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Greek Economy Loses 122B Euros

The era of austerity - brought on by generations of overspending - has caused Greece to lose nearly 50 percent of its Gross Domestic...

Italian PM Says Greek Bailout Flawed

Visiting Italian Prime Minister Enrico Letta said after a meeting in Athens with Prime Minister Antonis Samaras that the bailout program pout together by...

Greek Deficit Fell 1.62B Euros In June

The Greek state budget presented a big decrease of the deficit in June despite a big drop of 1.617 billion euros ($2.08 billion) in...

Lagarde: "I’m Impressed With Greece"

Greece can achieve a budget surplus by the end of the year, although there is still much work to be done on reforms, according...

Stournaras Disputes OECD forecast

Greek Finance Minister said the Paris-based Organisation for Economic Cooperation and Development (OECD) was wrong in a report which predicted the country's recession would...

Cyprus Girds For Deep Recession

Cyprus' international lenders expect that austerity measures will shrink the country's economy by a choking 8 percent this year and another 3 percent in...

Greece Slows Tax Refunds, Investments

With tax revenues in January falling 241 million euros ($323 million) short of expectations as Greeks continued to slow spending in the wake of...

Stournaras Fears Unrest Could Undo Reforms

With international aid beginning to pour in gradually, Greek Finance Minister Yiannis Stournaras said he’s worried that growing political and social unrest could undermine...

Greece May Beat 2012 Deficit Target

Greece may end 2012 with a better-than-targeted primary budget deficit gap, although it doesn't include sizeable interest payments, the newspaper Kathimerini newspaper reported, citing...