Greece

European policymakers are working on "last chance" options to bring Greece's debts down and keep it in the euro zone, with the ECB and national central banks looking at taking significant losses on the value of their bond holdings, officia ...

Daily Headline - global.abi.org - 07/29/2012 - 22:12 - 0 comments

Political leaders in Greece have agreed on most of the austerity measures demanded by its creditors and are now eyeing pension and wage cuts to find the final 1.5 billion euros of savings still needed, a source close to the talks said on Sunday, Reuters ...

Daily Headline - global.abi.org - 07/29/2012 - 22:14 - 0 comments

Greece may need a second debt restructuring to stay in the euro, a leading political ally of Chancellor Angela Merkel said. The comments by Norbert Barthle, the Christian Democratic Union’s parliamentary budget spokesman, are the first indication by a se ...

Daily Headline - global.abi.org - 07/25/2012 - 21:51 - 0 comments

Greece is unlikely to be able to pay what it owes and further debt restructuring is likely to be necessary, three EU officials said on Tuesday, a cost that would have to fall on the European Central Bank and euro zone governments. The officials said that ...

Daily Headline - global.abi.org - 07/24/2012 - 21:29 - 0 comments

Greece is in a "Great Depression" similar to the American one in the 1930s, the country's prime minister Antonis Samaras has told former US president Bill Clinton, the Irish Times reported. Mr Samaras was speaking before a team of Gree ...

Daily Headline - global.abi.org - 07/23/2012 - 21:21 - 0 comments

The International Monetary Fund's mission chief for Greece, Poul Thomsen, walked grim-faced into his first meeting with newly elected Prime Minister Antonis Samaras on July 5 wearing a black tie looking as if he was going to a funeral. Whether he wa ...

Daily Headline - global.abi.org - 07/22/2012 - 21:55 - 0 comments

Greek political leaders have identified two-thirds of the spending cuts demanded by international creditors as a condition for resuming loan disbursements, but they sounded a warning over rising poverty levels as the country’s five-year recession continu ...

Daily Headline - global.abi.org - 07/18/2012 - 22:41 - 0 comments

Greece is seeking extra money from its international creditors to cover a coming bond redemption in late August, as a deeper-than-expected recession drives the country's fiscal-consolidation program off course for 2012, The Wall Street Journal r ...

Daily Headline - global.abi.org - 07/17/2012 - 20:07 - 0 comments

Greece’s coalition government has stripped the bosses of the lossmaking state electricity producer of a monthly €3,500 allowance paid on top of their salaries, in a move signalling their intention to slash wasteful spending in the public sector, the Fi ...

Daily Headline - global.abi.org - 07/16/2012 - 19:53 - 0 comments

Greece's three-party coalition government will try to get the economy out of its deep recession by encouraging private investment and making privatizations its "highest priority," finance minister Yannis Stournaras said Saturday, the Assoc ...

Daily Headline - global.abi.org - 07/08/2012 - 17:40 - 0 comments