Greece

Greece continued its flirtation with national bankruptcy Tuesday, successfully staving off a default on debts owed to the European Central Bank, The Wall Street Journal reported. But at the same time, more information dribbled out on the parlous stat ...

Daily Headline - global.abi.org - 08/15/2012 - 21:29 - 0 comments

Greece is seeking a two-year extension of its latest austerity programme aimed at improving the country’s debt sustainability and prospects for a return to growth, according to a document obtained by the Financial Times. Antonis Samaras, the centre-r ...

Daily Headline - global.abi.org - 08/14/2012 - 22:39 - 0 comments

Greece's unemployment rate rose to a record 23.1% in May, complicating Athens' efforts to complete deep cuts demanded by international creditors that may involve laying off thousands of public employees, The Wall Street Journal reported. Th ...

Daily Headline - global.abi.org - 08/09/2012 - 18:56 - 0 comments

Greece may have to place thousands of public workers in a special labor pool at reduced pay to help achieve as much as €4 billion ($4.95 billion) in spending cuts demanded by international creditors, a politically risky move for the fragile coalition gov ...

Daily Headline - global.abi.org - 08/07/2012 - 22:38 - 0 comments

The International Monetary Fund, facing discontent among its members about the huge sums it has lent to the euro zone, is pushing the currency bloc's governments to take steps to lighten the burden of the bailout loans they made to Athens, officials ...

Daily Headline - global.abi.org - 08/06/2012 - 22:58 - 0 comments

A political row has erupted in Athens after the former head of a big Greek state bank admitted to transferring €8m of personal savings abroad to buy a London property months before his Agricultural Bank headed towards insolvency, the Financial Times ...

Daily Headline - global.abi.org - 08/05/2012 - 22:27 - 0 comments

Greece's latest fiscal and reform pledges may be enough to convince international lenders weary after years of broken promises to keep Athens hooked to a 130 billion euro lifeline, but the battle to implement it will be epic, Reuters reported. Few q ...

Daily Headline - global.abi.org - 08/05/2012 - 22:27 - 0 comments

Greece's international creditors have called on Athens to provide more details on its €11.5 billion ($14.14 billion) austerity plan that is crucial to keeping the country's funding lines open, as Athens faced dwindling cash reserves, The Wall ...

Daily Headline - global.abi.org - 08/02/2012 - 23:36 - 0 comments

Greece’s three-party coalition has reached agreement on €11.5bn of spending cuts over the next two years after the socialist party leader dropped objections to further planned reductions in pensions and public sector wages, the Financial Times report ...

Daily Headline - global.abi.org - 08/01/2012 - 18:25 - 0 comments

Greek Prime Minister Antonis Samaras's allies are pushing for two more years to implement unpopular austerity cuts before they sign off on them, sources close to the parties said on Monday, potentially delaying a deal on the savings demanded by lend ...

Daily Headline - global.abi.org - 07/30/2012 - 21:54 - 0 comments