Economy

ATHENS – Facing a growing mutiny in his shaky coalition government against austerity measures demanded by international lenders in return for a second bailout to keep Greece from going bankrupt, interim Prime Minister Lucas Papademos has told any dissenters...

The involvement of the Eurogroup Thursday and overwhelming domestic political developments forced serious losses in the Athens Stock Exchange on Friday, with the General Index, however, maintaining a positive sign and the weekly "contact" with the 800 units. The trading...

Standard & Poor's Ratings Services said today that under its ratings criteria, application of retroactive "Collective Action Clauses" (CACs) affecting the timing or amount of debt service payments on outstanding Greek-law governed sovereign debt would constitute a selective default....

ATHENS – With international lenders continuing to withhold aid until the Greek Parliament ratifies austerity measures agreed on by the country’s shaky coalition government, Finance Minister Evangelos Venizelos said the country now has to decide whether it wants to...

Canadian Northern Lion Gold Corp. is awaiting the corresponding approval by the Vancouver Stock Exchange to proceed with signing a six months agreement with six women from the village of Armino, in Paphos, Cyrpus. The agreement will allow the Canadian...

German Finance Minister Wolfgang Schaeuble told conservative lawmakers on Friday that existing Greek reform pledges would not bring its debt down to levels that are considered sustainable, sources who attended the meeting said. "Schaeuble said the current plans would leave...

New Democracy party leader Antonis Samaras emphasised on Thursday evening that "the country never had a greater need for elections than it has today." Speaking during a nationally televised address, Samaras noted that "we struggled to avert a worse recession...

ATHENS - After divisive talks, Greece’s coalition government has agreed on a plan to make more deep spending cuts to stave off default, but the deal means although pensioners could be spared, the country’s already-wracked health care system will...

The chairman of the meeting of eurozone finance ministers says Greece has to identify an extra €325 million in savings for 2012 in order meet the terms of a much-needed bailout. Jean-Claude Juncker said Thursday the Greek parliament will also...

Eurozone finance ministers warned Greece on Thursday that they are not yet ready to unlock a new debt bailout despite an agreement between Greek political leaders on new austerity cuts. Luxembourg prime minister, Jean-Claude Juncker, arriving to chair Brussels talks...

With their brand new second video message, “Anonymous” strikes again; this time by directly addressing the Greek people. After they had recently hacked into the website of the Ministry of Justice and caused some turmoil, “Anonymous” retaliated in a 10...

The agreement reached by Greek political leaders to win the nation's second bailout may be "analytically questionable," Pacific Investment Management Co.'s Mohamed A. El-Erian said. "It is very unlikely to lead to growth, jobs, financial stability and new investments," El-Erian,...

Greek Prime Minister Lucas Papademos and his coalition partners have struck a deal on new cuts demanded by creditors to secure a vital €130 billion bailout. A spokeswoman for the prime minister's office says the agreement with the majority Socialists...

Greece’s unemployment rate rose in November to a record high, while declining industrial production in December indicated a deepening economic contraction in the final quarter. The unemployment rate rose to 20.9 percent, from 18.2 percent the previous month, the Hellenic...

Finance Minister Evangelos Venizelos said there is still uncertainty on the terms of a 130 billion-euro ($172 billion) rescue package for his country ahead of a meeting of euro area finance ministers today. "There are issues outstanding that must be...