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Greek Debt Crisis

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PICS: Clashes in Greece as Thousands Protest EU Austerity

ATHENS, Greece (AP) — An anti-austerity rally in Greece’s capital turned violent Wednesday as a general strike halted flights, ferries and public transportation, and thousands joined protest marches across the country. A small group of protesters threw gasoline bombs and

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Greece Calls on Germany to Ease Budget Demands

ATHENS, Greece (AP) — Greece’s government has called on Germany to drop what it described as “irrational” budget demands in the country’s bailout program, a day after Greece and its European creditors agreed to resume talks on new reforms.

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Thousands Take To Streets In Greece Ahead Of Reform Vote

Thousands of protesters took to the streets of Athens on Sunday as Greece’s parliament prepared to vote on a controversial tax and pensions overhaul which has sparked mass opposition. Police said almost 15,000 people turned out to march in Athens

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Eurozone Ministers Seek To End Greece Bailout Row

(AFP) – Eurozone finance ministers met Monday to defuse a bitter rift between top EU and IMF officials over how strictly to hold Greece to the ambitious reform commitments made as part of its bailout. The eurozone 19 ministers are

AP Photo

Defiant Greece Tells Global Creditors: We Will NOT Cut Government Pensions

ATHENS (AFP) –  Greece’s prime minister on Sunday said his government will not give in to “unreasonable” demands as the debt-ridden country braces for critical negotiations with international creditors on the thorny issue of pension reform. The warning came just days

SAKIS MITROLIDIS/AFP/Getty Images

Golden Dawn Surges in Greek Islands amid Migrant Crisis

Far-left Greek party Syriza had much to celebrate on Sunday, as Prime Minister Alexis Tsipras stormed to a more-comfortable-than-predicted reelection victory. Leftists were not the only ones celebrating, however, as neo-Nazi party Golden Dawn saw its best election results yet, coming in third place.

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Poll Lead For Greece’s Syriza Narrows As Tsipras Presses For New Mandate

From Reuters: Former Greek premier Alexis Tsipras urged supporters on Saturday to give him a mandate to complete the country’s political transformation, as a poll showed his leftist Syriza party’s lead slipping ahead of elections next month. Tsipras abruptly resigned

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Greeks Begin School Year with 27,000-Teacher Deficit and No Money to Hire More

As Greeks prepare for the beginning of the school year in September, there are serious concerns among Ministry of Education officials that as many as 27,000 teacher and university professor positions will remain unfilled. Officials are scrambling to recruit substitute teachers with fewer certifications to fill classrooms.

REUTERS/INTS KALNINS

Greek Cyber Crime Unit Investigating Former Finance Minister Varoufakis

The criminal investigation into former Greek Finance Minister Yanis Varoufakis will involve a cyber-crime law enforcement unit, as Greek officials seek to uncover whether Varoufakis’ “Plan B,” an emergency plan that would have required the government to hack into private taxpayer accounts and switch from the euro to the drachma currency.

Migrants Continue To Arrive On Greek Island Of Kos

Swiss MP To Greece: We’ll Take An Island In Return For Your Debts

A Swiss politician has called for the nation to take advantage of the Greek crisis to establish a Swiss empire overseas by taking an island in return for the money Athens owes. The unusual suggestion was made by Pierre Rusconi, a member of parliament

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Photos: Athens Burns as Parliament Accepts Strict EU Austerity Package

Police faced massive riots in Greece on Wednesday night as Parliament accepted the terms of a debt deal significantly more stringent than that rejected via referendum on July 5. Mass arrests of nationals from Australia, Ukraine, France, and Italy– but not Greece– occurred.

Protesters look on as they clash with riot police in front of the Greek Parliament (ANDREAS SOLARO/AFP/Getty Images)

PICTURES: Protests Turn Violent As Greek Parliament Backs Bailout

The Greek parliament voted last night to accept tough new austerity measures, despite the people rejecting similar measures in a referendum just over a week ago. Angry protesters took to the streets to denounce the move, which they saw as

Milos Bicanski/Getty Images)

‘I Did Not Lie’: Tsipras on the Ropes Championing New, More Austere Debt Deal

Following a referendum in which the Greek people largely rejected a debt deal with the EU and IMF requiring further austerity measures, Greek Prime Minister Alexis Tsipras has been cornered into selling the Greek Parliament an agreement even stricter than the one the referendum rejected. In doing so, he faces the herculean challenge of proving his new demand is not a complete about-face for him or his leftist party.

A barbed wire is seen in front of a European Union flag at an immigration reception centre in Bicske

The EU Is Dead: It Just Refuses to Lie Down

Anyone who has ever witnessed the terminal struggles of insects in a killing bottle will recognise the nature of the paroxysms contorting the EU “leaders” today. The Greek pantomime is beyond parody. It is a shadow-boxing contest between two factions of the

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Euro Death Watch: Greek Drachma Mysteriously Appears on Reporter’s Hotel Bill

A Bloomberg reporter, presumably in Athens to cover the developing Greek debt crisis, received quite a surprise with the bill: a charge in the Greek drachma, a long-defunct currency looming its head as the possibility of Greece leaving the euro behind grows with every day its government fails to make a debt payment to Europe.

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Travel Companies Offer Wild Discounts as 50,000 Tourists a Day Cancel Trips to Greece

Tourists planning a luxury getaway to the Greek isles are being increasingly hesitant to keep their bookings, thanks to both an economic crisis plaguing the nation’s banks and the Greek government’s inability to process thousands of illegal migrants sailing into island ports from Turkey. In order to keep revenue up, companies are offering steep discounts and encouraging tourists not to cancel trips.

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Greece’s Conservatives Lose Leader to Anti-Europe Referendum Vote

Antonis Samaras, the head of Greece’s conservative New Democracy party, has resigned from leadership following the nation’s resounding rejection of Eurozone debt repayment terms in a referendum on Sunday. Samaras will be remembered most for being the only prime minister in the last decade to accept austerity measures and attempt to curb Greece’s spending during the current crisis.

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Greek Pop Star Defies Leftist Government, Urges ‘Yes’ Vote on EU Referendum

As the ruling Coalition of the Radical Left (Syriza) vocally demands the Greek people vote “no” on a referendum regarding European Union debt repayment terms on Sunday, an unlikely voice has emerged representing the opposition “yes” vote, interpreted as a vote in favor of keeping the Euro as currency and remaining in the Euro: electro-pop megastar Sakis Rouvas.

Alexis Tsipras

Greek Government Denies Plans to Cut Defense Spending

The Greek government said on Wednesday it had no plans to cut defence spending, appearing to contradict a letter sent by Prime Minister Alexis Tsipras to creditors a day earlier offering to “reduce the expenditure ceiling for military spending”.

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Busted Flush Greece A Perfect Metaphor For the EU’s Own Dismal Future

So, farewell then Greece. The land of early retirement, lavish state pensions, tax evasion, official corruption and perpetual socialist indulgence – all of it underwritten by other people’s money – has become the first western country to default on an IMF loan. Incredibly

AP Photo/Virginia Mayo

China ‘Willing to Play a Constructive Role’ in Keeping Greece in the Euro

As talks between Greek officials and members of the IMF and European Union approach their conclusion before a potential exit of the Hellenic nation from the eurozone, Chinese officials are suggesting they could play a role in helping Greece pay back its debts. The Greek crisis has negatively affected the Chinese economy, which has invested millions in Greece.

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Eurozone Expecting Greek Default After Bailout Extension Rejected

The Greek prime minister’s surprise call for a July 5 referendum for voters to decide whether or not to accept the terms of a bailout deal offered by international creditors prompted the eurozone to reject Greece’s pleas to extend the expiring bailout, various news outlets report.

Greece Calls For A Vote On Proposed Bailout

Greece Update: Run On Banks Risks Leaving Them Cashless

UPDATE: European Central Bank confirms it will maintain emergency liquidity assistance to Greek banks. – The most dramatic day yet in Greece’s months long economic crisis saw a run on banks and the confirmation of next Sunday’s referendum on a bailout deal.