Greece bailout – News Stories About Greece bailout - Page 2

Nov 27, 2012 3:39 AM CST

EU: New Greek Deal Will Work

Markets rise after fresh deal to keep country afloat

(Newser) - European Union finance ministers and the IMF have hammered out yet another deal on Greek debt and they say this one is going to work. The euro and Asian markets rose after the announcement of the latest deal on the three-year-old crisis, which will cut the rates on bailout loans,...

Greek Parliament
OKs Austerity Budget

Nov 12, 2012 10:22 AM CST

Greek Parliament OKs Austerity Budget

But Europe still hasn't settled on aid package

(Newser) - Following the tight passage of an austerity package last week, Greece's parliament has approved a 2013 austerity budget. The budget, part of a plan to receive further foreign financing, passed by a margin of 167 to 128, the New York Times reports. It cuts salaries, pensions, and benefits by...

Austerity Ekes Out
Victory in Greece

Nov 8, 2012 5:26 AM CST

Austerity Ekes Out Victory in Greece

Eurozone decision follows huge protests

(Newser) - In a 153 to 128 vote, Greek's three-party coalition government barely passed some $22 billion worth of new austerity measures in an effort to remain in the eurozone. Eighteen MPs voted "present" on the plan, with another abstaining. The vote on the measures, which include pension cuts and...

Greeks Launch
48-Hour Strike
Over New Cuts

Nov 6, 2012 6:32 AM CST

Greeks Launch 48-Hour Strike Over New Cuts

Parliament votes tomorrow on bailout-linked austerity measures

(Newser) - Greeks today launched a 48-hour general strike in protest of new spending cuts, with an estimated 2 million people—from lawyers to hospital employees—taking part. The union-organized strike has shut down banks, schools, and public transportation as Parliament prepares vote on the cuts tomorrow. It must support the austerity...

Eurozone
Unemployment
Hits Record 11.6%

Oct 31, 2012 6:46 AM CDT

Eurozone Unemployment Hits Record 11.6%

Greece and Spain see the worst of it

(Newser) - Unemployment in the 17-country eurozone hit a record high of 11.6% in September, official figures showed today, a sign the economy is deteriorating as governments struggle to get a grip on their three-year debt crisis. The rate reported by Eurostat, the EU's statistics office, was up from an...

Greece Reaches
'Basic Agreement'
on Austerity

Sep 27, 2012 7:39 AM CDT

Greece Reaches 'Basic Agreement' on Austerity

Decision follows yesterday's giant protests

(Newser) - The heads of the three parties in Greece's governing coalition have reached a "basic agreement" on an austerity package for 2013-2014, the country's finance minister says. The cuts are essential if Greece is to continue receiving funds from international emergency loans. The meeting between Prime Minister Antonis...

Protesters,
Cops Clash as
Greek Protests
Turn Ugly

Sep 26, 2012 1:47 PM CDT

Protesters, Cops Clash as Greek Protests Turn Ugly

Marchers are angry over austerity cuts

(Newser) - Between 50,000 and 70,000 raging Greeks took to the streets today, trading gas bombs and chunks of concrete with police tear gas and pepper spray as demonstrations amid a 24-hour nationwide strike turned violent, reports the AP . Demonstrators marched on the nation's parliament to protest austerity measures...

Eurozone Wants Greeks
to Work 6 Days a Week

Sep 5, 2012 8:26 AM CDT

Eurozone Wants Greeks to Work 6 Days a Week

Demand likely to draw yet more resistance to austerity measures

(Newser) - If Greece's eurozone creditors have their way, a lot of people may be coming in to work on Sundays. In a leaked letter sent to Athens last week, the European Commission, European Central Bank, and IMF demanded that Greece "increase flexibility of work schedules" by allowing employers in...

Romney:
California,
It's Just
Like Greece

Aug 9, 2012 8:20 AM CDT

Romney: California, It's Just Like Greece

Jokes state knows a thing or two about debt; California unamused

(Newser) - Mitt Romney jokingly said the United States needs to do a better job managing debt or it could end up like Greece, or closer to home, California. The Republican presidential hopeful told an audience in Iowa yesterday that he worries the US is on a pathway to crippling debt and...

Greece Caves,
Agrees to
Full Austerity

Jul 29, 2012 7:27 AM CDT

Greece Caves, Agrees to Full Austerity

Under creditor threats, Athens to find $1.8B more in cuts

(Newser) - Greece blinked today: In a showdown with creditors, the crisis-wracked country agreed to find the final $1.85 billion needed to reach the $14.2 billion in cuts required to get desperately needed aid money in September, reports Reuters . Greece had been asking for more time, but fed-up German and...

German Credit Rating
Downgraded to Negative

Jul 24, 2012 4:23 AM CDT

German Credit Rating Downgraded to Negative

Move may indicate threat to Germany's AAA rating

(Newser) - Germany, the Netherlands, and Luxembourg may have strong credit ratings, but that didn't stop Moody's from downgrading all three to "negative" yesterday, as the never-ending euro crisis continues to deepen, reports Reuters . The rating agency specifically warned about yesterday's threat by Germany to kick Greece out...

Report: IMF, Germany
Ready to Pull Plug on Greece

Jul 23, 2012 9:48 AM CDT

Report: IMF, Germany Ready to Pull Plug on Greece

Rising bond rates show Spain also heading deeper into crisis

(Newser) - The International Monetary Fund could be ready to cut off fresh funds to Greece, a step that would likely lead to default and getting bounced from the eurozone, reports der Spiegel . The big problem is that Greece has fallen so far behind in its austerity promises—made to secure $158....

'Mr. Euro' Named New Greek Finance Minister

Jun 26, 2012 8:03 AM CDT

'Mr. Euro' Named New Greek Finance Minister

Yannis Stournaras considered liberal, reform-minded economist

(Newser) - It's "Mr. Euro" to the rescue. Yannis Stournaras, a key figure who helped negotiate Greece's entry into the eurozone, has been named Greece's new finance minister, reports Reuters . Stournaras replaces Vassilis Rapanos, who resigned from the finance minister position due to health reasons just days after...

Greece's New
Finance Minister Quits

UPDATED

Jun 25, 2012 11:22 AM CDT

Greece's New Finance Minister Quits

Vassilis Rapanos steps down days after being named to post

(Newser) - It may not be an encouraging sign for Greece's financial affairs, but the country's brand-new finance minister is resigning, Bloomberg reports. Prime Minister Antonis Samaras accepted Vassilis Rapanos' resignation today, according to a text message from the premier’s office. Rapanos had just been named the new minister...

Greece Dying to Sell
$166M Luxury Resort

Jun 24, 2012 1:41 PM CDT

Greece Dying to Sell $166M Luxury Resort

Astir Palace sale could help country stick with euro

(Newser) - In a desperate bid for cash, Greece is trying to sell off a famed seaside resort and meet requirements of its bailout package, Bloomberg reports. For sale is the 3.3-million-square-foot Astir Palace complex, which has housed guests such as Frank Sinatra and Jane Fonda since opening in 1960. Asking...

Greek PM Bails
on EU Summit
After Eye Surgery

Jun 24, 2012 11:41 AM CDT

Greek PM Bails on EU Summit After Eye Surgery

Antonis Samaras underwent 4-hour operation for detached retina

(Newser) - Greece's new prime minister will not be well enough to travel to a critical EU summit in Brussels after undergoing an eye operation, the government said today. Antonis Samaras, 61, underwent surgery for a detached retina for nearly four hours yesterday, just three days after being sworn in at...

Greece
to Lenders:
Give Us 2
More Years

Jun 21, 2012 10:14 AM CDT

Greece to Lenders: Give Us 2 More Years

New coalition government also wants to extend unemployment benefits

(Newser) - Greece is just a day from an all-or-nothing showdown with Germany—at least in the Euro 2012 soccer championship. In the world of international economics, however, Greece's new coalition government plans to ask for two more years to make its financial targets, reports Reuters . That would mean pushing its...

New Greek PM Signed In

UPDATED

Jun 20, 2012 10:33 AM CDT

New Greek PM Signed In

Antonis Samaras sworn in after deal reached to form government

(Newser) - New Democracy leader Antonis Samaras was sworn in as Greece's new prime minister today, after his conservative party reached a deal to form a coalition government with the liberal Pasok and Democratic Left parties, CNN reports. "We trust that with God's help we will do all we...

Greeks Close In on Deal,
But Germany May Not Like It

Jun 19, 2012 7:31 AM CDT

Greeks Close In on Deal, But Germany May Not Like It

Parties intent on renegotiating bailout

(Newser) - The leaders of Greece's political parties emerged from meetings today saying they were determined to form a government—though from the sound of things, that may be a government at odds with Germany. The conservative New Democracy party is hoping to form a unity government with Socialist Pasok and...

Relieved Germany
May Throw Greece a Bone

g20 begins

Jun 18, 2012 7:40 AM CDT

Relieved Germany May Throw Greece a Bone

Leaders applaud results as financial woes continue

(Newser) - Germany signaled that it may give Greece some much-needed breathing room in its bailout timetable today, as European leaders cheered the victory of Greece's pro-bailout leaders this weekend. "We're ready to talk about the time frame as we can't ignore the lost weeks and we don'...