Country Bailout, Austerity | featured news

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.

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

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'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.

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.

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

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

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 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.