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Greek Debt

Austerity: 2011's Darling Becomes 2012's Pariah

Arianna Huffington | Posted 07.29.2012 | Business
Arianna Huffington

There's a new scarlet letter in town. Actually, it's the same letter -- "A" -- but it stands for a different word that's increasingly regarded as shameful: Austerity. The darling idea of 2010 and 2011 has become the pariah concept of 2012. And the evidence of profound change is all around, from France and Greece to Germany and -- gasp -- the Republican Party. The change, when it comes to the conventional wisdom on austerity, has come from a combination of public pressure and leadership: one pushing up from below, the other pressing down from above. None of this means that we should break out the Keynesian champagne any time soon. But it's clear the forces of austerity are in retreat. And that's a very good thing.

My Proud Bankrupt Greek Soul

Ioannis Pappos | Posted 07.29.2012 | Gay Voices
Ioannis Pappos

By 2010, I decided to spend some time writing in Greece. I had open accounts to settle there -- family, friends, closets. What I hadn't planned though was that it's hard to settle with the already bankrupt. I landed in a suicidal country itself deeply in the closet financially, morally, even sexually.

Traveling In Greece During The Crisis

Diya Luke | Posted 07.21.2012 | Travel
Diya Luke

As dire as the situation is, our family has not once felt unsafe during our two-week stay outside of Athens. 

Let Greece Do Debt Cold Turkey

Eric Margolis | Posted 07.18.2012 | World
Eric Margolis

What would happen to Greece if it quit the euro? Financial chaos, capital flight, riots and bank failures... maybe. But after the apocalypse, Greece would eventually revert to its 1960's status: a poor but proud nation living off tourism, shipping, agriculture and fishing.

Could a Greek Bank Run Go Global?

Laurence J. Kotlikoff | Posted 07.14.2012 | Business
Laurence J. Kotlikoff

If bank runs in Greece spread to Spain, Italy, Portugal, and Ireland, they will then spread to Belgium and France and from there to other parts of Europe and, potentially, even the U.S.

A Tax for Your Thoughts...

Maria Paravantes | Posted 06.19.2012 | World
Maria Paravantes

We've passed the audition and are now holding starring roles in Animal Farm Takes Greece -- a remake of George Orwell's foretelling allegorical tale penned 67 years ago!

Health and Work in the Age of Aging

Michael Hodin | Posted 06.06.2012 | Fifty
Michael Hodin

As life-spans routinely stretch into the 80s and 90s and as birth rates continue to drop to unprecedented lows, the importance of maintaining health as we age becomes even more crucial.

Death in Athens

Diana Farr Louis | Posted 06.05.2012 | World
Diana Farr Louis

A Greek pensioner, aged 77, brought a dramatic end to his life in Syntagma Square recently and shocked the nation. At least, I hope he did, for that was his intention.

Mark Gongloff

Papandreou Warns Of 'Vicious Circle' Of Austerity And Recession | Mark Gongloff | Posted 04.09.2012 | Business

NEW YORK -- Europe's austerity fever is creating a "vicious circle" of economic pain, former Greek Prime Minister George Papandreou said on Thursday -...

German Leader: 'Greece Now Has A Chance'

Reuters | Posted 05.30.2012 | Business

PRAGUE, March 31 (Reuters) - Greece has gone a long way on the path of reforms and now stands a chance to overcome its debt crisis but still faces m...

Bailout Approved

Reuters | Posted 05.14.2012 | Business

BRUSSELS, March 14 (Reuters) - Euro zone countries formally approved on Wednesday a second, 130 billion euro financing package for Greece that will ...

Greece Needs To Keep Slashing Its Budget

Reuters | Posted 05.13.2012 | Business

By Jan Strupczewski BRUSSELS, March 13 (Reuters) - Greece will have to slash a further 5.5 percent of GDP in government spending in 2...

Greece Out of Default Emergency Room, But Far From Being Cured

Georges Ugeux | Posted 05.09.2012 | Business
Georges Ugeux

Do Greek authorities understand that, unless they play by the rules and restore their fiscal discipline, there will soon be another default... and no bailout? Nothing is less sure. This is not a few bad years; it is a different way to manage a country.

The Humiliating Cost of Progress in Greece

Thanos Dimadis | Posted 05.08.2012 | World
Thanos Dimadis

The Greek people should be afforded the security of knowing whether their country is on a steady path towards economic recovery. Nevertheless, no one is able to assure Greeks the crisis is averted.

Greece Hits New Low

Reuters | Posted 05.02.2012 | Business

NEW YORK, March 2 (Reuters) - Moody's Investors Service on Friday cut Greece's sovereign debt rating to the lowest possible level af...

Hey Greece, Forget The EU, The Internet Is Coming To Your Rescue

The Huffington Post | Bonnie Kavoussi | Posted 03.02.2012 | Business

Greek protesters, European finance ministers, and central bankers: you can go back home now. Financial markets, rest easy. Greece has been saved. Sort...

Surprise! S&P Downgrades Greece

AP | Posted 02.28.2012 | Business

WASHINGTON -- Standard & Poor's has downgraded Greece's credit rating to "selective default" because of steps the country took last week to force its ...

Five Problems With The Greek Debt Deal

The Huffington Post | Mark Gongloff | Posted 02.21.2012 | Business

There are only three greater sources of confusion in the world than what's going on in Greece, and they are all found in quantum physics, David Lynch ...

Think the Problems in Europe Are Over? Think Again

John R. Talbott | Posted 04.22.2012 | Business
John R. Talbott

The Europeans are taking a page from Hank Paulson's book, who claimed that if you had a big enough bazooka, you probably would never have to use it. But, the European bazooka looks more like a pop-gun when you look at the magnitude of the potential problems there.

Greece's Moment Of Truthiness: Seven And A Half Things To Know

The Huffington Post | Mark Gongloff | Posted 02.21.2012 | Business

Thing One: Greece's Moment Of Truthiness: Well, it's all over, folks. That whole Greek-debt thing. All solved. While you were opening gifts under your...

The Human Costs Of Austerity: Greek Woman Threatened To Kill Herself

The Huffington Post | Bonnie Kavoussi | Posted 02.15.2012 | Business

Greek austerity measures, the necessary price of a European Union bailout, have already taken a toll on the lives of the debt-ridden country's populat...

PHOTOS: Rioters Set Athens On Fire

Posted 02.13.2012 | World

Greek police fired tear gas at petrol bomb-throwing protesters outside parliament, where tens of thousands had massed a rally against austerity plans ...

Mark Gongloff

Greece Is Blowing Up The Stock Market Today | Mark Gongloff | Posted 02.10.2012 | Business

The U.S. stock market could be on track for its worst day of the year Friday because of turmoil in Greece. Protesters are rioting in the streets of...

A Modern Greek Tragedy

George Kenney | Posted 04.10.2012 | World
George Kenney

The fault accrues much more to Eurozone authorities than to Greece because, politically, the Europeans have long dodged the critical fact that their limited currency union is unworkable.

Greek Leaders Fail To Agree On Bailout Deal, As Default Looms

Reuters | Posted 04.10.2012 | Business

By George Georgiopoulos and Harry Papachristou ATHENS, Feb 9 (Reuters) - Greek leaders failed early on Thursday to agr...