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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...

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THE HUFFINGTON POST - BUSINESS

Bad News For Greek Companies

Rating agency Moody's Investors Service said it had lowered its ratings ceiling on Greek domestic debt issuers due to the rising risk of the country exiting the euro zone, but added it did not consider that the most likely scenario for the country.

THE HUFFINGTON POST - BUSINESS

Stocks Free Fall After Dismal Jobs Report

The stock market suffered its worst day of the year Friday after a surprisingly weak report about hiring and employment cast a pall of gloom over the U.S. economy.

THE HUFFINGTON POST - BUSINESS

Eurozone Unemployment Rate Hits Record High

Unemployment across the 17 countries that use the euro stuck at 11 percent in April â the highest level since the single currency was introduced back in 1999, piling further pressure on the region's leaders to switch from austerity to focus on stimulating growth.

THE HUFFINGTON POST - BUSINESS

Eurozone Unemployment At Record High

Unemployment across the 17 countries that use the euro stuck at 11 per cent in April â the highest level since the single currency was introduced back in 1999, piling further pressure on the region's leaders to switch from austerity to focus on stimulating growth.

AOL MONEY & FINANCE

US futures slide ahead of crucial jobs numbers

NEW YORK -They sold in May and went away, all right.

greece News From the Web

06/02/12 West finally has to choose: Be Germany or be Greece Source: The Economic Times - India The current European debt crisis did not begin with Greece, even if it cooked its books to get into the eurozone.
06/02/12 Dick Advocaat's Russian shock troops Source: Express.co.uk The fairytale miracles of Denmark in 1992 and Greece in 2004 prove it is foolish to write off any team.
06/02/12 Europe's leaders face testing 4 weeks of... Source: Today's Zaman After two-and-a-half years battling a debt crisis that has morphed into an economic crisis and now one of politics too, they face four weeks of critical decision-making that may mark a turning point or otherwise shunt the continent further into turmoil.
06/02/12 MPs from Greek neo-Nazi party Golden Dawn arrested... Source: The Guardian - London - UK Two newly elected MPs from the neo-Nazi Golden Dawn party were among six people arrested over an attack on a Pakistani man in Athens, in the latest in a series of incidents that have raised fears that Greece 's immigrants are being targeted in the runup to this month's crucial elections.
06/02/12 The UK is praying Spain sorts out its banking crisis... Source: Stockwatch - Cyprus As Spanish bond yields spiralled to unsustainable levels of 6.68pc on Thursday, the country's deputy prime minister, Soraya Saenz de Santamaria, was despatched to Washington for talks with the IMF's managing director, Christine Lagarde, and US treasury secretary Tim Geithner.

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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