ECB
Economy
Back to the Drach? Papandreou May Let Voters Decide
ATHENS – As pressure builds on Greece to default, Prime Minister George Papandreou is reportedly mulling a referendum to let the people decide whether to give up the fight to stay in the Eurozone, abandon the euro, and return...
Economy
Another EU Task Force Descends on Greece
ATHENS – Already under the thumb of the EU-IMF-European Central Bank Troika which is requiring Greek Prime Minister George Papandreou to keep cutting workers pay, pensioners benefits and raising taxes as a condition of getting rescue loans to keep...
Economy
EU Wants Greek Private Sector Workers Pay Cut Too
ATHENS – With public workers set for another barrage of pay cuts – teachers already bracing for a retroactive salary slash of 380 euros, or $525 per month – European Economic and Monetary Affairs Commissioner Olli Rehn has proposed...
Economy
Greek Crisis Threatens Eurozone Survival
ATHENS – As speculation intensified that Greece would default, the crisis that has gripped the country for 18 months, setting off protests and riots over government-imposed pay cuts, tax hikes and slashed pensions to satisfy international lenders putting up...
Economy
Greece Stops Paying Bills
Strapped for cash and facing the prospect of being unable to pay workers without the next installment of rescue loans from international lenders, Greece has frozen payments to its creditors, but will keep sending out checks for salaries and...
Economy
Courts Fine Tax Evaders $10 Billion Greece Hasn't Collected
ATHENS – Even as the government is trying to squeeze every last cent out of taxpayers, it has failed to collect some $10 billion owed by tax evaders who’ve been ordered by the courts to pay, official data from...