There has been loud discontent over the austerity measures taken by the government
The European Commission has said that Greece has met the conditions to receive the second tranche of a 110bn-euro ($145bn
Greece
Greece’s efforts to tackle its public deficit have had a “strong start”, the International Monetary Fund (IMF) and European Union (EU) have said.
The comments came after a delegation of staff from the IMF, EU and European Central Bank visited the… more...
The Greek government has used a rare emergency order to force lorry drivers back to work after a three-day strike.
The drivers have until later on Thursday to return to the roads or face arrest and the loss of their licenses.
Most petrol stations in Athens are out of fuel and shops and factories are running low on supplies.
The drivers oppose government plans to open… more...
Currently, Greece detains migrants irrespective of whether such a measure is necessary
Amnesty International has urged Greece to stop treating asylum seekers as criminals and locking them up in jail.
In a new report… more...
Greek Finance Minister George Papaconstantinou says he aims to protect public services
Greece’s finance minister, George Papaconstantinou, has said the country cut its deficit by 42% this year.
He hoped Greece would be able to borrow from financial markets again by 2011… more...
Eurozone members are transferring 14.5bn euros to Greece
Greece has received the first tranche of a 110bn-euro ($136bn; £94bn) loan to help it overcome its debt crisis, the European Union has said.
The European Commission said 20bn euros from the EU and… more...
BRUSSELS—Euro-zone countries and the International Monetary Fund, seeking to halt a widening European debt crisis that has threatened the stability of the euro, agreed to extend Greece an unprecedented €110 billion ($147 billion) rescue in return for Draconian budget cuts.
Under the three-year agreement announced here late Sunday, Greece would receive €80 billion in loans from other euro-zone… more...
European markets have continued to fall heavily amid speculation over the future of the Greek economy.
Stocks in both Paris and Frankfurt were down by more than 2% on Wednesday morning, following the downgrading of Greece’s debt to “junk” status.
Spain’s leading index is down 3.3%, while in Portugal - which also had its credit rating cut - shares fell 4%.
Meanwhile the euro fell to a… more...
Investors are still nervous over plans to rescue the Greek economy, despite indications of progress on bail-out talks over the weekend.
Interest rates demanded by investors lending money to Greece are close to record highs - a sign that fears remain over Greece’s ability to repay loans.
Greece has been forced to request 40bn euros from the EU and International Monetary Fund (IMF).
But the details… more...
Civil servants are on strike over government cutbacks
Greece had a far larger budget deficit than expected last year and the figures may yet get worse, according to the European Union’s statistics office.
New data from Greece shows a gap of 13.6% of gross domestic product (GDP), not the… more...