Greek coalition gov't talks collapse

ATHENS, May 11 (Xinhua) -- Marathon talks among parliamentary parties in debt-ridden Greece for the formation of a coalition government after the May 6 general polls collapsed on Friday, with the prospect of fresh elections in June seeming more likel

Road to recovery now open: Greek PM

Road to recovery now open: Greek PM

Doubts Grow Over Austerity for Greece

With the European Union demanding more spending cuts from Greece in return for billions of dollars in bailout funds, doubts are growing over whether more austerity is the right solution for Athens. Some analysts and politicians suggest that a once wo

Greek Doctors Warn of ‘Health Catastrophe’

Doctors in Greece are warning of an impending health catastrophe brought about by the financial crisis. They say government cuts mean patients are unable to afford treatment, while hospitals are facing staff cutbacks and shrinking budgets for medicin

Eurozone Braces for Greek Election

PARIS - Eurozone countries will be anxiously watching the outcome of second-round of legislative elections Sunday in Greece, which may determine the country's future role in the eurozone. Greek voters will be choosing between parties that call for tw

Greece Faces New Austerity Hurdles

The European Union's top economic official says he expects eurozone finance ministers to sign off on the payout of $17 billion in aid for Greece on Sunday and decide on a new bailout in July. The news comes on the heels of the prime minister of Greec

Greece Could Get New Bailout Assistance

The Greek government is moving toward restructuring its debt and could soon win approval for another $85 billion or more in international financing. News agencies reported on Tuesday that a year after Athens arranged a $158 billion bailout, the debt-

No Agreement on Greece by Eurozone Ministers

Eurozone finance ministers are again telling Greece that the next vital loan installment is only payable when the Greek parliament passes economic reforms. The ministers ended their meeting early Monday in Luxembourg with no final agreement on the ne

EU Leaders Agree on Second Bailout for Greece

Stock markets rallied Friday after European Union leaders agreed on a new bailout for Greece, provided that Athens commits to more austerity measures. But the Greek deal fails to address fundamental problems threatening the future of the 17-member eu

Greece Appoints Caretaker PM, Sets Date for New Elections

Greece has sworn in a senior judge as the country's new caretaker prime minister. Council of State head Panagiotis Pikrammenos was appointed Wednesday after major political parties failed to form a coalition government following several attempts to b

Greece optimistic over debt buyback scheme

ATHENS, Dec. 7 (Xinhua) -- Greek finance ministry officials appeared confident over the outcome of the debt buyback plan shortly before the Friday evening deadline, expressing optimism that targets set would be reached and the country's debt burden w

Key European Banks Face Greek Debt Worries

Key European banks are facing new financial worries over their Greek debt holdings, with the Belgian-French bank Dexia struggling to avoid collapse. Shares of Dexia stock plummeted Tuesday to an all-time low of less than one euro (less than $1.32), e

Greek Political Turmoil Raises Concerns of Eurozone Exit

The political turmoil in Greece over the creation of a coalition government is raising concerns anew that the country could become the first to exit the 17-nation euro currency bloc. The Athens government avoided a eurozone exit twice in the last two

Greek caretaker government sworn in ahead of June polls

ATHENS, May 17 (Xinhua) -- A new Greek caretaker government was sworn in on Thursday, expected to be dissolved in record time as the country heads for fresh polls in June. Following inconclusive general elections on May 6, the ministers took their oa

Greek Leader Warns of 'Uncontrolled Default'

Greek Prime Minister Lucas Papademos says his country faces an uncontrolled default unless worker unions and employers can agree on wage cuts to boost Greece's economic competitiveness. The interim Greek leader met with labor leaders and business rep

German FinMin urges Greek opposition to back reforms

BERLIN, Jan. 14 (Xinhua) -- Germany's Finance Minister Wolfgang Schaeuble on Monday urged visiting Greek opposition leader Alexis Tsipras to support austerity measures and economic reforms. Schaeuble told Tsipras, a critic of the German-backed auster

Greece to Seek Delay in Austerity Measures

With its economy crumbling, Greece has decided to ask its European neighbors for a two-year extension to 2016 to carry out its latest austerity program. New Greek Prime Minister Antonis Samaras plans to travel to Paris and Berlin next week to meet wi

Greece to Vote in Another Parliamentary Election

Greek voters will cast ballots Sunday in the second parliamentary election in the past six weeks. Observers worldwide will be watching the poll which is seen as a referendum on the euro currency. Greek soup kitchens reflect the growing poverty in the

Greece Nears Debt Write-Off Goal

Greece is nearing its goal of getting the country's private lenders to eliminate $142 billion of the country's debt to help it avoid a default on its financial obligations later this month. A government official told news agencies Thursday in Athens

Mixed reactions in Greece over new EU deal

ATHENS, Oct. 27 (Xinhua) -- A new deal reached early Thursday at the European Union summit in Brussels to tackle the Greek debt crisis and avert contagion across the eurozone was met with mixed reactions in Greece. Opposition political parties, media