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Greek Lawmakers Abandon Ruling Party Over Economic Policy

Posted June 16th, 2011 at 6:55 am (UTC-5)
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Greek Prime Minister George Papandreou says he plans to form a new government Thursday to help push forward austerity measures tied to an international bailout. Mr. Papandreou says he will then ask for a vote of confidence in parliament, after coalition talks with the opposition fell apart. Mr. Papandreou made his announcement on television Wednesday […]

Tags: , , , Posted in Economy, Europe

Greek PM to Form New Cabinet to Deal with Economic Crisis

Posted June 16th, 2011 at 5:25 am (UTC-5)
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Greek Prime Minister George Papandreou says he will form a new government Thursday to help push forward austerity measures tied to an international bailout. Mr. Papandreou says he will then ask for a vote of confidence in parliament, after coalition talks with the opposition fell apart. Mr. Papandreou made his announcement on television Wednesday following […]

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Papandreou to Form New Government in Greece

Posted June 15th, 2011 at 4:12 pm (UTC-5)
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Greek Prime Minister George Papandreou says he will form a new government Thursday and immediately ask for a vote of confidence in parliament, after coalition talks with the opposition fell apart. Mr. Papandreou made his announcement on television Wednesday following a day of violent protests against plans for more spending cuts and tax hikes. The […]

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Greek TV: PM Offers Unity Government With Opposition

Posted June 15th, 2011 at 1:00 pm (UTC-5)
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Greek state television says socialist Prime Minister George Papandreou is offering to form a unity government with the conservative opposition to help win support for austerity measures demanded by international lenders. NET television says Mr. Papandreou made the offer in a meeting with opposition leader Antonis Samaras on Wednesday. Some conservative lawmakers are calling for […]

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Protests Against Spending Cuts in Greece

Posted June 15th, 2011 at 6:55 am (UTC-5)
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Greek police and protesters clashed as thousands of people filled a central square in Athens to protest new austerity measures on Wednesday. Police fired tear gas at protesters in Syntagma Square and erected barricades in front of parliament to allow lawmakers to enter the facility to debate another round of deep spending cuts. Protest groups […]

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Protesters to Form Human Chain Around Greek Parliament

Posted June 14th, 2011 at 7:00 pm (UTC-5)
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Greek protesters say they plan to prevent lawmakers from entering the parliament in Athens Wednesday to try and stop debate on another round of deep spending cuts. Demonstrators say they will form a human chain around the building as part of another 24-hour general strike against the government’s economic plans. Trains, ferries, and busses will […]

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Greece’s Credit Rating Cut

Posted June 13th, 2011 at 6:45 pm (UTC-5)
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The financial services company Standard & Poor’s has cut Greece’s credit rating deeper into junk territory, saying the country is likely to default on its massive debts within the next year. Monday’s downgrade from B to CCC makes Greece the least credit worthy country in the world on the rating agency’s list. Barely a year […]

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Germany Says Private Creditors Must Help With Greek Bailout

Posted June 10th, 2011 at 9:35 am (UTC-5)
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German Finance Minister Wolfgang Schaeuble told parliament Friday that private investors will have to help with a new financial aid package for Greece. Schaeuble said European finance ministers are setting up a working group to find a “good solution” for the involvement of the private sector that the European Central Bank can support. He said […]

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Greek Anger Rises as Economy Teeters

Posted June 9th, 2011 at 11:35 am (UTC-5)
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Angry Greeks are taking to the streets, demanding the government back off plans to save the economy by privatizing their government jobs. Thousands of workers from state-run companies walked off their jobs Thursday, protesting in downtown Athens ahead of a key Cabinet meeting. Prime Minister George Papandreou and his ministers are to approve new austerity […]

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Greek Workers Protest More Austerity Measures

Posted June 9th, 2011 at 5:00 am (UTC-5)
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State workers in Greece have called a strike Thursday to protest government plans to privatize their jobs as part of an international bailout agreement. The work stoppage was called for the same day Prime Minister George Papandreou and his cabinet are set to meet to approve new austerity measures through 2015 that include higher taxes. […]

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