Greek Crisis

The Greek government plans to cut lump-sums paid to civil servants on retirement by more than a fifth, according to the civil servants’ union, which said it will resist the measure. The one-time pension payments are set to fall by...

The chief executive of Greece΄s privatization agency, Costas Mitropoulos, has resigned, two government officials told Reuters. The new conservative-led government has made reviving the long-delayed privatization drive a key part of its efforts to turn around the recession-hit economy, but...

German Finance Minister Wolfgang Schaeuble suggested the euro area could handle Greece dropping out, raising pressure on Greek political leaders struggling to form a government amid a rise in anti-bailout sentiment. “We have learned a lot in the last two...

The head of a party in Greece's new coalition government says the country's recession made it "almost impossible" for it to achieve the 11.5 billion euros in cuts over the next two years demanded by its rescue creditors. Socialist party...

A German lawmaker is suggesting giving holidaymakers a subsidy to visit Greece and other ailing southern European economies. Erwin Lotter of the Free Democrats says a government-sponsored vacation voucher would help boost the economies of the struggling countries, while helping...

Spain and Greece, currently the two main epicenters of the euro zone debt crisis, are facing bigger deficits than previously forecast amid feeble European growth and political disorder in Athens, the International Monetary Fund said Monday, The Wall Street...

Greece's prime minister Monday said the government would begin an immediate review of the country's bloated public sector with the goal of closing and merging state entities as part of its efforts to cut government spending and slash red...

Almost three-quarters of Greeks want Antonis Samaras’s coalition government to insist on a renegotiation of the terms of the country’s international loan agreement, an MRB poll showed. Of 1,011 people surveyed, 74 percent said the coalition should insist on discussing...

It is too early to say how Greece will meet its financing needs and discussions can only begin once a lenders' mission returns to Athens, two EU officials said on Saturday, but a senior policymaker has said there was...

In high-stakes deals on the Street, the side with the leverage usually demands "show me the money first, then we'll talk." But in the rarefied and much higher-stakes world of desperate sovereign borrowers and multilateral lenders of last resort...