Greece

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Markets Rise, Euro Up After Greek Elections

But investors still fretting about eurozone

(Newser) - Financial markets around Asia seem to be breathing easier after Greece's pro-bailout coalition narrowly won yesterday's election , reports the Wall Street Journal . The euro was up to $1.2714 from its $1.2640 close on Friday, with Tokyo's Nikkei up 1.8%, Hong Kong's Hang Seng...

Pro-Bailout Party Wins Greek Election

New Democracy leader Antonis Samaras: Greeks chose 'European path'

(Newser) - Fears of an imminent Greek exit from Europe's joint currency receded today after the conservative New Democracy came first in critical elections and pro-bailout parties won enough Parliamentary seats to form a joint government. As central banks stood ready to intervene in case of financial turmoil, Greece held its...

Stakes Critical as Greeks Vote
Stakes Critical as Greeks Vote 
Jun 17, 2012 8:25 AM CDT

Stakes Critical as Greeks Vote

Europe watches, worries about exit from eurozone

(Newser) - Greece is voting today amid global fears that victory by parties that have vowed to ditch bailouts and austerity measures could undermine the eurozone and send the world's major economies reeling. For Greeks, it is the second national election in six weeks, reflecting political turmoil sparked by a two-year...

Central Banks Steel for Greek Vote

G20 ready for 'coordinated action'

(Newser) - Central banks across the world are preparing to take decisive action if needed after Greece's election on Sunday, which could rattle financial markets. "The central banks are preparing for coordinated action to provide liquidity," a G20 aide tells Reuters . Britain says it will inject its economy with...

Base Jumper Stuck on Cliff Calls Lover, Falls to Death

He calmed pregnant girlfriend as he awaited rescue 3 hours

(Newser) - A British base jumper spent three terrifying hours stuck on an inaccessible cliff face on the Greek island of Zakynthos before falling to his death. The 41-year-old jumper, whose parachute became snagged after winds blew him back onto the cliff he had jumped from, phoned and texted his seven-month-pregnant girlfriend...

EU: We May Limit ATM Withdrawals if Greece Bails

Visa-free Euro travel could end too, officials warn

(Newser) - Europe is readying a to-do list in case Greece tries to leave the euro—like limiting the size of Greek ATM withdrawals, ending visa-free EU travel, and clamping down on eurozone capital. Finance officials say they don't expect Greece to bail, but anything is possible with the radical-left SYRIZA...

Greek Politician Sues Women He Attacked

Ilias Kasidiaris dodges arrest over televised slaps

(Newser) - Last week, extreme-right Greek politician Ilias Kasidiaris slapped one woman and dumped water on another on live television. This weekend, he managed to duck an arrest; now it's Kasidiaris who is suing the women, the AP reports. He says that he was insulted on the talk show, and that...

Far-Right Greek Pol Decks Female Lefty on Live TV

Golden Dawn says their man provoked by left-wing woman's comments

(Newser) - A spokesman for Greece's far-right Golden Dawn party is wanted for assault after he threw a glass of water in the face of a female leftist politician, then struck a female communist party representative, all on live TV this morning, reports Reuters . Ilias Kasidiaris, who once served in the...

Greek Government Just Weeks From Going Bust

Recession, budget cuts have wiped out tax revenue

(Newser) - Never mind the euro or the drachma, Greece's new currency could become the IOU, the New York Times finds. The country's government is rapidly running out of cash—despite the latest bailout of $161 billion—and it might have no money for salaries, pensions, or fuel imports as...

New Roman Shipwrecks Bust Ancient Sailing Theory

Roman finds are deepest in Mediterranean

(Newser) - Greece has tracked down the deepest ancient shipwrecks ever found in the Mediterranean, and they're challenging what we thought we knew about the Romans. While experts previously believed that ancient ships held to the coastlines for safety—instead of venturing into the open sea—the two wrecks disprove that...

As Greeks Pull Money From Banks, Burglars Move In

Police see spike in home robberies

(Newser) - See those stories about panicked residents of Greece pulling their money out of banks ? Yeah, criminals did, too, and now police are warning people about a wave of break-ins and home invasions, reports Reuters . In fact, police broke up two crime networks from the former Soviet republic of Georgia...

Euro Crisis Has New Buzzword: 'Grexit'

That's slang for 'Greek Exit'

(Newser) - Want to strike fear into the hearts of European bankers? Throw around the term "grexit." It's slang invented by Citigroup referring to Greece's euro exit, and it's part of a growing lexicon of weird terms surrounding the eurozone crisis, the Wall Street Journal reports. Other...

Maybe It's Time to See Scenic, Broke Greece

If it leaves the eurozone, it'll be a real bargain, experts say

(Newser) - These days you probably think of Greece as the place threatening to set the euro on fire. It's easy to forget that it's also a pretty beautiful tourist destination, loaded with ancient ruins and sunny beaches—and soon, NPR points out, it could be a pretty cheap destination,...

Greek Euro Exit May Cost $1T
 Greek Euro Exit May Cost $1T 
May 17, 2012 7:44 AM CDT

Greek Euro Exit May Cost $1T

Tsipras tells Germany to stop demanding austerity

(Newser) - Europe has hundreds of billions of reasons to try to keep Greece from unceremoniously ditching the eurozone. If Greece leaves, the rest of Europe would face catastrophic losses, Reuters reports. Greece would default on the roughly $250 billion in debt held by the ECB, IMF, and other eurozone nations, and...

Jittery Greeks Withdrew $898M on Monday

Panic could cause collapse of country's banking system

(Newser) - As fresh elections loom in Greece following the failure of coalition talks, Greeks are starting to get their money out of the country's banks while the getting is good. Some $898 million was withdrawn from the country's banks on Monday alone, and economists warn that the country's...

Talks Fail, Greece to Hold New Elections

Caretaker government to be named tomorrow

(Newser) - Greece's post-electoral paralysis has been broken. The solution? New elections! Political leaders today announced that the ninth day of talks has failed to produce a deal. There was a sliver of hope going into the morning, as President Karolos Papoulias met with five political party leaders to propose a...

Greek Coalition Talks Drag Into 9th Day

Europe warns: Euro exit no longer inconceivable

(Newser) - Marathon efforts to break Greece's post-electoral paralysis are lurching into a ninth day amid the country's worst crisis in decades, with fractious party leaders summoned to a yet another emergency meeting tomorrow that could see the reins of government surrendered to non-politicians. The hectic haggling in Athens cast...

Clock Ticking, Greek Far Left Says No Coalition

Refusal means new elections, more uncertainty likely

(Newser) - Greek radical left leader Alexis Tsipras says he will not join or support a pro-bailout coalition government, saying he cannot agree to what he terms a mistake. His continued refusal makes new elections in the crisis-struck country more likely. Tsipras made the comments today after attending a meeting convened by...

Greece to Try Last-Ditch Effort to Form Government

President meets tomorrow with party leaders after all three fail

(Newser) - Don't look for Greece's political turmoil, and its effect on the world markets, to end anytime soon. Three parties have now tried and failed to form a government after last week's elections, and the president will meet with them tomorrow in a final effort to avoid a...

Eurozone Considers Stiffing Greece on Bailout

Officials trying to hold back $6.7B payout amid political upheaval

(Newser) - Eurozone officials are considering holding back a $6.7 billion bailout payment to Greece—a payment it dearly needs to pay the $4.3 billion in bonds coming due next week, sources tell the Wall Street Journal . The chatter comes in response to Greece's recent elections, which swept the...

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