Stournaras
Economy
Samaras Fails to Sell Coalition Partners on Big Cuts
Prime Minister Antonis Samaras, the New Democracy Conservative leader, met on Aug. 29 with the partners in his uneasy coalition but was unable to convince them how to make $14.16 billion in cuts for 2013-2014 demanded by international lenders...
Economy
Siemens Signs Deal With Greece, Settling Scandal Contracts
The German engineering giant Siemens has concluded an agreement with Greece, agreeing to pay an eventual $212.5 million to settle a scandal in which the company admitted paying nearly $512 million in bribes to Greek politicians in return for...
Economy
Juncker Wants Greece in Eurozone But No Reassurances
With growing indications that Greece may have to make even deeper cuts than the $14.16 billion demanded by international lenders, Eurozone chief Jean-Claude Juncker told Prime Minister Antonis Samaras that Greece should stay in the economic bloc, but said...
Economy
Greece Puts Moratorium on Spending, Except Salaries, Pensions
Under the gun to make cuts or find equivalent savings of $14.16 billion, the Greek government has put a hold on all spending, except for pensions and salaries, and will not pay its bills. The new coalition administration of...
Economy
Stournaras Wants Tax Cheats to Pay Overdue Fines
ATHENS – Struggling to find ways to cut $14.16 billion in spending and raise more revenues, Greece could realize as much as $1 billion just by collecting fines against convicted tax cheats who haven’t paid, Finance Minister Yiannis Stournaras...
Economy
Greece Set to Fire 40,000 Public Workers, Unions Vow Resistance
ATHENS – Under the gun from international lenders to make another $14.16 billion in cuts on top of crushing austerity measures that have hit workers, the elderly and the poor, Greece is set to put some 40,000 workers in...
Economy
Layoffs Coming for Thousands of Greek Workers
ATHENS – Saying that “the numbers don’t add up,” for Greece to make 11.5 billion euros ($14.16 billion) in cuts ordered by international lenders to keep lifeline loans coming, Finance Minister Yiannis Stournaras said the new coalition government is...
Economy
Desperate Greece Set to Raise Retirement Age to 66
ATHENS – Looking to slash government spending everywhere it can to satisfy the demands of international lenders, the coalition led by Prime Minister Antonis Samaras is mulling whether to force Greeks who were set to retire to work at...
Economy
Greek Coalition Partners Disagree, But Back More Austerity
ATHENS –After a tense showdown that threatened to break up an already uneasy coalition government, Greek Prime Minister Antonis Samaras said on Aug. 1 that he had convinced his reluctant partners, PASOK Socialist leader Evangelos Venizelos and Democratic Left...
Economy
Cash Running Out, Samaras Meets Troika for Urgent Budget Talks
ATHENS – With signs that his coalition government is fraying, Greek Prime Minister Antonis Samaras met for urgent talks on July 31 with officials from international lenders who are pressing him to make more cost-saving measures. Samaras was unable...