Greece Should Default, Leave Eurozone, Roubini Writes in FT

Greece should begin an orderly default and leave the Eurozone, in order to break a “vicious cycle of insolvency, low competitiveness and ever deepening...

Greeks Gird for More “Blood and Tears” Economic Hits

With Greece still poised on the edge of bankruptcy and growing predictions the country will fail, Prime Minister George Papandreou said he will institute...

Venizelos: Recession Will Reach 5.5% This Year

This week will be critical, said Greek FinMin Evangelos Venizelos at the Economist conference, while he forecasted that recession will reach 5.5% in 2011. Greece...

IMF: Greece Needs “Additional Measures” To Cut Deficit

Greece΄s government will need to take "additional measures" to meet its budget targets, a senior International Monetary Fund official said Monday, adding that the...

Venizelos: Focus on Spending Cuts in 2012‎

Greece on Sunday pledged to take the tough decisions needed to avoid default but announced no new austerity measures to secure international bailout funds...

Dominique Strauss Kahn: Greece Unable To Pay Debt, Loss Unavoidable

The former International Monetary Fund's Managing Director, Dominique Strauss Kahn, Sunday said Greece is unable to pay its debt and its creditors will have...

Government Reduces University Funding by 90%

According to the last announcement of the government, there is weakness in funding the Greek Universities, while the Ministry of Finance has to pay...

Thieves Fond of Benzine!

The new trend in thievery is to steal benzine from vehicles in Crete. This seems to be a result of society dealing with great financial problems ...

German Economists Urge Government To Consider Greek Default

A group of 16 prominent German economics professors has signed a declaration urging the German government to take into consideration the possibility of a...

Labour Union Calls 24-Hour Strike on Oct.6‎

Greek civil servants on Friday announced plans for a new strike on October 6 against austerity cuts, adding that a final decision will be...

Venizelos to Hold Teleconference With Troika Sept 19

Officials from the European Union, the International Monetary Fund and the European Central Bank, known as the troika, were expected to return to Athens...

Fake Deficit Employed to Impose Harsh Austerity Measures

According to Zoe Georganta, Professor of the University of Macedonia and until recently member of the board of directors of the Hellenic Statistical Authority...

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