Greece

Greek Deputy Labor Minister Resigns in Protest

22:20 09/02/2012 ATHENS, February 9 (RIA Novosti)

Greek Deputy Labor and Social Security Minister Yiannis Koutsoukos resigned on Thursday as a sign of a protest against the government’s decision to cut wages and pensions in exchange for European financial assistance.

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Greece Agrees to Fresh Austerity Measures
18:39 09/02/2012
Greek political leaders have finally struck a deal on new austerity measures demanded by creditors to secure a 130-billion euro bailout to avoid default and keep the country afloat, local media reported on Thursday.
Greece Hopes for Aid Despite Pension Cut Deadlock
11:31 09/02/2012
Greece hopes the EU will grant a second bailout worth 130 billion euros despite the government's failure to secure agreement on pension cuts at a marathon meeting that ended early on Thursday morning.
Russian Press at a Glance, Tuesday, February 7, 2012
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A brief look at what is in the Russian papers today
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Greek Trade Unions Announce General Strike
07:14 06/02/2012
As Greek political forces and international lenders negotiate ways to avert a default, which can take place already in March, the country's two largest trade unions announced a strike against proposed austerity measures.
Greece Poised for Further Spending Cuts
04:06 06/02/2012
Greek Prime Minister Lucas Papademos and leaders of the country’s political parties have agreed to further cut spending by 1.5 percent of GDP, the Greek government’s press service said.
Greece Must Concentrate on Reforms Says IMF
14:41 01/02/2012
Greece needs to ease up on the effort to reduce the budget deficit but hasten the implementation of reforms, head of the International Monetary Fund's supervisory mission in Greece Poul Thomsen said on Wednesday.
Greece May Need New Financial Aid – PM
11:19 31/01/2012
Greece is not discussing the tightening of budgetary oversight by the EU, despite the fact that it may need more financial aid than was been planned, Greek Prime Minister Lucas Papademos said on Tuesday.1
Greece Rejects Proposal to Cede Budget Control
20:48 29/01/2012
Greece has rejected suggestions it should cede control over its own budget to an EU outsider, the BBC reported on Sunday.
Greece Wants No EU Control on Country's Budget - Official
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Greece will not allow the European Union controlling country's budget policy, the Athens news agency said on Sunday quoting a Greek government top official.1
Greece ‘One Step away’ From Debt Swap - Officials
06:12 28/01/2012
Greece and its private creditors are close to reaching a agreement on the voluntary debt swap, Greek Finance Minister Evangelos Venizelos told journalists in Athens.
Cyprus Gets Second 1.32 Bln Euro Russian Loan Tranche
16:23 26/01/2012
Cyprus has received the second 1.32 billion euro tranche of a 2.5 billion euro loan pledged by Russia, the Cypriot Finance Ministry said on Thursday.
Greek Eurozone Exit Most Rational Option – Sberbank Boss
17:22 25/01/2012
The most rational way for Greece to cope with its massive sovereign debt problem is to quit the Eurozone, the head of Russia’s largest bank Sberbank, German Gref said on Wednesday on the sidelines of the World Economic Forum in Davos, Switzerland.2
This is GREECE!
19:17 19/01/2012
The first rumors that Greece may leave the Eurozone arose in 2010, when the country asked the EU and IMF for a bailout in a bid to avoid default. Greek Prime Minister Lucas Papademos on Monday said abandoning the euro and returning to the drachma was "really not an option," for the country. In an interview with CNBC, Papademos also said he was confident the country would avoid a default in March.
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12:34 19/01/2012
Russian stock markets and the ruble moved higher on Thursday after news that the International Monetary Fund planned to boost funds to help fight Europe’s sovereign debt crisis and the Greek government moved closer to a deal with private bondholders.
Greece May Force Creditors to Take Losses
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17:29 17/01/2012
The Greek default is inevitable and will be carried out in an “orderly” manner, Italy’s AGI news agency quoted a senior Fitch official as saying on Monday at a conference in Stockholm.
Germany calls for European rating agencies after S&P downgrade
12:46 16/01/2012
Europe needs to create independent credit rating agencies and stop relying solely on leading U.S.-based agencies, German Foreign Minister Guido Westerwelle said during his visit to Greece late on Sunday in the wake of S&'P's mass European downgrade last week.2
Greek church protests pre-trial detention of Abbot Efraim
22:55 12/01/2012
The autocephalous Orthodox Church of Greece has called for the release of Abbot Efraim, the head of the Vatopedi Monastery in Mount Athos, who is currently under arrest on real estate fraud charges, the church’s Holy Synod said on Thursday.

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