IMF

Greece needs to drastically reduce its bloated public sector and keep administering more reforms to get out from under its crushing economic crisis, Former Prime Minister Constantinos Mitsotakis, speaking at the launch of a publication about his time in...

Despite tax revenues falling far short of expectations as austerity measures have cut deep into the disposable income of Greeks who have responded by curtailing spending drastically – and with a record 27 percent unemployment – Bank of Greece...

As Cypriots headed to the polls on Feb. 24 to elect a new President in a run-off between the frontrunner, Conservative Nicos Anastasiades and the Communist-backed Stavros Malas, the cost of a bailout to save the island's economy from...

After international lenders rejected a plan to let Greeks with undeclared income abroad return the money to Greece and pay only an 8 percent penalty, the government has now devised another scheme: giving the tax cheats incentive deposit their...

Enraged by more coming pay cuts, tax hikes and slashed pensions, an estimated 60,000 people converged on the center of Athens on Feb. 21 during a 24-hour general strike that shut down services. Ferries stayed in port, schools closed, public...

With more evidence that austerity measures demanded by international lenders in return for bailout loans have backfired and made Greece’s economy worse, President Karolos Papoulias said he fears the government’s squeezing of taxpayers will blow up in the country’s...

Concerned that his ministers are reacting too slowly to implement reforms demanded by international lenders, Greek Prime Minister Antonis Samaras is reportedly considering replacing some of them, the newspaper Kathimerini reported. With tax revenues falling far short of expectations despite...

After already guaranteeing Greece would begin an economic recovery by the end of the year, Finance Minister Yiannis Stournaras now has promised that despite disappointing tax revenue figures that there will be no more austerity measures put on beleaguered...

Coming on the heels of news that the country’s unemployment rate hit a record 27 percent, the Greek government got more bad news: the economy shrank 6 percent in the fourth quarter of 2012, according to the Hellenic Hellenic...

Frustrated with three years of delays and foot-dragging, and as record unemployment has hit the private sector, Greece’s international lenders are making a new push to force the government to start laying off thousands of needless public workers. The Troika...