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Troika Says Reduce Public Sector or Go Bankrupt

 Greece's creditors have firmly asked the government to lay off 100,000 civil servants by 2015, with 50,000 to be shifted to «εφεδρεία» (a special...

No More Doubts Over Greece's Default

Greece is falling into a deeper dismay after more and more of its Eurozone partners are expressing their certainty over the former’s sovereign default. After...

Germany Prepares for Greek Insolvency‎

German Finance Minister Wolfgang Schäuble is making preparations for a Greek insolvency, according to newsweekly Der Spiegel. His officials are reported to be preparing for...

Germans Give Emphasis on Greece’s Solar Energy

According to Wolfgang Schäuble, the promotion of privatizations, reforms in labor relations and investments in the private sector are the cornerstone of development in Greece. Particular emphasis is given to solar energy, not...

Bundesbank Requests Volunteer Participation of Germany’s Private Banks

As Joachim Nagel, member of the Executive Board of the Bundesbank stated in the newspaper Suddeutsche Zeitung, ''The involvement of private banks in Greece's support plan should be completely voluntary.'' "The participation of the private sector itself is positive. However, it...

Tension High within Eurogroup as Greece Requires More Aid

A special Eurogroup meeting scheduled for tomorrow will feature Finance Ministers from the euro-zone.  They will discuss the tense situation concerning modalities, timeline and...

German Minister of Economics: “The Support Mechanism Will Stay For Three Years”

German newspaper Frankfurter Allgemeine Zeitung published an interview with the German Minister of Economics, Wolfgang Schäuble (CDU) entitled “The Support Mechanism will Expire, We Made...

'Schaeuble Continues to Be a Problem for Europe' S&D Group Head Pittella Says

Responding to the disappointing Eurogroup outcome on Greece, the Socialists and Democrats Group in the European Parliament on Tuesday directed stinging criticism at German...

German FinMin: Greece Must Implement Reforms or Leave Euro Zone

German Finance Minister Wolfgang Schaeuble on Wednesday brought back the Grexit issue by saying that unless Greece implements reforms it cannot stay in the...