GreeceEconomy News

GreeceEconomy News From AOL News

Greece Escapes Early Elections; Socialists Suffer Losses

ATHENS, Greece (Nov. 8) -- George Papandreou is not the gambling type. But in the political equivalent of an all-in bet at a high-stakes poker table, the bewildered Greek prime minister threatened to hold snap national elections if his Socialist party suffered sweeping losses in local polls. He was bluffing. While ruling...

Greek Leader Faces Protests Despite Pledge of Recovery

THESSALONIKI, Greece (Sept. 12) -- It's not just Iraqis who throw shoes at the mighty. As Greece's staid Prime Minister George Papandreou walked out of an exhibition center teeming with vendors and marketers weary with the nation's economic austerity measures, a 49-year-old doctor weaved through the crowd and hurled a...

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....