imposed more austerity cuts to keep […]
Greece Pleads Financial Case in Conference Call With EU and IMF
Posted September 19th, 2011 at 3:46 am (UTC-5)
Greek officials will try to convince officials from the European Union and International Monetary Fund that the country’s austerity plans will be tough enough to reduce budget deficits during a conference call Monday. The outcome of the call will determine whether Greece is eligible to receive its next aid payment, due in October. Prime Minister […]
Greece to Hold Conference Call with EU, IMF
Posted September 18th, 2011 at 8:40 pm (UTC-5)
Greek officials are to hold a crucial conference call Monday with officials from the European Union and International Monetary Fund, who are demanding to know how Greece will reform its economy. Prime Minister George Papandreou canceled Sunday’s planned trip to the United Nations in New York to chair a Cabinet meeting ahead of Monday’s telephone […]
