austerity

Prime Minister Tsipras Warns ''Dark Days of Austerity Could Come Back''

Greek Premier Alexis Tsipras made a rare appearance at the entrance of Maximos Mansion on Thursday in order to respond to the European Commission's remarks about his government's decision to implement several relief measures. Tsipras went in front of journalists...

Austerity Cuts for Civil Servants Are Legal, Says Greece's Top Court

The Council of State, Greece's highest court, ruled on Friday that the austerity cuts imposed on the country's civil servants during the years of the financial crisis were legal. The ruling became public on Monday afternoon. The decision is limited...

Opposition Leader Mitsotakis to Sponsor Bill Halting Tax-Free Threshold Reduction

The President of the New Democracy party and leader of the Greek opposition Kyriakos Mitsotakis gave an interview on Wednesday, announcing that he will sponsor a bill which will halt the already-voted upon reduction of the country's tax-free threshold. Speaking...

Austerity's Harsh Impact on Greece's Public Services Revealed

According to data released Thursday by the Hellenic Federation of Enterprises (SEV), significant declines in state funding for public services were recorded between 2015 and 2016. During this period, the Greek state invested just €3 million ($3.4 million) in...

IMF to Greece: Implement Agreed-Upon Cuts

The necessity of the implementation of cuts already agreed to by the Greek government, including pension cuts and the lowering of the tax-free income threshold, was reiterated by the International Monetary Fund’s spokesperson in Washington. Gerry Rice said that it...

Despite Government Celebrations, the Greek Crisis is Far from Over

It is official: Greece is exiting the third bailout program and Prime Minister Alexis Tsipras is calling on all citizens to celebrate the end of borrowing and applaud the country's ability to stand on its own feet after eight...

4 More Decades of Austerity Await Greece, US Economist Warns

Instead of providing stimulus for growth to Greece, its European creditors are forcing the country into renewed austerity that will last four decades, a US economist says. Writing in the Washington Post, Matt O'Brien, former senior associate editor at the...

OPINION: 'Macedonia' Issue is a Smokescreen for New Greek Austerity

The fact that the Greek government opened the controversial issue of the naming of the Former Yugoslav Republic of Macedonia (FYROM) at a time when creditors were pressuring Athens to implement reforms was suspicious from day one. Athens had agreed with creditors...

Greek Workers March Against Austerity in Athens (video)

Striking workers, pensioners and students marched through central Athens on Wednesday in protest against a new wave austerity measures that will kick in after the country’s third international bailout expires this summer. Two separate rallies took place. The first was...

Greece Faces More Strikes on May 30

Greece faces widespread disruption on May 30 as a range of labor unions announce a 24-hour strike. The General Confederation of Greek Labor, which represents over 80 individual unions, will instruct its members to strike. They will be joined by...