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Tsakanikas

Third Bailout Prospect Divides Greeks

German Finance Minister Wolfgang Schaeuble's public statements that Greece may need a third rescue package started a debate on the necessity and effects of additional aid to the country. The IMF estimated Greece needs between 8.25 and 10.5 billion euros...

Bad Loans Threaten Greek Banks

Under an onslaught of 63.6 billion euros in non-performing loans and many people unable to meet payments after three years of austerity measures, Greek banks said they’ve been left virtual-ly unable to lend. As default rates on mortgages approach 23...

Greeces Hopes OPAP Sale Speeds Privatizations

Greece Prime Minister Antonis Samaras said the sale of gambling monopoly OPAP shows that Greece is serious about making reforms as a condition of rescue aid.  The deal, which will give Czech-Greek consortium Emma Delta a 33 percent stake...

Greek Jobless Rate A Record 27.2%

Only days after Greek Prime Minister Antonis Samaras said that for the first time since austerity measures were imposed three years ago that more people were being hired than fired, the country’s statistics agency ELSTAT said unemployment hit another...

Greek Jobless Rate Threatens Government

Greece's record 27 unemployment rate - which some analysts said could soon hit 30 percent - could even undermine the government if social unrest increases because 60 percent of the jobless have been out of work for more than...

Greek Long-Term Jobless Rate At 60%

As the Greek government is frantically trying to create more jobs to reverse an unemployment rate of 26 percent, numbers from the Greek statistics agency ELSTAT show a more troubling problem: more than six out of every 10 jobless...

Greek Jobless Rate At 26%

Greece's unemployment rate climbed to 26 percent in the last quarter of 2012 from 24.8 percent in the previous three-month period, showing the depth of a continuing recession and how difficult the government's job will be to bring...