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Greece Bailout

This Is The Sad State Of Greece's Economy, And Now Things May Get Worse

The Huffington Post | Charlotte Alfred | Posted 06.30.2015 | World

Greece's grueling austerity program lies at the heart of disagreements between the country's left-wing government and international creditors over bai...

Argentina Shows Greece There May Be Life After Default

Joseph E. Stiglitz | Posted 06.30.2015 | World
Joseph E. Stiglitz

Defaults are difficult. But even more so is austerity. The good news for Greece is that, as Argentina showed, there may be life after debt and default.

Europe's Attack on Greek Democracy

Joseph E. Stiglitz | Posted 06.29.2015 | World
Joseph E. Stiglitz

European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.

Don't Blink, Greece

Alex Andreou | Posted 06.29.2015 | World
Alex Andreou

ATHENS -- It seems extraordinary how averse we have become to democracy. How alien an honest leader, who is unwilling to sell the country out in exchange for continuing power, appears. Tsipras is what all leaders should actually be like. We have simply become so accustomed to seeing things through the warped prism of political expedience, that democracy as it should be appears twisted.

The Incompetent Greek Government, Not Its Creditors, Pushed the Economy off the Cliff

Pierpaolo Barbieri | Posted 06.29.2015 | World
Pierpaolo Barbieri

BUENOS AIRES -- Athens in 2015 will become like Buenos Aires in 2001. Greeks now face the prospect of prolonged capital controls, severe political unrest and eventually a confiscation of ordinary citizens' savings to finance a government's withdrawal from the world.

A Day In Line At Greece's ATMs

HuffPost Greece | Alexis Gaglias | Posted 06.29.2015 | World

ATHENS -- National Bank of Greece, Formionos street branch, around 1:30 in the afternoon. Nearly 25 people are in line waiting their turn at the ...

12 Devastating Consequences if Greece Returns to the Drachma

Dimitrios Giokas | Posted 06.28.2015 | World
Dimitrios Giokas

It's clear that we should not base our hopes on futile and dangerous solutions, such as returning to the drachma. Let us draw up a long-term plan for the next day, that will turn Greece into a modern, well-governed European country with a strong economy and liberated from the chronic pathologies that pester it.

European Leaders Reject Greece Bailout Extension Throwing Eurozone Into Crisis

AP | RAF CASERT and ELENA BECATOROS | Posted 06.27.2015 | World

ATHENS, Greece (AP) — Greece's parliament voted early Sunday in favor of Prime Minister Alexis Tsipras' motion to hold a July 5 referendum on credit...

Eurozone Crisis: Greece's Syriza Proves Unfit To Govern

Marco Vicenzino | Posted 06.26.2015 | World
Marco Vicenzino

For the past five months, the Tsipras government has presided over economic contraction, commercial paralysis, political polarization at home, diplomatic deadlock abroad and billions in withdrawals from Greek banks.

Greece's Bailout Money Doesn't Really End Up In Greece

The Huffington Post | Nick Robins-Early | Posted 06.26.2015 | World

Every week, we bring you one overlooked aspect of the stories that made news in recent days. You noticed the media forgot all about another story's ba...

Greece, Creditors Get Closer To Bailout Deal

AP | Posted 06.26.2015 | World

BRUSSELS (AP) — Greece and its creditors moved closer to clinching a deal this weekend that would allow the cash-strapped country avoid a default an...

Meeting On Greece Wraps Up Without Deal

AP | DEREK GATOPOULOS and RAF CASERT | Posted 06.26.2015 | World

BRUSSELS (AP) -- The bitter standoff between Greece and its international creditors was extended into the weekend, just days before Athens has to meet...

Greece And Creditors Push For Breakthrough In Bailout Talks Before Time Runs Out

Reuters | Posted 06.21.2015 | World

By Lefteris Papadimas and Jan Strupczewski ATHENS/BRUSSELS, June 21 (Reuters) - Greek Prime Minister Alexis Tsipras made a new offer ...

People Withdraw Billions From Greek Banks Amid Bankruptcy Fears

AP | NICHOLAS PAPHITIS and PAN PYLAS | Posted 06.19.2015 | World

ATHENS, Greece (AP) — With the clock running down on Greece's chances of avoiding a painful exit from the euro, the country got a temporary lifeline...

How the Financial Crisis is Choking Greek Businesses

Alexandros Klossas | Posted 06.18.2015 | World
Alexandros Klossas

As the Greek government and its creditors continue negotiations over the country's debt, the lack of liquidity has turned the financial situation for many of the nation's companies increasingly dire and frozen both the private sector and the domestic market.

Greeks Are Just Trying to Stay Alive

Jeffrey Sachs | Posted 06.17.2015 | World
Jeffrey Sachs

PARIS -- Europe's demands -- ostensibly aimed at ensuring that Greece can service its foreign debt -- are petulant, naive and fundamentally self-destructive. In rejecting them, the Greeks are not playing games; they are trying to stay alive. The Greek government is right to have drawn the line. It has a responsibility to its citizens. The real choice, after all, lies not with Greece, but with Europe.

Greece Has Made Tough Choices. Now It's the IMF's Turn.

James K. Galbraith | Posted 06.17.2015 | World
James K. Galbraith

ATHENS -- The IMF and Greece's other creditors have assumed that massive fiscal contraction has only a temporary effect on economic activity, employment and taxes, and that slashing wages, pensions and public jobs has a magical effect on growth. This has proved false. Indeed, Greece's post-2010 adjustment led to economic disaster -- and the IMF's worst predictive failure ever.

Greek Prime Minister Sticks To Hard Line As Contagion Hits Euro Zone Bonds

Reuters | Posted 06.16.2015 | World

By Lefteris Papadimas and Erik Kirschbaum ATHENS/BERLIN, June 16 (Reuters) - Prime Minister Alexis Tsipras accused Greece's creditors...

Greece Threatens To Skip IMF Payment, Opening Way For Possible Default

Reuters | Posted 06.03.2015 | World

By Karolina Tagaris and Deepa Babington ATHENS, June 3 (Reuters) - Greece's international creditors signaled on Wednesday they were ready to compro...

Greece Puts Up Barriers To Prevent Euro Breakup

AP | Posted 05.25.2015 | World

ATHENS, Greece (AP) — Greece's government on Monday ruled out restricting access to bank accounts and the free movement of money if there is no brea...

Greece Says It Needs Bailout Deal By The End Of May

AP | DEREK GATOPOULOS and NICHOLAS PAPHITIS | Posted 05.18.2015 | World

ATHENS, Greece (AP) — Greek Finance Minister Yanis Varoufakis said Monday that he expects an agreement with bailout creditors within the next week, ...

Talks Between Greece And Its Creditors Appear To Be Back On Track

AP | Posted 05.11.2015 | World

BRUSSELS (AP) — Greece may have only a couple of weeks left before it faces real problems meeting its financial commitments, the country's finance m...

Greece Will Rehire Cleaning Ladies, School Guards Laid Off Under Austerity

Reuters | Posted 05.07.2015 | World

ATHENS, May 7 (Reuters) - Greece's parliament passed a law on Thursday paving the way for the government to rehire about 4,000 public sector workers...

Greece Makes IMF Payment But Another, Bigger One Looms

AP | ELENA BECATOROS and RAF CASERT | Posted 05.06.2015 | World

ATHENS, Greece (AP) — Cash-strapped Greece scraped together a 200 million-euro ($222 million) repayment to the International Monetary Fund on Wednes...

Greece Battles To Avert Catastrophic Funding Crunch

Reuters | Posted 05.05.2015 | World

By Lefteris Papadimas and Jan Strupczewski ATHENS/BRUSSELS, May 5 (Reuters) - Greece blew hot and cold with its euro zone partners on Tuesday as it...