Greece
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Angela Merkel

Papandreou Changes His Mind, Refuses to Step Down as PASOK Leader

ATHENS – PASOK Socialist leader George Papandreou, who had promised to step down so that his party could have a new leader and candidate for Prime Minister in elections scheduled for April, said he won’t give up just yet...

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 public workers in a desperate attempt to keep from defaulting on loans, although it is...

Merkel Says Greek Deal Needed Before Other Reforms

German Chancellor Angela says the euro zone’s top priority for the beginning of this year is to secure a second aid package for Greece. After meeting with the Italian Prime Minister Mario Monti in Berlin Merkel said the Greek...

Merkel and Sarkozy Urge Greece to Take Action as Default Risk Grows

ATHENS – Greece is nearing the cusp of defaulting on its loans and going under because its political leaders have failed to implement structural reforms as promised, a memo from the International Monetary Fund has warned, leading French President...

Merkel Warns on Second Greek Aid Package

German Chancellor Angela Merkel said on Monday it would not be possible to pay out the next aid tranche to Greece without rapid progress on its second rescue package, including the voluntary restructuring of Greek debt held by its...

Greek Word Not Good Enough – Troika Wants it in Writing

ATHENS – Even before the dust settled down from the appointment of a new interim Prime Minister, Lucas Papademos, and a coalition cabinet charged with pushing through the Parliament a new bailout of $157 billion from international lenders and...