ECB
Economy
Samaras in Crisis Talks Over Budget
In an effort to convince his reluctant coalition partners to support a $17.45 billion spending cut and tax hike plan that is antithetical to their campaign promises to resist more austerity measures, Prime Minister Antonis Samaras has been holding...
Economy
Spiegel: Troika Seeks 150 New Greek Reforms
International auditors will demand that Greece carry out a further 150 reforms to its recession-battered economy, as it teeters on the edge of bankruptcy, German newsweekly Spiegel reported Sunday.
Citing an interim version of the findings of the troika of...
Economy
Tsipras Says More Austerity “Final Blow” for Greece
Greek Prime Minister Antonis Samaras is trying to persuade his reluctant coalition partners to go along with a $17.45 billion spending cut and tax hike plan, the major opposition party Coalition of the Radical Left (SYRIZA) leader Alexis Tsipras...
Economy
To Many, Greek Recession Mirrors 1930's Depression
It might not look like it in tony neighborhoods and at fancy restaurants where Greek politicians and the rich elite dine and live, but for many, Greece is in a Depression - with a capital D - not a...
Economy
Greece Eyes Cargo Tax On Shipping
Strapped for cash in a crushing economic crisis, Greece is planning to go after its vaunted nearly tax-free shipping industry with a cargo tax on merchant marine shipowners that the government said could bring in $258.5 million from 2013-16.
Greece’s...
Cyprus
Cyprus' Finance Minister May Quit in Bailout Protest
Cyprus' Finance Minister Vassos Shiarly is ready to step down if President Demetris Christofias does not sign a memorandum of agreement with international lenders to release a bailout needed to keep the economy from tanking, the newspaper Simerini reported.
He...
Economy
Not So Fast: Troika Says No Deal Yet
Greece’s international lenders have rebuffed Finance Minister Yiannis Stournaras’ declaration that Greece had concluded a deal with its international lenders on a $17.45 billion spending cut and tax hike plan needed to release a delayed $38.8 billion installment to...
Economy
Greek Reaches Deal With Troika, Two More Years
Less than a day after the partners in Greece’s coalition government objected to changes in labor rights as part of a pending $17.45 billion spending cut and tax hike plan pushed by Prime Minister Antonis Samaras, there has reportedly...
Economy
Germany Wants Greece to Cede Budget Control
As Greek Prime Minister Antonis Samaras tries to convince his reluctant coalition partners to go along with changes to labor rights – including the reported firing of 65,000 workers over the next three years – Germany has again raised...
Economy
Samaras Tries to Keep Coalition Intact
Greek Prime Minister Antonis Samaras’ uneasy coalition showed another crack on Oct. 23 when Democratic Left head Fotis Kouvelis said he would not go along with radical changes in labor rights included in a $17.45 billion spending cut and...