Haven't similar experiences in the debt crises of the 1980's, Russia in 1998, and Argentina in 2001 taught us that waiting too long to restructure in situations of clear insolvency can be more costly in the end?
Greece's political leaders still don't seem to get it, and neither do its official creditors. The longer this problem persists, the greater the challenge of turning around a country already beset by recession, insolvency, distressingly high unemployment and rising poverty.
ATHENS, Greece -- Evangelos Venizelos has worn many hats during the Greek crisis: point man in international bailout talks, inheritor of a once-domina...
CHICAGO, June 17 (Reuters) - The White House said on Sunday it hoped the Greek election outcome would lead to swift formation of a new government th...
ATHENS, Greece -- Police say about 10 men armed with sledgehammers and wooden bats have attacked a polling station during Greece's election, wounding ...
ATHENS, Greece -- Official projections in Greece's election show the conservative New Democracy party as coming in first and could gather enough suppo...
For Greece, staying in the euro is like staying in a luxury hotel without money in our pockets. This fact must be understood by all those who truly care about the welfare of the Greek people.
-- Greeks will have to wrestle with a crucial dilemma when they go to the polls for the second time in as many months on June 17 to elect a new gover...
The first round of elections on May 6 and the subsequent failure to form a coalition government threw Greece into political turmoil. This Sunday, June...
ATHENS, June 1 (Reuters) - Greece's June 17 national election is being cast as make-or-break for its future in the euro and the currency bloc itself...
ATHENS, Greece -- A senior judge has been sworn in to head Greece's caretaker government for a month as the debt-crippled country lurches through a po...
ATHENS, Greece (AP) — A senior judge was sworn in Wednesday to head Greece's caretaker government for a month as the debt-crippled country lurches t...
Europe's political winds have shifted over the past month. The first sign of this preceded the event now being hailed as the catalyst, Sarkozy's loss in France's presidential election, and it occurred in an unlikely place: the Netherlands.
The results are a death blow to the country's decades-long two-party system, leaving both Pasok and New Democracy in a lurch. But this should not come as a surprise considering the widespread popular discontent largely due to how the Greek crisis and how has been handled.
Running on a campaign based around anti-immigration, anti-austerity, and all-around fear, Golden Dawn's leader, Nikolaos Mihaloliakos took advantage of Greece's economic and social hopelessness to instill his message of hate to the masses. And, he was sadly rewarded.
Yesterday's vote is a message that young Greeks are tired of a future without promise, and for older Greeks, a message that the medicine they are being given hasn't worked to turn their situation around.
Structural failures in economic management bring on such crises when they fail to maintain expectations for improvement in the standard of living among the middle class, the mainstay of democracies and principal source of political stability in the modern world.
ATHENS, Greece -- The leader of an extreme-right, anti-immigrant party on course for shock success in Greece's general elections Sunday lashed out at ...