greece debt

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New Greek Govt.: Debt Repayment Isn't Realistic

Syriza economics spokesman calls for negotiations

(Newser) - As Greece's newly elected Syriza party takes office, its top economics spokesman is making the party's views on debt clear. It's "unrealistic" to think that Greece will be able to pay back the $270 billion bailout it received from the eurozone and other lenders, Euclid Tsakalotos... More »

Fitch Upgrades Greece, Deems Rating 'Stable'

...But that's still junk status

(Newser) - We have something rare for you today, folks: Positive economic news out of Greece. Fitch has upgraded the beleaguered country's dismal credit rating from CCC to B-, saying it had made "clear progress" toward trimming its budget deficit and its risk of dropping out of the euro currency... More »

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,... More »

Protesters Storm Greek Conference, Throw Coffee

They were angry over presence of German officials

(Newser) - Dozens of anti-austerity protesters broke into a conference center in northern Greece and clashed with police today to demonstrate against the presence of a German government official. The protesting municipal workers pushed and threw coffee on a German consul in Thessaloniki, Wolfgang Hoelsche-Obermaier, who arrived to attend a conference of... More »

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... More »

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... More »

Anti-Immigrant Violence Surges in Greece

Police accused of looking the other way as Golden Dawn attacks

(Newser) - Violence against legal and illegal immigrants has surged to "alarming proportions" as Greece suffers through one of the world's worst economic contractions since the Great Depression, the New York Times finds. The far-right Golden Dawn party made huge gains in the country's recent elections, and its supporters,... More »

Greek Gunmen Drive Van Into Microsoft HQ

Latest in series of attacks on symbols of power in Greece

(Newser) - If idle hands are the devil's hands, Greece is finding out the hard way: Gunmen this morning stormed Microsoft's Athens headquarters, ramming the building with a gasoline-laden van before setting fire to it. The attack injured no one, but heavily damaged the building's first floor and shut... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

Radical Left Gets Shot at Running Greece

Eurozone exit more likely than ever after election revolt

(Newser) - Irate Greek voters may have shoved their country out of the eurozone for good in Sunday's election , by crippling the mainstream parties that voted for the country's bailout. The head of the Conservative New Democracy Party gave up trying to form a ruling coalition within hours yesterday, the... More »

77-Year-Old's Suicide Fuels Greek Fury

Protesters clashed with riot police in Athens

(Newser) - The 77-year-old retiree who committed suicide in an Athens square teeming with commuters yesterday morning did indeed leave a note, in which the former pharmacist explained that he could not face a future that could involve "scavenging through garbage bins for food and becoming a burden to my child.... More »

77-Year-Old Greek Kills Self Over Debt

Shoots himself 300 feet from parliament in Athens

(Newser) - How dire is the situation in Greece? It's come to this: A 77-year-old killed himself in an Athens square this morning, apparently distraught over his mounting debt. Police say the unidentified man shot himself about 300 feet from the parliament building in Syntagma Square, as rush-hour commuters passed by.... More »

Most Greek Bondholders Agree to Take Huge Loss

Debt swap deal a success

(Newser) - A whopping 85.8% of Greece's private bondholders have agreed to swap their bonds for new ones that are worth half as much, the country announced today. "The response exceeded all expectations, and every historic precedent," Greece's finance minister boasted. Greece can now use a "... More »

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