Greece

Germany frets, markets falter over French and Greek election results

In Germany, the results of yesterday's elections are seen as a refusal to follow the austerity plan hammered out by European leaders in long, painful negotiations.
Greece heads to the polls – and the political fringes

Today's national elections in Greece could see the end to a two-party monopoly over politics as discontent over the economic crisis generates interest in smaller parties.
Greek 'island of the blind'? More like 'island of welfare cheats'

On a Greek island, at least 600 are suspected of falsely claiming to be blind to get disability money. It's part of the rampant fraud that prompted Athens to halt payments to 200,000 last week.
Support for Greece's mentally ill disintegrates as money dries up

More of the mentally ill in Greece have ended up homeless, as services have been hit hard amid sharp austerity measures.
Athens suicide: a cry for dignity from downtrodden (+video)

The pensioner who committed suicide in Athens' main square said it was his only dignified option before pension cuts forced him to forage for food in the trash.
Greek finance minister quits post to lead struggling Socialist party

Greek Finance Minister Evangelos Venizelos is resigning his cabinet post amid the ongoing debt crisis to lead the Socialist party in general elections this spring.
Biggest debt restructuring in history buys Greece only 'a bit of time'

Private investors agreed to write off 85.8 percent of Greece's private debt, but analysts warn that if Greece doesn't address underlying problems, the deal will not fix things for long.
Greece to investors: take a haircut so we can get our bailout (+video)

For Greece to receive its second international bailout, private lenders need to agree to a substantial debt write-off. The deadline for an agreement is tonight.
Dissension over Greek bailout weakens Merkel (+video)

Members of German Chancellor Angela Merkel's coalition balked at the second Greek bailout, even though it passed. The vote is seen as a defeat for her austerity program.
As Greece awaits bailout, southern Europe seethes

European governments are expected to sign off on a second bailout for Greece today. But conditions set on rescue money have fueled populist unrest in southern Europe.
Forget about preventing default in Greece, control it, says Europe

Though Athens is still taking steps to contain the damage, most of Europe is skeptical that Greece will dodge a default.
The Greek debt conundrum, explained

The Greek parliament will vote on further austerity measures Sunday – the latest effort to alleviate a crisis that has careened between an EU bent on austerity and a resistant Greek public.
Greece lurches closer to collapse

Greece could finally default in March when massive bond payments are due.
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Europe's debt crisis: What's next for Italy and Greece?

Italy and Greece are working to cobble together interim governments to avoid bankruptcy as Europe's debt crisis rolls on.
Greek debt referendum: Bad for economy, but good for democracy

The shocking news of a Greek debt referendum this week has prompted European leaders to hold an emergency meeting today ahead of the G20 summit in Cannes, France.
Europe debt crisis: Greece teeters on brink of bankruptcy

Greece revealed today that it is in more dire economic straits than envisioned when a €110 billion bailout deal was agreed to this summer, sparking concern that Europe’s debt crisis could deepen.
Merkel, Papandreou buying time for debt-stricken Greece

The German chancellor and Greek prime minister today gave speeches pushing their plan to solve Greece's economic crisis, just days before the German parliament votes on more bailout money.
Israel's new friend: Why Greece is thwarting Gaza flotilla

Since last year's flotilla debacle killed nine Turkish activists, Israel has cultivated ties with Greece, offering the debt-ridden country generous military aid.
Greek government survives confidence vote. Now, the hard part.

Prime Minister George Papandreou is faced with passing an unpopular austerity program so it can get the $17 billion it needs by July 15 to avoid default on Greek debt.
Sarkozy, Merkel reach deal on Greece bailout cash

Germany and France reached an agreement that should see a desperately needed Greece bailout move forward.
Global News Blog
Economic hardship drives Greeks into the ground

The Greeks who years ago fled to cities for economic opportunity are now returning to the countryside for the same reason.
Why Moody's downgraded Spain's debt rating

Analysts say Moody's is looking at the worst-case scenario for Spain's struggling economy even though some economist say Spain shows some promising signs.
Despite Greece's 2011 austerity budget, a financial chill deepens in Europe

Greece passed a budget early Thursday with deep spending cuts, but investors will probably remain leery of lending to Greece and some of its indebted European peers.
Rome explosions at embassies linked to Italian anarchists

Rome explosions at the Swiss and Chilean embassies today bear the hallmarks of Italian anarchists, who could be trying to take advantage of the country's fragile political situation, say experts.
Greek parcel bombs, Yemen plot may cause tighter cargo security in Europe

In the wake of a string of parcel bombs in Greece and the Yemeni plot to send explosives to the US via air freight, Germany wants EU ministers to review air-cargo security measures.