Greek Prime Minister George Papandreou has appealed to parliament to support deeply unpopular austerity measures demanded by international lenders, as Greece seeks emergency loans to avoid defaulting on its debt. Mr. Papandreou told lawmakers Sunday Greece is at a “critical” junction, facing bankruptcy next month unless it secures the next installment of a bailout offered […]
Greek PM Appeals to Parliament to Support Unpopular Austerity Measures
Posted June 19th, 2011 at 2:35 pm (UTC-5)
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Greek PM Seeks Referendum on Changing Political System Blamed for Debt Crisis
Posted June 19th, 2011 at 10:05 am (UTC-5)
Greek Prime Minister George Papandreou is calling for a referendum on changes to a political system that has led to massive government debts and left the country struggling to avoid bankruptcy. Mr. Papandreou told parliament Sunday Greece is at a “critical” junction as it seeks emergency loans from international lenders to avoid a debt default […]
Greek Communists Protest Govt. Austerity Plans After Cabinet Reshuffle
Posted June 18th, 2011 at 1:15 pm (UTC-5)
Thousands of Greek communist party supporters have marched through the capital, Athens, to protest government austerity plans aimed at preventing the country from defaulting on its massive debt. About 5,000 protesters marched to the Greek parliament Saturday, led by communist party leader Alex Papariga, who accused the government of colluding with its creditors to “skin […]
Rush is On to Save Greece
Posted June 17th, 2011 at 3:20 pm (UTC-5)
Politicians both inside and outside Greece are scrambling to rescue the debt-ridden country, hoping to make sure it does not drag Europe into an even larger economic crisis. France and Germany set aside key differences Friday, promising a new rescue package would be completed as soon as possible. Their agreement came as Greek Prime Minister […]
Rush is On to Save Greece
Posted June 17th, 2011 at 1:40 pm (UTC-5)
Politicians both inside and outside Greece are scrambling to rescue the debt-ridden country, hoping to make sure it does not drag Europe into an even larger economic crisis. France and Germany set aside key differences Friday, promising a new rescue package would be completed as soon as possible. Their agreement came as Greek Prime Minister […]
France, Germany Move to Ease Greek Crisis
Posted June 17th, 2011 at 9:50 am (UTC-5)
France and Germany are setting aside key differences, promising a new rescue package to stop the Greek financial crisis from potentially crippling Europe’s economy. French President Nicolas Sarkozy said Friday, “There is no time to lose,” and that a new aid package would be completed as soon as possible. The two countries had been divided […]
Greece Names New Finance Minister
Posted June 17th, 2011 at 4:05 am (UTC-5)
Greek Prime Minister George Papandreou has named a new finance minister in a cabinet reshuffle designed to tackle the country’s crippling debt crisis. A government spokesman announced Friday that current Defense Minister Evangelos Venizelos will be the new finance minister, replacing George Papaconstantinou, who moves to the environment ministry. European Union economic chief Olli Rehn […]
EU Official: Eurozone to Agree on $17 Billion for Greece
Posted June 16th, 2011 at 5:05 pm (UTC-5)
European Union economic chief Olli Rehn says he is confident eurozone ministers will grant a $17 billion loan payment to Greece to prevent Athens from defaulting on its debt. Rehn spoke Thursday — another day of political and economic turmoil in Greece. Two ruling Socialist Party members of parliament quit to protest Prime Minister George […]
EU Official Expects Euro Zone to Agree on $17-Billion Loan for Greece
Posted June 16th, 2011 at 3:40 pm (UTC-5)
A senior European Union official says he expects the 17-nation eurozone to provide debt-ridden Greece with another $17 billion to prevent a Greek debt default that could further destabilize global financial markets. EU Economic Affairs Commissioner Olli Rehn said Thursday he is “confident” that eurozone finance ministers will agree to disburse the funds at a […]
EU Official Expects Euro Zone to Agree on $17 Bn Loan for Greece
Posted June 16th, 2011 at 11:05 am (UTC-5)
A senior European Union official says he expects the 17-nation eurozone to provide debt-ridden Greece with another $17 billion to prevent a Greek debt default that could further destabilize global financial markets. EU Economic Affairs Commissioner Olli Rehn said Thursday he is “confident” that eurozone finance ministers will agree to disburse the funds at a […]
