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Greek Debt

Greek Lawmakers Reach Agreement To Form Interim Government

AP | ELENA BECATOROS and DEMETRIS NELLAS | Posted 01.06.2012 | Business

ATHENS, Greece — Greece's embattled prime minister and main opposition leader agreed Sunday to form an interim government to ensure the country'...

After Leaders Reach Debt Deal, Greek Stocks Surge

AP | DEREK GATOPOULOS | Posted 12.27.2011 | Business

ATHENS, Greece — Shares on Greece's stock market closed sharply up Thursday following a debt deal reached by European leaders that the country's...

Bonnie Kavoussi

European Crisis Could Tip U.S. Into Recession | Bonnie Kavoussi | Posted 12.04.2011 | Business

As the Greek government appears increasingly likely to default on its debt, economists are envisioning potentially dire spillovers to the United State...

Europe: Lacking a Long-Term Solution

Gemma Godfrey | Posted 10.14.2011 | Business
Gemma Godfrey

Over the last few days we have seen a tremendous amount of volatility in the markets, epitomizing the lack of clarity with which many investors have struggled.

Amid Crisis, Italy Seeks Budget-Balancing Constitutional Amendment

AP | FRANCES D'EMILIO | Posted 10.05.2011 | Business

ROME — Italy pledged on Friday to work swiftly for a constitutional amendment requiring the government to balance its budget, as Rome feverishly...

Eurozone Seeks To Prevent Spillover Of Greek Debt Crisis

AP | GABRIELE STEINHAUSER | Posted 09.10.2011 | Business

(AP) BRUSSELS -- European officials are trying to work out a strategy Monday to prevent the eurozone's debt crisis from spilling over into bigger econ...

Europe Gives Greece $17 Billion To Avoid Default

The New York Times | Posted 08.31.2011 | World

Euro zone finance ministers confirmed Friday that they would announce the release of a $17.4 billion, or €12 billion, installment of aid for Greece ...

Bonnie Kavoussi

In Greece, American Economic Recovery Is At Stake | Bonnie Kavoussi | Posted 08.17.2011 | Business

Once again, the global economy seems vulnerable to a crisis brewing in a single country, as the turmoil in Greece and the risk of a government default...

Raging Greeks Stage Biggest Anti-Austerity Protest

Posted 08.05.2011 | Business

By George Georgiopoulos ATHENS, June 5 (Reuters) - Tens of thousands Greeks rallied in central Athens on Sunday to denounce politicians, banker...

DSK and the Greek Myth of "Reprofiling"

James Berman | Posted 07.18.2011 | Business
James Berman

With IMF leader Dominique Strauss-Kahn under arrest for sexual assault, many have predicted the Euro's demise. After all, DSK is a founding father of the common currency and the architect of bailouts that have propped up the euro zone.

Greek Debt Must Be 'Sustainable' Before Restructuring, EU Official Says

Posted 07.17.2011 | Business

BRUSSELS (Reuters) - Greek debt could undergo a "soft" restructuring if Athens embarks on major reforms and accelerates privatization to raise fun...

Greece Debt Restructuring Would Be A Disaster, Officials Warn

Posted 07.03.2011 | Business

ATHENS/LISBON (By George Georgiopoulos and Andrei Khalip) - Greece insisted on Tuesday any restructuring of its debts would be a disaster for the ...

Greece May Get More Time To Repay Bailout

Posted 05.25.2011 | Business

PARIS/ATHENS (By Paul Taylor and George Georgiopoulos) - Support is gaining ground in the euro zone for giving Greece more time to pay back its EU ba...

Citigroup TRADING ERROR Fueled Stock Market Crash Today: CNBC

Posted 05.25.2011 | Business

UPDATE: 6:39 P.M.: The lightning-fast drop in Procter & Gamble's stock price this afternoon may push the markets to unwind some trades, the CEO of ...

Expect Nothing: Why We Need a New Approach to the Chaos in Europe

Simon Johnson | Posted 05.25.2011 | Business
Simon Johnson

After months of denial, the European policy elite finally begins to understand that something is seriously wrong in the eurozone. But the prevailing definition of the problem is still too narrow -- that "this is a Greek problem.

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...

Greek Debt Risks Won't Quit

Dan Dorfman | Posted 05.25.2011 | Business
Dan Dorfman

If a Greek debt default can't be ruled out, investors should realize that the Euro debt problem is a global sovereign debt problem and that as it spreads, it will slow down global economic growth.

Greece Puts Island Land Up For Sale To Save Economy

The Guardian | Elena Moya | Posted 05.25.2011 | World

Now Greece is making it easier for the rich and famous to fulfill their dreams by preparing to sell, or offering long-term leases on, some of its 6,00...

Fiscal Austerity Fever Goes Global

Marshall Auerback | Posted 05.25.2011 | World
Marshall Auerback

In defense of the current Greek, Spanish and Portuguese governments, they find themselves in a fiscal straitjacket not of their own making. The UK, by contrast, is willingly choosing to commit economic suicide.

Cash-Strapped Greece Should Sell Islands, German MPs Say

Posted 05.25.2011 | World

Two German MPs have recommended Greece sell off some of its islands to counter the country's notorious debt problem. Josef Schlarmann and Frank Schae...

Greece Debt Crisis: Leaders Await EU 'Solidarity' After Huge Budget Cuts

Posted 05.25.2011 | Business

ATHENS, Greece - (By NICHOLAS PAPHITIS, AP) Greece has announced a new austerity plan worth euro4.8 billion ($6.5 billion) in savings to deal with the...

Greek Debt Crisis

AP | ELENA BECATOROS | Posted 05.25.2011 | Business

ATHENS, Greece — Prime Minister George Papandreou called on Greeks to brace for more painful spending cuts to deal with an unprecedented financi...

Bernanke: Wall Street's Greek Debt Contracts To Be Investigated By Federal Reserve

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the central bank is looking into the use by Goldman Sachs and ot...

Cleaning up Greece's Augean Stable

Eric Margolis | Posted 05.25.2011 | World
Eric Margolis

Greece's financial mismanagement risks igniting the biggest financial crisis since the Dubai crisis, or even the collapse of New York's Lehman Brothers bank in 2008.

Greece Debt Crisis: Officials Given 'Only Days' To Explain Complex Deals That Hid Debt

AP | AOIFE WHITE | Posted 05.25.2011 | Business

BRUSSELS — Greece has only days to explain its use of complex financial deals that it used to mask debt and just a month to prove that its drastic b...