Greece
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Samaras Tells Schulz Greece OK

Greek Prime Minister, meeting with European Parliament President Martin Schulz in Brussels on Sept. 17 that, "Greece is coming out of an unprecedented crisis despite very difficult social hardships". He said all will be well one of these years, even...

Stournaras Says The Pressure's Off

Greek Finance Minister Yannis Stournaras, who is upbeat about the chances for a recovery and a return to the markets next year, has denied that Greece is being pressed by its international lenders to adopt more fiscal consolidation...

Kouvelis Sees Lower Restaurant VAT

While Greek Prime Minister Antonis Samaras reportedly nixed a lower Value Added Tax (VAT,) now at 23 percent, for restaurants, one of his coalition partners, Democratic Left (DIMAR) chief Fotis Kouvelis, said it's going to happen anyway, and is...

Anastasiades Wants More EU Aid For Cyprus

Rocked by news that he needs to find a way to generate another 6 billion euros ($7.8 billion) on top of 7 billion euros ($9.19) to trigger an international bailout, Cypriot  President Nicos Anastasiades said he’s going to ask...

Greece and Cyprus Leave Eurozone, Adopt Dralira

Saying they would no longer put up with being told what to do and to keep imposing pay cuts, tax hikes, slashed pensions and seizing bank accounts so that foreign bankers putting up bailout loans could be paid back,...

While Anastasiades Fiddled, Money Fled Cyprus

Delays and indecision by newly-elected Cypriot President Nicos Anastasiades' government allowed a huge outflow of cash from the island's banks even though they were closed and limits were placed on most withdrawals, the news agency Reuters reported. In banknotes at...

Cyprus-EU Talks Resume, Zero Hour Looms

Eurozone officials met in Brussels on March 24 with Cypriot officials as negotiations resumed on whether the island country's government could satisfy lender demands, including for a bank confiscation tax, to trigger release of a 10 billion euros ($13...

Madame Merkel's Rule Goes Viral

The Moscow Times depicted the crisis in Cyprus and the Eurozone with the image of a faux Renaissance painting with all the major protagonists, with the focus on German Chancellor Angela Merkel dressed as a tavern woman. The picture...

Greek Coalition Partners Disagree, But Back More Austerity

ATHENS –After a tense showdown that threatened to break up an already uneasy coalition government, Greek Prime Minister Antonis Samaras said on Aug. 1 that he had convinced his reluctant partners, PASOK Socialist leader Evangelos Venizelos and Democratic Left...

Samaras Ready to Bargain with The Troika

ATHENS – With inspectors from international lenders due on July 5, new Greek Prime Minister Antonis Samaras will reportedly try to convince them to accept a deal in which Greece would move more quickly on privatization and cutting the...