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Greece

The Takeaway

Poverty and the Economy: Why Aren't We Outraged?

Friday, September 16, 2011

As we've watched the economic crisis unfold in Greece this year, and Greek citizens taking to the streets to protest the financial situation there, we've wondered why the same thing hasn't happened in America. Why haven’t we heard more outrage from the increasingly squeezed American people?

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The Takeaway

Euro Zone Leaders Reassure Greece

Thursday, September 15, 2011

French President Nicolas Sarkozy and German Chancellor Angela Merkel reassured Greek Prime Minister George Papandreou that Greece is an "integral" part of the euro zone during a telephone conversation on Wednesday. As concerns over whether Greece will default on its debt, the Greek government has restated its commitment to meet deficit reductions required by the two bailouts it received from the European Union. The BBC's Steve Evans reports from Berlin, where German citizens are skeptical of bailing out another country.

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The Takeaway

Are the Markets More Volatile Now Than Ever Before?

Monday, September 12, 2011

Economists are predicting yet another week of drama in the Global financial markets. European leaders continue to disagree on the best way to handle the sovereign debt crisis and bail out Greece and other countries needing financial assistance. Meanwhile in the U.S., President Obama hopes his new jobs act will set the economy on a path to recovery — if Congress passes it. All this uncertainty in the political arena does nothing to help steady the markets, which continue to be extremely erratic. The month of August saw stocks in the Standard & Poor’s 500 index lurching hundreds of points within individual days and making huge swings in the course of a week.

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The Takeaway

This Week's Agenda: Irene Aftermath, Unemployment, Greece's Bailout

Monday, August 29, 2011

It's Monday morning, which means it's time to take a look at what's on the agenda for the week ahead. President Obama will be preparing his Labor Day speech on the economy this week, and after after Hurricane Irene's chaotic visit to the East Coast, leaving billions of dollars in damage behind, he may have to rethink what he's going to say. Irene hit at a time when the U.S. economy is continuing to slump and millions are jobless. Unemployment figures will be out on Friday, and the Congressional Budget Office is predicting that employment will not return to normal levels until 2017. Meanwhile Greece, may not receive a bailout from the European Union, as Finland hesitates to approve it. All EU members must approve the bailout, for it to go into effect.

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The Takeaway

Euro Zone Reaches Deal to Bail Out Greece

Friday, July 22, 2011

European leaders came to an agreement yesterday to help keep Greece and the rest of the euro zone from falling further into financial crisis. Greece will receive a second bailout, in the amount of 109 billion euros, or $157 billion. The move by the euro zone comes as Ireland and Portugal are still teetering on economic turmoil. The European Financial Stability Facility, the euro zone's rescue fund, will be given broad new powers to assist countries that have not yet been bailed out. It is unclear how French and German citizens, who have opposed any bailout, will react to the deal.

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The Takeaway

Eurozone Leaders Hold Emergency Meeting in 'Make-or-Break' Moment for Greece

Thursday, July 21, 2011

Eurozone leaders are meeting in Brussels today, for an emergency summit on the looming debt crisis in Greece. Greek Prime Minister George Papandreou called this summit a "make-or-break" moment. Meanwhile, the International Monetary Fund warned that this crisis could spread to the rest of Europe, even if Eurozone leaders prevent a default in Greece.

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It's A Free Country ®

Around the World with Hillary Clinton

Monday, July 18, 2011

Do I think that so far she’s been one of the great Secretaries of State in American history? No I don’t think so. But do I think that she’s been a better-than-average Secretary of State? Absolutely.

Gideon Rose, editor of Foreign Affairs and author of How Wars End: Why We Always Fight the Last Battle, on The Brian Lehrer Show.

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WNYC News

Financial 411: All About Bitcoin

Thursday, June 30, 2011

You can't hold it in your hand. There's no ATM for withdrawals. And it's soaring in value. We'll talk about bitcoin, the new online currency.

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The Takeaway

Member of Greek Parliament Defends Defaulting

Thursday, June 30, 2011

Angry protesters gathered in the streets of Athens yesterday, following a vote on austerity measures which the parliament backed with a vote of 155–138. Was any of this avoidable? Is it possible that Greece’s economy was undone by the structure of the Eurozone’s financial rules that demand strict fiscal requirements, but no political unanimity?

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WNYC News

Financial 411: Pressure on Local Government

Wednesday, June 29, 2011

The big worry last summer was the possibility of states across the country defaulting on their debts.

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The Takeaway

Greece Passes Austerity Meaures Vote

Wednesday, June 29, 2011

This morning, the Greek Parliament voted in favor of a package of austerity measures that includes tax hikes and spending cuts. The vote comes despite two days of protests in Athens, where polls say 80 percent of Greeks were against the measures. The package is an effort to avoid defaulting via a second bailout from the European Union. The vote is being met with violence on the streets of Athens.

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The Brian Lehrer Show

BoA, QE2, EU: What To Do?

Wednesday, June 29, 2011

Nicole Gelinas, contributing editor of the Manhattan Institute's City Journal and author of After the Fall: Saving Capitalism from Wall Street and Washington, and Simon Johnson, former chief economist of the International Monetary Fund and co-founder of the blog The Baseline Scenario, discuss some of the big economic stories in today's news. The Fed's program known as QE2 is coming to an end -- did it work? Bank of America is planning to pay $14 billion back to investors who lost money on mortgage deals gone bad -- is it enough? And what's going on in Greece, exactly?

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It's A Free Country ®

BoA, QE2, EU: What To Do?

Wednesday, June 29, 2011

The problems that came to the surface in 2008 are still there, they’re just lurking not very far beneath the surface.

Nicole Gelinas, contributing editor of the Manhattan Institute's City Journal and author of After the Fall: Saving Capitalism from Wall Street and Washington, on The Brian Lehrer Show.

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The Takeaway

As Greeks Strike, Parliament Remains Calm

Wednesday, June 29, 2011

Greece is preparing this morning to vote on drastic austerity measures that have sparked nationwide strikes and rioting in the country's capital, Athens. 5,000 police were deployed to Athens over the past two days, to combat protesters with tear gas. Meanwhile, the climate inside Parliament is calm as they prepare to vote. If the austerity measures pass, Greece will be able to obtain a second bail-out from the European Union, and avoid defaulting. 

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The Takeaway

Defaulting May Not Be A Greek Tragedy

Wednesday, June 29, 2011

Demonstrators continue to protest in the streets of Athens today, amid violence and tear gas. Many Greeks are not happy with their government's upcoming vote on austerity measures, which would mean higher taxes and many spending cuts. If Greece's government does not pass the austerity measures, though, they would be at risk of not receiving a €12 billion bail-out, and becoming the first eurozone country to default.

 

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The Takeaway

Reports from Athens, In Anticipation of Parliament's Vote

Wednesday, June 29, 2011

As we await the news of the Greek Parliament's vote in Athens on the austerity measures, reporters in the area give us an update on the climate there. 

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WNYC News

Financial 411: Is it Better to Rent, or Buy?

Tuesday, June 28, 2011

Home prices rose slightly in April. But is it better to rent or buy?

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The Takeaway

Greeks Stage Two-Day Strike Against Austerity Package

Tuesday, June 28, 2011

Tens of thousands of Greeks are gathering in the streets of Athens today, as part of a 48-hour strike to protest an austerity package that includes deep spending cuts and higher taxes, and would need to pass in order for Greece to obtain a bail-out from the European Union. Parliament will vote on the austerity package tomorrow. Polls show eighty percent of Greeks are apposed to the package. 

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WNYC News

Financial 411: The Week Ahead in Business

Monday, June 27, 2011

Markets

A bit of hope returned to Wall Street on Monday, after signs that that the debt crisis in Europe could be avoided. That sent stocks up a percentage point. The Dow Jones gained 109 points, to close at 12,044. The S&P 500 gained 12 points, ending at 1,280. And the NASDAQ added 35 points, to finish at 2,688.

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The Takeaway

This Week's Agenda: Afghanistan, Debt, Republicans

Monday, June 27, 2011

Robert Gates will step down as Secretary of Defense this week, with Leon Panetta taking over. Panetta will have a lot on his plate, starting with the start of U.S. troops withdrawing from Afghanistan later this week. Noel King, managing producer for The Takeaway, looks at what obstacles are in store for Panetta as he begins his reign as Defense Secretary. 

President Obama will meet with Congressional leaders to try and come to an agreement on raising the debt ceiling, or face going into default. Charlie Herman, business and economics editor for The Takeaway and WNYC, looks at the economic effects this on-going debate could have if a conclusion is not reached soon. 

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