GreeceCrisis News

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As Greek Debt Is Deemed Junk, Fears Multiply

ATHENS, Greece (April 27) -- Clad in tattered threads, a beggar trembles. His extended hands, bruised and bandaged, plead for help. "I'm hungry," he croaks as he rattles a tin can and clasps a picture of the Greek prime minister. In recent weeks scenes like this, though still rare, have swept up from Athens' rougher...

Debate: Spending, Not Taxes, Is the Problem

(April 14) -- Widely used in Europe, the value-added tax (VAT) has always seemed a nonstarter in the United States. That may be changing given apparently insurmountable structural deficits and fear that the financial collapse of Greece could happen here if revenue isn't increased. These days, the VAT is being taken...

Taming Financial Weapons of Mass Destruction

(March 9) -- The campaign to rein in a type of risky investment villainized in the economic crisis and blamed for the government bailout of AIG and the financial collapse of Greece is gaining momentum in Washington and other capitals, where officials are comparing it to piracy of another age. On Tuesday, a key U.S....

Greece Bites the Bullet on Austerity Plan

ATHENS (March 3) -- Greece faced crunch time Wednesday, ordering an additional $6.5 billion in radical budget cuts that will slash 30 percent off civil servants' holiday bonuses and slap fresh taxes on consumers. The measures amounted to a last-ditch bid to stave off the euro zone's first debt default and the broader...

In Crisis, Some Greeks Blame the Germans

ATHENS (March 1) -- After first blaming their country's grave fiscal crisis on a feckless political elite, Greeks have redirected some of their ire to the Germans, reviving haunting memories of Greece's Nazi occupation. Greece, a chronic violator of European Union budget rules, is under intense pressure from its EU...