Greece News

Greece News From AOL News

Greek Deficit Shoots Up; Citigroup Trader Probed for False Speculation

ATHENS, Greece -- This country's 2010 deficit shot up significantly more than anticipated, European Union data revealed today, signaling ailing attempts by the government in Athens to rein in the country's runaway finances and avoid a painful debt makeover. At 10.5 percent of the country's gross domestic product -- well...

Greece Proposes Spending Cuts, but Will They Be Enough?

NEWS ANALYSIS ATHENS -- Greece was heading for bankruptcy last year. It still is today, only now, its chances of fiscal recovery look bleaker, pundits and market analysts predict. The reasons? Half-baked fiscal reforms, shortfalls in revenue and a state debt expected to explode to over 160 percent of its gross domestic...

Will Propping Up Portugal Halt Spread of Insolvency in Europe?

ATHENS, Greece -- Following Greece and Ireland, Portugal, too, has requested a bailout from its European peers. But will Spain, a larger economy with stronger significance to global finance, follow? And more important, has European aid done anything to solve what appears to be a growing solvency problem. In answering at...

Prosecutor: Greek Olympians Should Be Convicted in Doping Scandal

ATHENS, Greece -- A prosecutor here called today for the conviction of two former Greek sprinters for staging a motorcycle accident and then lying about it to avoid a doping test at the 2004 Summer Olympics. Kostas Kenteris and Katerina Thanou, both medalists at the 2000 games in Sydney, Australia, are accused of...

Greece: Gadhafi Seeking Way Out, but Cease-Fire Must Come First

ATHENS, Greece -- After weeks of civil unrest, fighting and a rising death toll, Libyan leader Moammar Gadhafi is making diplomatic overtures, seeking a way out of the crisis. Abdelati Obeidi, Libya's deputy foreign minister and one of Gadhafi's most trusted aides, flew to Athens over the weekend to push that agenda...

Greece News From AOL

AOL MONEY & FINANCE

US futures tumble as outlook in Europe dims

NEW YORK -The stock market is desperately looking for good news.

AOL MONEY & FINANCE

Euro countries looking at "banking union"

LONDON -The debt crisis that has ravaged Europe for the best part of three years has exposed a dislike of the single currency but little desire to abandon it, a wide-ranging survey of public opinion found Tuesday.

AOL MONEY & FINANCE

Eurozone economic confidence slides in May

FRANKFURT -Germany prevented the economy of the 17 countries that use the euro from falling into a recession in the first quarter of the year despite a raging debt crisis that's raising the specter of the breakup of the currency union.

THE HUFFINGTON POST - BUSINESS

Arianna Huffington: Austerity: 2011's Darling Becomes 2012's Pariah

Actually, it's the same letter -- "A" -- but it stands for a different word that's increasingly regarded as shameful: Austerity.

THE HUFFINGTON POST - BUSINESS

Report: Greeks Could Lose Half Their Income With Euro Exit

An exit from the euro would see Greeks lose more than half their annual income and prompt a dramatic rise in unemployment and inflation, a report from the country's largest bank has warned.

Greece News From the Web

05/30/12 Glencore, Vitol keep oil flowing to G ... Source: Cape Argus Debt-stricken Greece is surviving on oil priced at a premium from trading houses Vitol and Glencore, who have stepped in as suppliers of last resort after sanctions forced Greece to halt imports from its main supplier Iran. Greece has been forced to halt Iranian oil purchases because of EU financial sanctions ahead of an oil embargo in effect from July 1.
05/30/12 Oil falls sharply on rebounding dollar Source: Expatica World oil prices sank to multi-month lows on Wednesday, as the dollar hit a 22-month peak against the European single currency on concerns over a possible Spanish bailout, dealers said.
05/30/12 European Commission Recommends Euro Banking Union -... Source: BankSITE The euro zone should move toward a banking union and consider recapitalizing its banks using its permanent bailout fund, the European Stability Mechanism, the European Commission said on Wednesday, in remarks that boosted stocks and the euro. [
05/30/12 US futures tumble as outlook in Europe dims Source: AOL Money & Finance NEW YORK -The stock market is desperately looking for good news.
05/30/12 Research and Markets: Bauxite Mining Market in Europe... Source: Allegheny Energy Inc Market Characterized by Increased Regional Demand for Aluminum Backed by Significant Reserves' provides key information and analysis of the European bauxite mining industry, which consists of Russia and Greece.

Background on Greece

Greece (, Ellada, historically in Katharevousa and , Hellas, and respectively), officially the Hellenic Republic (Ελληνική Δημοκρατία, Elliniki Dimokratia, ), is a country in Southern Europe, politically considered part of Western Europe.

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