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Economy
Greece Will Miss Its Deficit Targets Again
ATHENS - Wracked by recession, Greece will not meet deficit targets imposed by international lenders as a condition of a $152 billion bailout designed to keep the country from going bankrupt, the Finance Ministry admitted.The deficit is expected to...
Economy
Greece’s Next Plan: Pay You Back in 100 Years
ATHENS - Struggling to pay back international investors who are demanding – and getting – usurious interest rates nearing 70 percent for two-bonds, Greece is reporting considering a new idea to pay them back – in the 22nd Century.
One...
Economy
Oct. 13 is D-Day (Decision, Not Default) for Greece
ATHENS - Greece will know on Oct. 13 whether international lenders will release an $11 billion loan installment needed to keep the country from going bust and unable to pay its workers and pensioners, German Finance Minister Wolfgang Schauble...
Economy
Venizelos’ Tax Shift Causes Confusion Over Receipts
ATHENS – Finance Minister Evangelos Venizelos, who has levied a series of taxes and penalties on workers, pensioners and the poor, said taxpayers will have to pay a penalty in 2012 unless they can produce receipts for their expenditures....
Economy
As Greeks Rage, Merkel Says Germany Backs a “Strong Greece”
ATHENS – As Prime Minister George Papandreou’s PASOK Socialist Members of Parliament unanimously supported an emergency property tax as part of crushing new austerity measures ordered by international lenders in return for money to keep Greece from going bankrupt,...
Economy
IMF Chief Lagarde Says Patience Thin on Greece
As inspectors for international lenders returned to Athens to determine whether to release an $11 billion loan installment needed to keep the country from going bust, International Monetary Fund chief Christine Lagarde said investors are weary of helping Greece. “If the Greeks do not want our advice[...]
Economy
Second Greek Bailout May Be In Jeopardy
As the drumbeat of default expectation grows in Athens, Europe and the United States, German Finance Minister Minister Wolfgang Schaeuble, whose country is footing the biggest part of a failed $152 billion bailout for Greece, said it will take...
Economy
Venizelos Says Greece “Scapegoat” But Will Survive Crisis
With the economic world holding its breath over fears that Greece will default, Finance Minister Evangelos Venizelos told an international audience of bankers in Washington, D.C. that his country[...]
Economy
In Washington, Venizelos Tries to Convince Skeptical World
Even while Greek Finance Minister Evangelos Venizelos was busy in Washington trying to persuade everyone that Greece will not default, although it is drowning in debt and misery over deep pay cuts, tax hikes and slashed pensions while tax...
Economy
Bad News for Banks: Greece May Not Pay Them
As Greece daily steps closer to defaulting on its loans, Finance Minister Evangelos Venizelos has[...]