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Greece Business

Second agency downgrades Greece

A second agency downgrades Greece's credit rating, saying the government's spending cuts will not be enough to trim its debts. Ref. Source 6

Business Greece

Greece prepares 2010 economy plan

Greece is to tell the European Commission how it plans to control its public finances and turn round its economy. Ref. Source 1

Greece Business History & Civil Business Politics

ECONOMY: No EU help for Greece with gaping deficit says ECB official
Local French Business Updates

ECB chief economist Juergen Stark has categorically ruled out EU help for Greece to narrow its yawning public deficit, saying that the country?s problems are ?decidedly Greek?.
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Business Greece

Greece: Cash Business Transactions Over €1500 Will Be Outlawed in 2011

"From 1. Jan. 2011, every transaction above 1,500 euros between natural persons and businesses, or between businesses, will not be considered legal if it is done in cash. Transactions will have to be done through debit or credit cards" Ref. Source 7

Business Greece

Desperate Greece presses EU for quick debt rescue
(AFP)

European Business News

AFP - Greece warned Europe it will not be able to meet a key debt deadline unless it receives a bailout in the next three weeks, as financial markets plunged on fears of a default by the eurozone nation. Source: Yahoo! News: Business - European Economy

Greece Business

Protests in Greece in Response to Severe Austerity Measures in EU, IMF Bailout

The European Union and International Monetary Fund have agreed to a $146 billion bailout after Athens committed itself to years of austerity measures. Greek government workers plan to disrupt flights and shut down hospitals and schools as protests escalate after 30 billion euros of additional wage cuts and tax increases were unveiled. Ref. Source 1

Greece Business

Greece receives EU funds but huge task ahead
(Reuters)

European Business News
Reuters - Greece received a 14.5 billion euro ($18 billion) loan from the European Union on Tuesday and can now repay its immediate debt, but still faces a mammoth task to claw its way out of recession. Source: Yahoo! News: Business - European Economy

Greece Business Politics Business Civil & History

Greece's economy deeper in recession than forecast:

Record jump in Greek unemployment prompts that crisis could intensify social unrest Ref. Source 3