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Troika Extends Deadlines, Waits for Results of 'Social Dialogue'

The seven member EU-IMF Troika mission currently in Greece held a meeting with labour ministry officials on Saturday, after which they decided to extend...

Germans Remain Optimistic and Continue to Give Economic Advice to Greece

ATHENS – As German Foreign Minister Guido Westerwelle arrived in Greece on Jan. 15 for talks with political leaders of the debt-crushed and cash-starved...

Divide Emerges Between IMF and EU Over Failed Greek Austerity Measures

ATHENS – Some 21 months after Greece began to impose harsh pay cuts, tax hikes, slashed pensions and scores of thousands of layoffs of...

Greek Deficit Worsens, More Austerity and Pain Looms in the Future

ATHENS – Interim Prime Minister Lucas Papademos’ pledge that his coalition government will not hit weary Greeks with more austerity measures may fall by...

No Holiday for Greek Government: Make or Break Time

ATHENS – As the bad economic news keeps piling up for Greece - retail sales for this year were down 30 percent, and storeowners...

Cabinet Meeting To Discuss On Reduction Of Supplementary Pensions

Greek Labour Ministry and Troika postponed the discussion on critical issues of derail of pension funds’ finances and new interventions until January. Troika’s officials stressed...

Venizelos Talks Tough to Would-Be PASOK Rebels

ATHENS – Finance Minister Evangelos Venizelos reiterated that Greece will do whatever it takes, including following the demands of the European Union-International Monetary Fund-European...

Troika Presses For Additional Measures

Troika requests additional measures of €2 billion, accelerating privatization program and critical structural reforms, in order to finalize a positive assessment of Greek program. Greek...

EU Wants Greek Private Sector Workers Pay Cut Too

  ATHENS – With public workers set for another barrage of pay cuts – teachers already bracing for a retroactive salary slash of 380 euros,...