greece crisis News

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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...

Greece's Credit Rating Crash Puts It in 'Junk' Land

ATHENS, Greece -- This country's credit rating has crashed once more, standing, now, on a par with Angola and Vietnam, and leaving the government in Athens jaded. Moody's Investor Services downgraded Greece's debt by three notches to "highly speculative" status -- way below even debt-troubled Ireland, Portugal and Spain....

Greek Police Storm Acropolis to Break Up Jobs Protest

ATHENS, Greece (Oct. 14) -- Club-wielding police burst through crowds of protesters at the Acropolis today, clashing with culture ministry workers who blockaded Greece's most sacrosanct archaeological site as they pressed for renewal of their state contracts. Watched by bewildered visitors, the violent scuffles bruised...

Greek Truckers Usher In European Union Protests

ATHENS, Greece (Sept. 22) -- Greek truckers weren't celebrating Europe's no-car day today when they clashed with police, parked hundreds of truck on two main motorways and sealed off traffic around Athens. The protest marked the latest show of defiance against a government shake-up of labor rules liberalizing so-called...

Greek Prime Minister Overhauls Cabinet

ATHENS, Greece (Sept. 7) -- Greece's embattled Prime Minister George Papandreou has overhauled his Cabinet, retaining top ministers in key posts but demoting and unseating others crimping government designs to enact reforms, spur growth and yank Greece out of its deepening recession. Although anticipated for months,...