Greek Crisis

Every step Greece takes to shore up its finances seems to make it harder for Athens to make the numbers add up in the long-term, especially when it comes to its spiraling debt. Monday΄s 2013 budget plan contained some positive...

Greece's brutal recession is set to extend into a sixth year in 2013, when the economy will contract by another 3.8 per cent, according to forecasts in the draft budget submitted to Parliament on Monday. This year's recession will see...

Greece's economy is expected to contract by more than expected in 2013, in its sixth year of recession, according to a draft budget the government will submit to parliament Monday, under the weight of the next round of painful...

France's Credit Agricole (CAGR.PA) is expected to pick Alpha Bank (ACBr.AT) as the preferred bidder for its ailing Greek unit Emporiki Bank, a banking source close to the talks said on Sunday. "They picked Alpha as the preferred bidder," the...

The International Monetary Fund wants to assemble a pool of German pensioners with finance expertise to help Greece establish a functioning financial system, it was reported on Saturday. The business magazine Wirtschaftswoche reported that IMF Chief Christine Lagarde is hoping...

Greece should be given more time to reform its economy and must not be thrown out of the euro zone, said Peer Steinbrueck, the man hoping to oust Angela Merkel as Germany's chancellor next year. Steinbrueck, named by the main...

The island of Pezonisi, also known as Nisi ton Oneiron (Island of Dreams), is set to become the first island to be leased to the private sector for tourist development following a decision by the Eretria municipality, the newspaperKathimerini...

Greek power workers Friday announced plans to begin rolling 48-hour strikes as early as next week to protest the new austerity measures the government is demanding from its increasingly restive population. In the past such strikes have led to rotating...

Disabled Greeks and police unionists continued anti-austerity protests in Athens on Sept. 27, as leaders of the three-party coalition government reached a preliminary deal on $14.6 billion of painful budget cuts for 2013-2014 to counter the debt crisis. Chanting slogans...

Greece's main left-wing opposition leader Alexis Tsipras called Thursday for a one-off international conference to write off Greek debt similar to a 1953 London deal on German war reparations. Tsipras made the call during a press conference at the European...