Troika

The European Union and International Monetary Fund, who, along with the European Central Bank, make up Greece's Troika of lenders of last resort, have issued a report damning the country's tax collection system as broken. To indicate the size of...

Following a report from Greece’s creditors that shows tax collections are far off course despite big tax hikes, the International Monetary Fund has warned that unless revenues rise and tax cheats are caught that the government will be forced...

Inspectors from the Troika of Greece's international lenders will return to Athens next week as the uneasy coalition governments they will demand a picked-up pace of layoffs and firings to reduce the public workforce by 25,000 this year. Worried about...

Greece’s neo-Nazi Golden Dawn party, which has actively been recruiting high schoolers to indoctrinate them, has been giving what it calls “national awareness” lessons to elementary school students aged 6-10 to teach them “Greek ideals,” its officials have admitted. On...

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...

With two bailouts and three years of austerity measures failing to right Greece's faltering economy, Klaus Regling, Chief Executive officer of the European Financial Stability Facility (EFSF) says the country will need more time before reforms work but he...

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...