Troika
Economy
Austerity Budget Done, Greece Waits on EU
Having done its job – approving a $17.45 billion spending cut and tax hike plan and an austerity budget, Greece is now waiting for its international lenders to hand over a long-delayed $38.8 billion installment in return as promised....
Economy
Greece May Waive 25 Euros Hospital Fee
One of the most onerous measures in a $17.45 billion spending cut and tax hike plan that Prime Minister Antonis Samaras narrowly ushered through a divisive Parliament – a 25 euros ($31.77) entry fee to be seen at a...
Economy
Greece Shrugs Off EU Loan Delay
Greece is downplaying reports that the Eurozone will not act at a Nov. 12 meeting of finance ministers to disburse a long-delayed $38.8 billion loan (31.5 billion euros) installment despite approval by the Greek Parliament of a contentious $17.45...
Economy
Two Greeks in Troika Talks With Cyprus
Two Greeks are going to be included in the delegation of the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) which is negotiating with Cyprus over the size and conditions the island needs to right its struggling...
Economy
Greece Seeks Loans to Pay Loans
Greece is living on borrowed money – at high interest rates – until its international lenders release a $38.8 billion loan, and will have to borrow money on Nov. 13 to pay previous loans until the money is disbursed.
Despite...
Economy
N.Y. Times Says Greece Drank Hemlock
In a scorching editorial, the New York Times has declared that the new $17.45 billion spending cut and tax hike plan narrowly approved by the Greek Parliament was a bow to international lenders who demanded austerity the newspaper said...
Economy
The Numbers Don't Add Up for Greece
Greek Prime Minister Antonis Samaras’ declaration that a $17.45 billion spending cut and tax hike plan narrowly approved by the Parliament would save Greece from bankruptcy and an exit from the Eurozone don’t match up other statistics that show...
Economy
Greek Jobless Rate Hits Record 25.4%
As the Greek Parliament was approving a $17.45 billion spending cut and tax hike plan – exempting its own employees - the country’s unemployment rate rose for the 39th consecutive month to a record high of 25.4 percent, showing...
Economy
Greek Parliament OK's Harsh New Austerity Plan
Following a day of peaceful protests followed by violent confrontations between anarchists and riot police right outside, the Greek Parliament, in a dramatic post-midnight vote on Nov. 8, narrowly approved a $17.45 billion spending cut and tax hike plan...
Business
Fearing Cuts, 45 Bank of Greece Execs Quit
With their pay set to be deeply cut, 45 veteran workers at the Bank of Greece have resigned en masse, illustrating the deep division in the country as the Parliament was set to vote on a $17.45 billion spending...