Greece

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Greece Lawmakers Back Austerity Plan

Bailout is on track again, though IMF now has concerns

(Newser) - Greece keeps inching toward its convoluted bailout: Lawmakers have approved an austerity package demanded by European creditors, reports Reuters . This time, Prime Minister Alexis Tsipras endorsed them, despite having championed a referendum that shot down a similar package less than two weeks ago. He had to face down a revolt...

IMF: Greek Deal Sucks
 IMF: Greek Deal Sucks 
Jul 15, 2015 5:13 AM CDT

IMF: Greek Deal Sucks

Greek lawmakers vote on tough austerity measures today

(Newser) - The deal that Greek Prime Minister Alexis Tsipras made under intense pressure after 17 hours of talks is a lousy one that will doom the country to many more years of economic misery, according to the International Monetary Fund. A leaked IMF report says that Greece's level of debt...

EU: We Have an &#39;aGreekment&#39;
 EU: We Have an 'aGreekment' 
Jul 13, 2015 7:05 AM CDT

EU: We Have an 'aGreekment'

New bailout deal reached after marathon talks

(Newser) - After a grueling 17 hours of talks at an emergency summit, eurozone leaders have emerged with an "aGreekment," as EU chief Donald Tusk puts it, instead of a " Grexit ." Leaders have agreed—in principle—on a deal that "means continued support for Greece," Tusk...

Greek Leader Under 'Intense Pressure' as Deadline Looms

Greek Prime Minister Alexis Tsipras faces prospect of 'Grexit'

(Newser) - Greek Prime Minister Alexis Tsipras faced intense pressure today to back an onerous package of austerity measures demanded by European creditors in return for a financial rescue that would prevent the collapse of the country's banks and its potential exit from the euro. If not, then some of Greece'...

Krugman: Greece Holds an Important Warning for US

But it's not the one you're hearing about the most

(Newser) - Republicans are pointing to Greece and saying it holds a warning for the US—too much debt and too much borrowing will bring us doom. Paul Krugman agrees that Greece offers a lesson for Americans, but he draws a different one: Don't listen to those Republicans, who have been...

In About-Face, Greece Offers Austerity Measures

Expect a frantic weekend of negotiations

(Newser) - Greece finally met a deadline that counted today, delivering a series of sweeping proposals to its creditors before midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation. The package of reforms raised hopes that Greece can get a rescue...

Panicked Greeks Buying Everything They Can

Nobody wants to be stuck with money in the bank

(Newser) - The middle of an unprecedented economic crisis might seem like a strange time to go on a shopping spree, but these are strange times in Greece. As a European Union deadline looms and the country's future looks increasingly uncertain, many of the Greeks who still have money are spending...

Greek Crisis? We Should Really Worry About China

Columnist: Plunging stock market could have much bigger effects on world

(Newser) - Greece's financial misery is getting the world's attention , but what's happening in China may have far greater consequences, writes Ruchir Sharma in the Wall Street Journal . The stock market there is in a free fall, down by more than 25% since mid-June, and there's no end...

Fed-Up EU Gives Greece an Ultimatum

Plans for Greek exit are now in place, leaders warn

(Newser) - There have been plenty of meetings and plenty of deadlines over the years of the Greek debt crisis, but European Union leaders have never sounded so serious—and fed up—as last night, when Greece was ordered to deliver a workable plan for reforms in return for loans by the...

Greece's Next Crucial Step: a 6pm Meeting in Brussels

Greek PM Alexis Tsipras will present proposal to EU leaders

(Newser) - The referendum was a "no," Finance Minister Yanis Varoufakis is out , Euclid Tsakalotos is in ... so where does Greece find itself today? Walking into an emergency summit of EU leaders. The latest:
  • So what is that summit all about? It was arranged following Sunday's vote and will
...

This Man Will Guide Greece Into Uncharted Territory

Meet Euclid Tsakalotos, the country's new finance minister

(Newser) - The Greek government has named Euclid Tsakalotos as the country's new finance minister, a day ahead of an emergency meeting with creditors in Brussels. The 55-year-old economist was Prime Minister Alexis Tsipras' lead bailout negotiator in talks that halted last month before Tsipras called for yesterday's referendum . Tsakalotos...

The Next 2 Days Are Crucial for Greece

Finance chief quits with pride

(Newser) - Greece delivered a resounding "no" to creditors' demands for tough austerity measures in return for continued bailout aid—and while the development is being widely described as huge, nobody is sure exactly what it will mean for the country, or for the European Union. But with the country's...

Greece Votes 'No,' Plunges Into Uncharted Territory

Prime Minister Alexis Tsipras says the vote will give them a better deal

(Newser) - Greece lurched into uncharted territory and an uncertain future in Europe's common currency today after voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy. Results showed 61% voted "no," compared with 38% for "yes,"...

With Polls Closed, Greece Projects a 'No'

Results in closely divided country indicate 60% voted against bailout terms

(Newser) - The birthplace of democracy is projecting that one of the most important and divisive referendums it has faced in its history will result in a rejection of creditors' term, reports the AP . With about one in four votes tallied, Greece's interior ministry projected that some 60% of voters had...

Greece Leader Asks People to Reject 'Blackmail'

Polls are dead even ahead of vote with massive implications

(Newser) - Greece's top court has declared that Sunday's referendum on a bailout is constitutional, meaning the vote with huge implications for all of Europe will proceed. The latest polls show a dead heat, reports AP , as leaders on both sides try to rally support—especially Prime Minister Alexis Tsipras,...

Greek Couple Left Penniless in NYC on Honeymoon

Their Greek-issued debit, credit cards were declined due to country's debt crisis

(Newser) - Newlyweds Valasia Limnioti and Konstantinos Patronis' long-planned "dream trip" to the US ended in New York City, where their three-week honeymoon quickly turned into a nightmare: Their Greek-issued credit and debit cards were suddenly declined and they were left penniless. The couple's US adventure started after their June...

Late-Night Letter Doesn't Solve Greece's Woes

European officials saying no deal until Sunday's vote

(Newser) - Greece's government appeared to be caving a bit, by way of a two-page letter sent from Prime Minister Alexis Tsipras last night to the country's three major creditors: the IMF, European Commission, and European Central Bank. Tsipras' letter said his government was prepared to accept creditors' proposals, subject...

Greece Misses Its Big Payment

Becomes the first advanced nation to default on an IMF loan

(Newser) - It might be a rocky day for the stock market tomorrow: The hour for Greece to make a $1.8 billion payment to the IMF has come and gone without any money changing hands, making Greece the first developed country to default on a loan from the world lending agency,...

The Parthenon&#39;s Attic Once Held a Great Fortune
The Parthenon's Attic
Once Held a Great Fortune
researchers say
Jun 30, 2015 10:32 AM CDT

The Parthenon's Attic Once Held a Great Fortune

Researchers believe millions of coins were once stashed there

(Newser) - The Parthenon once housed a massive statue of Athena made of ivory and gold; researchers now say it was far from the only thing of value kept in the ancient temple. Though the attic of the Parthenon has long been destroyed, researchers believe it once held millions of silver coins...

What Greece Is Saying Today: 'Oxi'

That's 'no' to the question of whether it'll pay the IMF today

(Newser) - "Oxi" is Greek for "no," and it's a word coming from Greek Finance Minister Yanis Varoufakis' mouth today. He confirmed that, no, Greece would not be paying the $1.8 billion it owes to the IMF today. His comment comes amid speculation that Greek Prime Minister...

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