Country Bailout, Austerity | featured news

Greeks vote for more economic pain


Over the course of five days, the Greek government -- led by the understated conservative Prime Minister Antonis Samaras -- overcame two high hurdles in a dash to qualify for the austerity program set out by the so-called troika, made up of the European Central Bank, the International Monetary Fund and the European Commission.


Big fat Greek strike: MPs and govt say no escaping austerity

Anti-Austerity Protest in Greece

Debt-ridden Greece enters yet another week of anti-austerity protests. The country risks coming to a standstill as the parliament votes on a fresh austerity package of cost cuts and tax hikes for a new cash injection from its international creditors. A 24-hour strike starting Monday is expected to unite hospital doctors, journalists, Metro, taxi and train drivers and other transport workers, reports RT's Peter Oliver from Athens.


Greece secures deal to lower debt, avoid default

Greece Bailout

Greece has successfully pushed through a deal to lower its debt burden and avoid defaulting on its outstanding bonds in the near future.


Eurozone approves new $173B bailout for Greece

Greece Bailout

Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including 130 billion euros or $173 billion in new financing.


Greece targets debt swap from March 8: government

Greece's cabinet agreed on Saturday to launch a debt swap for private creditors on March 8 with the aim of completing it by March 11, a government official said.


A Greek’s only hot-seller: tear gas masks

Shock was a common sentiment in the heart of Athens this week. Athinas Street, the colorful shopping mile in the Greek capital, is known for its lively fish and meat markets, where spice salesmen mix with traditional shoemakers and sidewalks are packed with commodities for sale.

Senh: Great read on how one merchant is dealing the Greek bailout. It's just bad.


Greek Political Leaders Commit to Austerity Deal

Antonis Samaras

The letters aim to satisfy one of the key demands set by Greece's international lenders, but other issues remained unresolved.


Some say Greek debt deal will make things worse

Latest austerity cuts approved as 100,000 take to the streets in protest; 93 buildings damaged in Athens.


Breakthrough on Austerity Clears Way for Greek Deal

George Papandreou

After days of talks, Greek political leaders reached a deal Thursday to support a package of harsh austerity measures demanded by Greece’s financial backers in return for a bailout.


Greece to miss deficit targets despite austerity

Greece to miss deficit targets despite austerity

Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.


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