iOS app Android app

Greece Debt Crisis

Trichet: Europe's Economy In Deepest Crisis Since World War II

AP | Posted 05.25.2011 | Business

BERLIN — The President of the European Central Bank is quoted as saying that he still sees Europe's economy in its deepest crisis since World Wa...

Volcker

bloomberg.com | Simon Clark | Posted 05.25.2011 | Business

May 14 (Bloomberg) -- Former Federal Reserve Chairman Paul Volcker said he's concerned that the euro area may break up after the Greek fiscal crisis t...

What In the World is Going On with Stocks?

Larry Gellman | Posted 05.25.2011 | Business
Larry Gellman

The stock market seemed to be in sync with the improving economy until Tuesday when, without warning, the bottom dropped out and full blown panic set in.

Weekly News Roundup: Muslims, Gays, Nazis and More!

Katie Halper | Posted 05.25.2011 | Comedy
Katie Halper

After obsessing over Muslim background of suspected Times Square bomber, media becomes enlightened and religiously tolerant, and overlooks fact that the man who helped foil bomb plot was Muslim.

Left, Right & Center: Economic Anxiety, the Oil Spill, and Newsweek

HuffPost Radio | Posted 05.25.2011 | Politics
HuffPost Radio

Greece, Spain, Portugal, Italy--debt is overpowering the EuroZone and having an impact on the U.S. as well. Wall Street's jitters and glitches aren't helping much. And Newsweek is up for sale!

Greek Debt Crisis: Fears Intensify That Crisis Will Hit U.S.

AP | CHRISTOPHER S. RUGABER | Posted 05.25.2011 | Business

WASHINGTON — The stock market's slump this week reflects a widespread concern among many economists that the European debt crisis could slow the...

Venezuela Is Not Greece

Mark Weisbrot | Posted 05.25.2011 | Business
Mark Weisbrot

Unlike Greece, Venezuela controls its own foreign exchange, monetary, and fiscal policies. It can use expansionary fiscal and monetary policy to stimulate the economy, and also exchange rate policy by letting the currency float.

Stocks PLUNGE On Greece Debt Worries, Dow Takes Enormous Dive

AP | TIM PARADIS | Posted 05.25.2011 | Business

NEW YORK — A computerized selloff possibly caused by a simple typographical error triggered one of the most turbulent days in Wall Street histor...

Greece: Is It the First Domino to Fall?

Dr. Behzad Mohit | Posted 05.25.2011 | Business
Dr. Behzad Mohit

The Grecian revolt may prove to be the forerunner of similar events in Spain, Portugal, and across Europe. Our own Tea Party activism may be an intuitive awakening of people who feel it in their gut that something is not quite right.

Desperate Greece Says Bailout Is Only Hope

AP | ELENA BECATOROS | Posted 05.25.2011 | Business

ATHENS, Greece — Greek lawmakers approved drastic austerity cuts Thursday needed to secure international rescue loans worth euro110 billion ($14...

How Bad Is It? Greece, Panic and the Crisis of Confidence

Zachary Karabell | Posted 05.25.2011 | Business
Zachary Karabell

The problems of Europe are real, and political. But I doubt the current crisis will lead to much less partying on Mykonos this summer.

Greeks Riot Over Debt Crisis, Try To Storm Parliament, Get tear Gassed

AP | ELENA BECATOROS | Posted 05.25.2011 | World

ATHENS, Greece — Rioting over harsh austerity measures left three people dead in a torched Athens bank and clouds of tear gas drifting past parl...

Greece Bailout 'Just The Beginning': Martin Wolf

ft.com | Martin Wolf | Posted 05.25.2011 | Business

Yet it is hard to believe that Greece can avoid debt restructuring. First, assume, for the moment, that all goes to plan. Assume, too, that Greece's a...

The End of Greece's Bacchanalia

Eric Margolis | Posted 05.25.2011 | World
Eric Margolis

The bouzouki music has stopped. Club Med's credit cards are maxed out. The German repo men are at the door.

Life in the Age of "Much Worse Than We Thought It Would Be"

Arianna Huffington | Posted 05.25.2011 | Business
Arianna Huffington

What was just a troubling oil spill a week ago is now, according to Interior Secretary Salazar, "potentially...very catastrophic." Has there ever been a crisis in the last decade that turned out to be better than we thought it was going to be? READ MORE The Unplug and Recharge Challenge: HuffPost Living and Health magazine are joining forces to help you de-stress, relax, and get your life back under control. Take the Unplug and Recharge Challenge and learn how to break your addiction to always being connected. READ MORE WATCH: Arianna Discusses The White House Correspondents’ Dinner on Morning Joe

Debt Crisis and Threat of Bankruptcy Encourages Europe To Create Greater Economic Reform

AP | DANIEL WOOLLS and COLLEEN BARRY | Posted 05.25.2011 | Business

MADRID — In the ashes of Europe's debt crisis, some see the seeds of long-term hope. That's because the threat of bankruptcy is forcing governm...

Baltic Countries Show What Greece May Look Forward to if it Follows EC/IMF Advice

Mark Weisbrot | Posted 05.25.2011 | World
Mark Weisbrot

This is a train going in the wrong direction, and once you go down this track there is no telling where the end will be. Greece - like Latvia and Estonia - will be at the mercy of external events to rescue its economy.

Left, Right & Center: The Oil Spill, Arizona's Immigration Law and Goldman Sachs' Hot Seat

HuffPost Radio | Posted 05.25.2011 | Politics
HuffPost Radio

Is Drill Baby Drill over now? Who will pay the political price of the oil spill: Dems or the GOP? That same question can be asked in light of the new Arizona immigration law...who wins, who loses?

George Papandreou, Greek Prime Minister, To Outline Needed Budget Cuts

AP | NICHOLAS PAPHITIS | Posted 05.25.2011 | Business

ATHENS, Greece — Facing a dire choice of additional pain or bankruptcy, Greece on Friday heralded drastic new cuts and tax increases to win resc...

Is the U.S. in Worse Fiscal Shape than Greece?

Laurence J. Kotlikoff | Posted 05.25.2011 | World
Laurence J. Kotlikoff

Greece's deficit is roughly 14 percent of GDP and its gross debt is about 115 percent of GDP. The U.S. (federal and state) deficit is roughly 12 per...

Casino Capitalism: Can It Be Contained?

Robert Guttman | Posted 05.25.2011 | Business
Robert Guttman

We may not be able to change the smugness and arrogance of the Goldman traders who testified before Congress but we certainly can pass tougher legislation that could put them in prison if they break the law.

Greece's Credit Rating Cut To Junk Status As Europe's Debt Crises Worsens

AP | NICHOLAS PAPHITIS and PAN PYLAS | Posted 05.25.2011 | Business

ATHENS — Greece was pushed to the brink of a financial abyss and started dragging another eurozone country – Portugal – down with it...

Left, Right & Center: The Greek Tragedy, Catholic Troubles, and SEC Porn

HuffPost Radio | Posted 05.25.2011 | Politics
HuffPost Radio

Obama's Wall Street speech only gently spanked the bankers. Is that enough? A Belgian bishop has resigned, admitting to engaging in sexual abuse. And now the SEC has its own crisis: PORN scandal!

Greece: Aid Available In Several Days

AP | ELENA BECATOROS | Posted 05.25.2011 | World

ATHENS, Greece — Hobbled by exorbitant borrowing costs, Greece triggered an emergency aid plan Friday to draw cash from the International Moneta...

Troubles in the EuroZone: Will the Contagion Affect the U.S.?

Marshall Auerback | Posted 05.25.2011 | World
Marshall Auerback

Should a government like Greece be allowed to default, the next realization could be that Greek depositors will take losses, and, therefore, the entire euro deposit insurance lose credibility.