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Greece Bailout

The Takeaway

This Week's Agenda: Primaries in the South, the GOP and Women, Major Economic Indicators, and Another Greek Bailout

Monday, March 12, 2012

While moderate Republican and independent women express their frustration with the GOP's stance on social issues like contraception, President Obama's reelection team is trying to seize the moment and court female voters for November. Meanwhile, the Republican candidates head south, where primary voters will vote in Alabama and Mississippi on Tuesday. And while the jobs numbers looked promising last week, a number of new economic indicators will tell us much more about the economy this week, with figures on consumer spending, retail sales, and inflation. Finally, Eurozone finance ministers will decide whether Greece deserves a second bailout this week.

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The Takeaway

Greece Averts Immediate Default with Agreement

Friday, March 09, 2012

Almost all of Greece's private creditors have agreed to accept a loss on their investments, leaving their holdings of government debt almost 75 percent less. This new agreement will save the country around 100 million dollars and averts immediate default for the country.

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The Takeaway

A Look at the Markets at Home and Abroad with Joe Nocera

Wednesday, February 22, 2012

Greece has once again narrowly avoided defaulting on their $172 billion debt by agreeing to more austerity measures and selling off profits to euro zone countries. However, it's unlikely this development will ease the dire situation of its population: nearly 20,000 Greeks are homeless and 21 percent are unemployed. Stateside, there were signs of recovery when on Tuesday the Dow hit 13,000 for the first time since 2008. But if the last four years have proved nothing else, it's that what happens across the globe can directly impact a market at home.

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It's A Free Blog

Opinion: After MF Global, Will GOP Candidates Still Insist on Deregulation?

Monday, November 07, 2011

The election of 2012, after all, is about Republican's vision of smaller government and less regulation vs. Obama and the Democrats' “Big Government” and more robust oversight.

-Steffen Schmidt, It's A Free Country blogger.

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The Takeaway

Greece Forms New Coalition Government; Italy's Berlusconi Rumored to Be Resigning

Monday, November 07, 2011

Embattled Greek Prime Minister George Papandreou will resign once plans for a new coalition government are finalized. Papandreou and his political rival, conservative leader Antonis Samaras, reached a deal on Sunday to form a unity government to implement the unpopular austerity measures required by a bailout deal reached with European leaders. The new government is expected to be led by a non-politician who will be named on Monday.

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The Takeaway

Europe on the Brink as Greece Calls Off Referendum

Friday, November 04, 2011

In Cannes, leaders from the world's 20 largest economic nations are meeting to discuss the most pressing fiscal matters across the globe. On top of that list is Greece and the high-stakes political gamesmanship of the country's Prime Minister George Papandreou. Papandreou called off a plan to hold a referendum on his country's loan deal with the European Union Thursday after he gained new support for the deal from the opposition. Greece is in a tense political stalemate as its fate with the euro zone hangs in the balance. Papandreou is trying avoid a economic catastrophe as he faces calls for his resignation and a no-confidence vote on Friday. Papandreou's political brinkmanship has renewed questions about the instability of the euro zone and the destabilizing roles of deeply indebted countries.

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It's A Free Blog

Opinion: Greece Offers Cautionary Tale for Our Economic Foibles

Thursday, November 03, 2011

A fitting analogy for this might be someone who's been eating terribly for decades, and is complaining about the choice between not doing anything following a mild heart attack, and just going on with their life as they were.

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The Takeaway

Greece's Government Teeters Over Referendum Plan

Thursday, November 03, 2011

Greece's ongoing debt crisis and governmental instability has become the focal point of this week's G-20 summit in Cannes, France. A day before a scheduled no-confidence vote in Greek Parliament that could lead to the government's collapse, two ministers have publicly split with Prime Minister George Papandreo over his plan to hold a referendum on a European bailout plan. Finance Minister Evangelos Venizelos and three other ministers are now opposing the referendum, saying Greece's membership in the euro cannot be jeopardized.

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The Takeaway

Bailout Referendum Brings Greek Government to Brink of Collapse

Wednesday, November 02, 2011

World markets plunged Tuesday after Greek Prime Minister George Papandreou announced a surprise plan to hold a national referendum on the proposed European bailout package, bringing the Greek government to the brink of collapse. Several members of Parliament's governing Socialist Party have called on Papandreou to resign, and some members of his own party have called for new elections immediately. A no-confidence vote is scheduled for Friday. Early Wednesday, the Greek cabinet backed Papandreou's referendum plan. Some analysts worry the referendum will bring Greece dangerously close to defaulting on its debt.

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The Takeaway

Top of the Hour: Greek PM Calls for Referendum on Bailout Plan, Morning Headlines

Tuesday, November 01, 2011

Greek Prime Minister George Papandreou announced late Monday that he is calling for a nationwide vote on a European bailout plan. Markets are tumbling this morning on news that the Greek people will have the final say on an economic package agreed to last week by European leaders after months of negotiations. Rachel Donadio, Rome bureau chief for The New York Times, reports on the latest.

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The Takeaway

Greek PM Asks Germany for Assistance

Tuesday, September 27, 2011

Greek Prime Minister George Panpandreou is in Germany to meet with Chancellor Angela Merkel to discuss a new strategy to keep his country from defaulting on its debt. Greece needs a further €8 billion to pay its bills. Without it, hundreds of thousands of civil servants will not get paid. Early Tuesday, Greek Finance Minister Evangelos Venizelos said his country will receive bailout funds.

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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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