Economy
Economy
EU, Bank Mulling Greek Bailout Details
European Union officials and leaders of the euro-zone's central bank still haven't hammered out key details of a bailout of Greece, The Wall Street Journal reported Monday, two days before an important meeting to approve the next round of...
Economy
2012 Global Summit of Women to be Held in Athens
More than 1,000 women leaders in business, government and civil society will be meeting in Athens between May 31 and June 2nd within the framework of the 22nd Global Summit of Women 2012.
The "Global Summit of Women, Athens 2012"...
Economy
Greek Lawmakers Vote Austerity as Athens Burns
ATHENS – While anarchists warred on the streets with riot police and 40 fires lit up banks, cinemas, and businesses, the Greek Parliament approved more austerity measures designed to keep bringing in international aid to keep the debt-choked country...
Economy
Greek Parliament Passes Austerity Bill
Amid a growing public backlash, the Greek Parliament voted Sunday to approve a package of austerity reforms, marking a key step toward securing a second bailout for the debt-riddled nation.
Lawmakers voted 199-74 in favor of the cutbacks, despite strong...
Economy
Athens in Flames: Historic Cinemas, Cafes, Shops and Banks On Fire
Historic cinemas, cafes, shops and banks went up in flames in central Athens on Sunday as black-masked protesters fought Greek police outside parliament, while inside lawmakers looked set to defy the public rage by endorsing a new EU/IMF austerity...
Economy
Clashes Outside Greek Parliament Ahead of Austerity Vote
As thousands of demonstrators clashed with police outside on Sunday, Greece's parliament debated painful austerity measures the country must take in exchange for a multi-billion euro bailout and debt restructuring program.
The loan-for-austerity package that will be voted on at...
Economy
Papademos Tells Greeks: Austerity or Chaos
ATHENS – With Greece on the brink of default unless it approves new austerity measures that could deepen a recession now in its fifth year, interim Prime Minister Lucas Papademos told lawmakers, including a growing number of rebels who...
Economy
Cabinet Approves Debt Deal After PM Warns of 'Chaos'
The Greek cabinet approved a draft bill spelling out reforms required by the EU and the IMF on Friday, taking Athens closer to getting a new 130 billion-euro bailout after the prime minister warned the alternative was "catastrophe".
All eyes...
Economy
Papademos Says He Will Remove Dissenters Because Default Would Bring Misery
ATHENS – Facing a growing mutiny in his shaky coalition government against austerity measures demanded by international lenders in return for a second bailout to keep Greece from going bankrupt, interim Prime Minister Lucas Papademos has told any dissenters...
Economy
ASE: Nervous Breakdown in Athens
The involvement of the Eurogroup Thursday and overwhelming domestic political developments forced serious losses in the Athens Stock Exchange on Friday, with the General Index, however, maintaining a positive sign and the weekly "contact" with the 800 units.
The trading...
Economy
S&P:Greece Retroactive CAC Would Constitute Selective Default
Standard & Poor's Ratings Services said today that under its ratings criteria, application of retroactive "Collective Action Clauses" (CACs) affecting the timing or amount of debt service payments on outstanding Greek-law governed sovereign debt would constitute a selective default....
Economy
Greece Must Decide: In or Out of the Eurozone
ATHENS – With international lenders continuing to withhold aid until the Greek Parliament ratifies austerity measures agreed on by the country’s shaky coalition government, Finance Minister Evangelos Venizelos said the country now has to decide whether it wants to...
Cyprus
Canadian Firm Interested in Searching for Gold in Village Near Paphos
Canadian Northern Lion Gold Corp. is awaiting the corresponding approval by the Vancouver Stock Exchange to proceed with signing a six months agreement with six women from the village of Armino, in Paphos, Cyrpus.
The agreement will allow the Canadian...
Economy
Wolfgang Schaeuble Told MPs Greek Plan Short of Target
German Finance Minister Wolfgang Schaeuble told conservative lawmakers on Friday that existing Greek reform pledges would not bring its debt down to levels that are considered sustainable, sources who attended the meeting said.
"Schaeuble said the current plans would leave...
Economy
Samaras on Bailout Deal: Elections Are Now Imperative
New Democracy party leader Antonis Samaras emphasised on Thursday evening that "the country never had a greater need for elections than it has today."
Speaking during a nationally televised address, Samaras noted that "we struggled to avert a worse recession...