Economy

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...

ATHENS – Frustratingly slow talks among Greece’s leaders on whether to accept tough measures to keep international aid coming – which could push Greece into a Depression – or reject them – which could force an already-bankrupt country to...

In their meeting on the new austerity measures introduced by the Troika, the Greek bodies of lawyers, doctors and the Technical Chamber of Greece decided among others to boycott German products. In their announcement after the meeting, the three bodies...

Greece will likely not achieve sustainable debt levels with a 70 percent reduction in the value of bonds held by its private creditors, Standard & Poor's warned on Wednesday, putting pressure on the official sector also to take losses. Private-sector...

The euro zone needs a contingency plan to handle a potential Greek blow-up. The latest game of brinkmanship being played in Athens will probably end in a fudge – that’s how such games normally resolve themselves. But if it...

Tuesday's talks between Greece's prime minister and the country's private-sector creditors on a debt write-down plan were "constructive," a spokesman for the creditors said, adding that consultations between the sides will continue. Prime Minister Lucas Papademos met late Tuesday with...

Greece's Deputy Minister for Culture and Tourism, George Nikitiades, and the EU Commissioner for Industry, Antonio Tajani, have signed an agreement that will see Greece participate in the European project for tourism development in the off-season between South America...

Some 25,000 anti-austerity Greek protesters gathered outside the Greek Parliament during a general strike rally of all trade unions on Tuesday. The adverse weather conditions in Athens were not enough to turn the crowds away. A group of protesters set...

The General Index at Athens Stock Exchange closed above 800 units for the first time in three months. The banking index recorded a new 4-month high, from the composition of which stood out the double-digit percentage gains of Eurobank,...

Eurogroup chief Jean-Claude Juncker lent support to a Franco-German proposal to set aside bailout funds for Greece in a special account to cover interest payments on its massive debt. The Luxembourg prime minister told Berlin's RBB Inforadio that the idea,...

Greek leaders face crunch talks on Tuesday to secure a new international bailout and avoid a chaotic debt default, caught between EU demands that they accept painful reforms immediately and a national strike against more austerity. Prime Minister Lucas Papademos...

ATHENS – In a move that seems certain to stoke worker outrage just before a general strike and protests, Greece’s coalition government has reportedly agree to international lenders' demands to fire 15,000 public workers this year and cut the...

German Chancellor Angela Merkel told Greece on Monday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country's political leaders responded by delaying their decision for yet another day. Failure to...

The euro fell broadly on Monday on investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout with a deadline imminent, keeping alive the risk of a messy default which could...