Troika

Unable to pay its bills and needing to recapitalize its banks, Cyprus will ask international lenders for an11 billion euros, or $14.2 billion bailout, the news agency Reuters reported, citing three sources with knowledge of the request. The country’s banks,...

Greece's efforts to clinch a deal with its international creditors on a package of cuts by the end of this week are under threat, with the government saying that a "fairly big" gap still separates the country from its...

International lenders are not relenting on demands that the Greek government push ahead with combined package of $17.45 billion in spending cuts and tax hikes, leading to further delays before it can be sent to Parliament and open the...

With a report showing Greece will suffer a sixth year of recession in 2013 because of harsh austerity measures, envoys from the Troika of international lenders putting up $325 billion in rescue monies reportedly rejected two billion euros ($2.58...

With the country’s economy still sinking, unemployment and social unrest rising and under pressure from his coalition partners and international lenders, Greek Prime Minister Antonis Samaras said he believes that he has brought Greece back from the brink of...

Greece’s uneasy coalition government has nearly reached agreement on all the measures in a $14.6 billion spending cut plan, one of its members said, without revealing what they were. Emerging from a meeting with Prime Minister and New Democracy Conservative...

Some 50,000 Greeks worn out by austerity measures marched through central Athens on Sept. 26 in the first general strike since the country's coalition government was formed in June, as Prime Minister Antonis Samaras worked to finalize another $14.6...

Greece's deep recession has forced almost a third of businesses in Athens commercial district to close down as shrinking incomes and frequent strikes have driven away customers and harsh austerity measures have made many slow spending almost to a...

Frustrated by relentless demands from international lenders that Greece make even deeper pay cuts, tax hikes and slashed pensions, Finance Minister Yiannis Stournaras threatened to resign during an intense meeting, the New York Times reported. Prime Minister Antonis Samaras, under...

Greek Parliament President Evangelos Meimarakis, handpicked for the position by Prime Minister and New Democracy Conservative leader Antonis Samaras, said he will suspend himself from his duties during a reported investigation into alleged corruption by the country's financial crimes...