austerity

Instead of providing stimulus for growth to Greece, its European creditors are forcing the country into renewed austerity that will last four decades, a US economist says. Writing in the Washington Post, Matt O'Brien, former senior associate editor at the...

The fact that the Greek government opened the controversial issue of the naming of the Former Yugoslav Republic of Macedonia (FYROM) at a time when creditors were pressuring Athens to implement reforms was suspicious from day one. Athens had agreed with creditors...

Striking workers, pensioners and students marched through central Athens on Wednesday in protest against a new wave austerity measures that will kick in after the country’s third international bailout expires this summer. Two separate rallies took place. The first was...

Greece faces widespread disruption on May 30 as a range of labor unions announce a 24-hour strike. The General Confederation of Greek Labor, which represents over 80 individual unions, will instruct its members to strike. They will be joined by...

As elderly Greeks face losing up to €350 ($416) per month when new pension cuts are implemented as of Jan. 1, 2019 a government minister has confirmed that pensions under €1,000 will also be included. Deputy Minister for Social Security Tasos Petropoulos...

A new tell-all book by former French leader Francois Hollande has claimed Greece's 2015 referendum on accepting harsh bailout conditions was won without the country's leader knowing what to do with the mandate it gave him. In his 400-page book...

Associated Press (AP) is reporting a senior EU official in Brussels saying Greece is close to exiting its bailout program. Speaking anonymously on Thursday ahead of a major Eurogroup meeting next week, the official told AP there was "a great willingness...

Greek workers have walked off their jobs for a 24-hour general strike that is shutting down  services across the country. Domestic flights and Athens transport were disrupted, ships remained docked for 24 hours, and some public services were shut down,...

Wolfgang Schäuble says he feels vindicated by the results of often painful reforms carried out in exchange for EU loans in Greece, Portugal, Ireland and Cyprus. In an interview with the Financial Times (FT); as he prepares to change jobs...

Wolfgang Schäuble; the all-powerful finance minister of Germany and staunch supporter of austerity in southern Europe and especially in Greece, is to leave his post after Sunday’s elections. Chancellor Angela Merkel’s Christian Democrats (CDU) announced that he will be nominated...