IMF
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[...]
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
Greeks Gird for More “Blood and Tears” Economic Hits
With Greece still poised on the edge of bankruptcy and growing predictions the country will fail, Prime Minister George Papandreou said he will institute new deep cuts in public spending – another 20% pay cut for workers and a...
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...