U.S. Secretary of State Hillary Clinton has arrived in Greece for two days of talks with government officials that are expected to focus on the country’s economic crisis. Clinton arrived Saturday, after wrapping up a trip to Turkey. She is to meet Sunday with Greek Prime Minister George Papandreou. A senior official traveling with Clinton […]
Clinton in Geece for talks on Economy
Posted July 16th, 2011 at 7:10 pm (UTC-5)
U.S. Secretary of State Hillary Clinton has arrived in Greece for two days of talks with government officials that are expected to focus on the country’s economic crisis. Clinton arrived Saturday, after wrapping up a trip to Turkey. She is to meet Sunday with Greek Prime Minister George Papandreou. A senior official traveling with Clinton […]
IMF Report: Greece’s Debt Could Fall if Measures Strictly Implemented
Posted July 13th, 2011 at 8:30 pm (UTC-5)
The International Monetary Fund said Wednesday that Greece’s debt will decline only if authorities are able to implement their ambitious fiscal and privatization program. In the latest review of its 2010 rescue loan to Greece, the global lending institution warned that for the program to succeed, the austerity measures must be implemented in a timely […]
Turkey Calls for Cyprus Deal by Year’s End
Posted July 9th, 2011 at 2:30 pm (UTC-5)
Turkey is calling for a deal to reunify Greek and Turkish sectors of Cyprus by the end of the year in hopes that the island can assume the European Union presidency next year as a unified country. Turkish Foreign Minister Ahmet Davutoglu said Saturday that if terms of a reunification can be settled in the […]
IMF Approves $4.3 Billion for Greece
Posted July 8th, 2011 at 7:05 pm (UTC-5)
The International Monetary Fund has approved the release of about $4.3 billion as part of an effort to help Greece pull back from an impending debt default. The IMF’s executive board approved the package Friday. The payment is part of a $156 billion bailout package from the IMF and European Union that was agreed on […]
IMF Approves $4.3 Billion for Greece
Posted July 8th, 2011 at 6:35 pm (UTC-5)
The International Monetary Fund has approved the release of about $4.3 billion as part of an effort to help Greece pull back from an impending debt default. The IMF’s executive board approved the package Friday. The payment is part of a $156 bailout package from the IMF and European Union that was agreed on last […]
European Court Rejects Greek Lawsuit for Nazi Massacre
Posted July 6th, 2011 at 10:05 pm (UTC-5)
The European Court of Human Rights has thrown out a lawsuit by four Greek citizens whose parents were murdered by the Nazis in World War II. The plaintiffs were demanding compensation from Germany. But the Strasbourg- based court ruled Wednesday that a European human rights treaty does not oblige nations to make reparations for crimes […]
Governments, Bankers Work to Rescue Greek Bailout
Posted July 5th, 2011 at 3:35 pm (UTC-5)
International bankers and European government officials are trying to come up with a financial rescue plan for Greece without creating more problems. International bankers met in Paris Tuesday and planned more meetings Wednesday after some of the world’s top credit rating agencies warned that a French proposal could still leave the Greek economy in trouble. […]
S&P Warns on Terms of Greece Bank Plan
Posted July 4th, 2011 at 2:25 pm (UTC-5)
The credit rating agency Standard & Poors warned Monday that Greece could be considered in default on its debts under a French proposal for private banks to agree to “roll over” loans to the Greek government. The French proposal was designed to help Greece avoid defaulting on its private debt, but S&P said under its […]
Eurozone Releases Another Greek Bailout Installment
Posted July 2nd, 2011 at 4:25 pm (UTC-5)
Eurozone finance ministers have cleared the way for Greece to receive a $17-billion installment by July 15, which is part of the $156-billion bailout for the debt-ridden country secured last year from the European Union and the International Monetary Fund. Following a late Saturday teleconference, the ministers said they will also determine the details of […]
