Troika

With more evidence that austerity measures demanded by international lenders in return for bailout loans have backfired and made Greece’s economy worse, President Karolos Papoulias said he fears the government’s squeezing of taxpayers will blow up in the country’s...

Crushed between soaring tax rates and the loss of value on their properties, thousands of Greek commercial building owners are bleeding money and can't find tenants, even at reduced rents, leading to a vacancy rate of some 30 percent....

Concerned that his ministers are reacting too slowly to implement reforms demanded by international lenders, Greek Prime Minister Antonis Samaras is reportedly considering replacing some of them, the newspaper Kathimerini reported. With tax revenues falling far short of expectations despite...

After already guaranteeing Greece would begin an economic recovery by the end of the year, Finance Minister Yiannis Stournaras now has promised that despite disappointing tax revenue figures that there will be no more austerity measures put on beleaguered...

Coming on the heels of news that the country’s unemployment rate hit a record 27 percent, the Greek government got more bad news: the economy shrank 6 percent in the fourth quarter of 2012, according to the Hellenic Hellenic...

Frustrated with three years of delays and foot-dragging, and as record unemployment has hit the private sector, Greece’s international lenders are making a new push to force the government to start laying off thousands of needless public workers. The Troika...

Greece’s jobless rate hit a new record 27 percent in November, 2012 – some 61.7 percent for those under 25 – as statistics showed the economy shrank by 6 percent in the last quarter of the year, a double...

Pushed hard by international lenders to speed the pace of privatizations and selling off state lands, the Greek government has instead submitted to Parliament an amendment that would allow investors to lease islands instead of purchasing them. The proposal also...

Having crushed workers strikes with riot police, Greek Prime Minister Antonis Samaras wants to make it tougher for workers to walk off the job and is setting his sights on reducing Greece’s hugely redundant civil servant sector. Under continued pressure...

A European Central Bank (ECB) Executive Board member, Jorg Asmussen, said it's critical for the stability of the Eurozone to finalize a bailout deal for Cyprus' faltering economy by the end of March, a month after the country's Presidential...