Greece wracked by political turmoil in debt crisis:
Prime Minister George Papandreou has struggled to garner support for a new package of €28 billion ($39.5 billion) in spending cuts and tax hikes demanded by the European Union and the International Monetary Fund, which last year granted his debt-ridden nation €110 billion ($155 billion) in bailout loans. Ref. Source 3
Greek Communists Protest Government Austerity Plans After Cabinet Reshuffle
Local Greek News
Papandreou reshuffled his Cabinet Friday, naming his main Socialist rival as finance minister in a bid to ease party criticism of his handling of the crisis. His new government faces a confidence vote on Tuesday in parliament, where the ruling party holds a slim majority, with 155 of the 300 seats.
Source: Greece News
Power cuts hit Greece as protests grow:
Greece was hit by rolling blackouts Monday as employees at the main power utility began 48-hour rolling strikes to protest the company's privatization, part of austerity plans needed to avoid a national debt default. Ref. Source 7
Asian Markets Trade Notably Lower On Greek Worries
Local Greek News
(RTTNews) - Asian stock markets are mostly trading notably lower on Monday with investors pressing sales amid lingering worries about the debt crisis in the euro zone. Though most of the markets ...
Source: Greece News
Greece offers humanitarian aid to Palestinian Authority after Gaza flotilla ban
Local Greek News
Greece offered to ferry humanitarian aid to the Palestinian Authority on Sunday after banning a pro-Palestinian flotilla bound for Gaza from departing from its ports and arresting the captain of one ...
Source: Greece News
Greece Needs ‘Endgame’ for Deficit Cuts, Canada’s Martin Says
Local Greek News
July 11 (Bloomberg) -- Former Canadian Prime Minister Paul Martin, who slashed his nation’s debt in the decade through 2005, said Europe needs to show Greece how austerity will pay off in the ...
Source: Greece News
Clinton Pushes Cyprus Solution in Turkey, Greece
Local Greek News
U.S. Secretary of State Hillary Clinton has begun a visit to Greece after telling officials in Turkey she wants to see an early solution to the Cyprus dispute. Clinton's talks with Greek officials wil
Source: Greece News
Euro zone erred in its failure to cut away the Greek cancer
Local Greek News
Cancer is a formidable disease. It starts with a few small, isolated cells. Early detection and removal of the malignancy ofte leads to recovery. But left untreated for too long, the malignant cells ...
Source: Greece News