New Democracy
Economy
Greek Lawmakers Vote Austerity as Athens Burns
ATHENS – While anarchists warred on the streets with riot police and 40 fires lit up banks, cinemas, and businesses, the Greek Parliament approved more austerity measures designed to keep bringing in international aid to keep the debt-choked country...
Economy
Papademos Tells Greeks: Austerity or Chaos
ATHENS – With Greece on the brink of default unless it approves new austerity measures that could deepen a recession now in its fifth year, interim Prime Minister Lucas Papademos told lawmakers, including a growing number of rebels who...
Economy
Greek Pensions Saved But Minimum Wage, Health and Defense Hit Hard
ATHENS - After divisive talks, Greece’s coalition government has agreed on a plan to make more deep spending cuts to stave off default, but the deal means although pensioners could be spared, the country’s already-wracked health care system will...
Economy
Greece Gives In, Will Fire 15,000 and Slash Minimum Wage
ATHENS – In a move that seems certain to stoke worker outrage just before a general strike and protests, Greece’s coalition government has reportedly agree to international lenders' demands to fire 15,000 public workers this year and cut the...
Economy
With Greece on “Razor’s Edge”, Lenders Insist: Comply or Default
ATHENS – As Interim Prime Minister Lucas Papademos tried to keep leaders of his coalition together in a desperate attempt to win a consensus on reforms needed to keep international aid coming, the government was told it has no...
Economy
Greece Debt Reduction Deal Nears, but Second Needed
ATHENS – Just as Greece is seeking a second bailout to keep its economy from failing and defaulting on its loans under the weight of a staggering $460 billion debt - $41,818 for every man, woman and child in...
Economy
Loverdos Bows Out of PASOK Race and Backs Venizelos
ATHENS – With the PASOK Socialist party imploding into near-nothingness and beset by infighting over who should be its new leader when former Prime Minister George Papandreou steps aside, just before new elections for Prime Minister are held, Health...
Economy
Greeks Including Venizelos Reject Idea of EU Budget Czar for Greece
ATHENS – Starting with Finance Minister Evangelos Venizelos, whose position effectively would become moot, Greek officials said they will not go along with a proposal by Germany for the European Union to appoint a budget commissioner to oversee Greece’s...
Economy
Papandreou Fiddles While PASOK Disintegrates
ATHENS – While former Prime Minister George Papandreou was in Costa Rica addressing the Socialist International conference as its leader, the PASOK party he still heads – if only for a while and under constant pressure to quit –...
Economy
New Troika Demands: Firings, Pay Cuts, Slashed Health and Defense Spending
ATHENS – There just seems to be no good news for Greeks these days. Even as a coalition government led by former European Central Bank (ECB) Vice-President Lucas Papademos has stalled in talks to get a second bailout to...