Spain
Economy
Greek Captain of Prestige Denies Spill Blame
Apostolos Magkouras, 77, captain of the tanker Prestige, which wrecked and spilled oil into the Mediterranean, causing environmental damage, has denied any responsibility for the accident, although he was charged with failing to properly check the tanker before its...
Economy
Stiglitz: Greece and Spain are "in Depression"
Greece and Spain are in “depression, not recession”, Nobel prize-winning economist Joseph Stiglitz said on Wednesday, blaming tough austerity measures for their downward economic spiral.
Stiglitz also maintained that the International Monetary Fund was “a little too optimistic” in its...
Cyprus
Package Bailout Deal for Greece, Cyprus, Spain
Eurozone authorities are preparing a broad, multiple-nation bailout package including a modified program for Greece, a second bailout for Spain and an initial program for Cyprus, Germany΄s Financial Times Deutschland reported over the weekend, citing Eurozone sources.
Fresh support measures...
Economy
ILO Sees Big Jump in EU Jobless if Greece Leaves Euro
In an interview given to the Munich-based newspaper Süddeutsche Zeitung, Ekkehard Ernst, a top economist for the Swiss-based International Labour Organization (ILO,) predicted that unemployment in the European Union, particularly the southern countries, would jump markedly if Greece leaves...
Economy
Over 5 Million Jobless Youths in EU; Greece, Spain at the Top
A new level of record unemployment was reached in the eurozone in July at 11.3%, the highest since the creation of the 17-member single European currency, while the percentage registered in the 27-member EU is 10.4%. The highest rate...
Economy
IMF: Spain, Greece Face Bigger Deficits than Previously Forecast
Spain and Greece, currently the two main epicenters of the euro zone debt crisis, are facing bigger deficits than previously forecast amid feeble European growth and political disorder in Athens, the International Monetary Fund said Monday, The Wall Street...
Economy
Extra Virgin Greek Style
According to a recent study done about olive oil in Greece, it said that Greece is the third biggest country in olive production, having 13 percent of international production along with Italy being at 40 percent and Spain at...
Economy
Drachma or Euro
One of the questions that is going through the minds of the citizens of Greece these days is, if Greece will return to the drachma currency or stay with the euro currency. The Japanese bank Nomura has calculated that...
Economy
Barroso: Pardoning of Greek Debt Won't Be Repeated!
This week's Eurozone agreement to remit 50% of the massive Greek state debt is "an absolutely unique and exceptional measure," stated EC President Jose Manuel Barroso.
In an interview for Portugese paper Expresso, the European Commission chief said that this...
Europe
Greek Film Wins Two Awards in Spain
The Greek film “Adikos Kosmos” (“Unfair World”) was honored on Saturday as Filippos Tsitos was named best director and Antonis Kafetzopoulos, best actor at Spain’s San Sebastian Film Festival.
Unfair World is about a police officer who wants to...