Economy

Where PPC cuts electricity, the “Veria Citizens-Social Solidarity” rushes to help the ones in need… They are called the Robin Hood of PPC. A team of about 20 unknown activists are reconnecting the electrical power in homes of the city...

Athens Stocks recorded heavy losses on Monday, in the wake of European Union Summit and amid feverish processes regarding the haircut on Greek bonds. Banking index ended just above new lows, with intraday losses of 17.32% at 310.51 units. On the...

Luxembourg’s Jean-Claude Juncker, who leads the group of euro-area finance ministers, said talks on private sector involvement in a second aid package for Greece are focusing on losses of as much as 60 percent for bondholders. “Private investors, the banks,...

The head of the task force for Greece will visit Athens Tuesday and Wednesday, the European Commission said Monday. Horst Reichenbach will meet the country΄s Finance Minister Evangelos Venizelos, as well as an adviser to the prime minister, the commission...

Chinese executives arrived on Sunday in Athens to strengthen the economic cooperation between Greece and China. Besides the Memorandum of Understanding, the large business delegation led by president of Chinese parliament Jia Qinglin and Commerce Secretary Zhong Shan would...

The debate about the haircut of Greek debt has a new dimension, as a large proportion of banks involved in the negotiations expressed the view that the policymakers’ threat of a haircut by 60% would happen without the willingness...

ATHENS – Protests didn't work. Riots didn't work. Strikes didn't work either, but Greek workers say they’ll walk off their jobs again this week anyway, fed up with another round of austerity measures they said have crippled their present and destroyed their future. Although garbage collectors...

Any solution for further reducing Greece's debt burden must be voluntary, a Greek government official said on Sunday following a meeting of EU leaders to try to find a solution to the region's debt crisis. Private sector holders of Greek...

Bundesbank President Jens Weidmann said a haircut for Greece would not resolve the country's debt problems and could in fact be "dangerous" if it led to a relaxation in debt-cutting efforts. "A haircut is not an cure-all," Weidmann told Sunday's...

There’s something noticeably ironic about the fact that the current European crisis began in Greece[...]

BRUSSELS - Officials of the Eurozone, the 17 countries who use the euro as a currency, have confirmed that banks and investors in Greece will lost at least half their money even as speculation built they could lose everything. Eurogroup...

Prime Minister George Papandreou is scheduled to meet European Commission President Jose Manuel Barroso later Saturday ahead of an E.U. leaders summit Sunday, a spokesman from his office in Athens said. European finance ministers and leaders are holding a series...

The euro zone is working on a "July 21-plus" package for Greece, that country's finance minister said on Saturday, referring to the July decision by euro zone leaders on a second Greek bailout package. Greek Finance Minister Evangelos Venizelos told...

The European Commission, European Central Bank and International Monetary Fund have reported on the sustainability of Greece's debt. Read the text of the report below: Greece: Debt Sustainability Analysis October 21, 2011 Since the fourth review, the situation in Greece has taken a...

According to the German daily newspaper Die Welt, the German government has not ruled out the possibility of postponing the EU summit planned for this Sunday. The summit had already been postponed from 17 October, while the EU, IMF and ECB...