Greek Debt Crisis
Sunday, June 16, 2013
By WQXR Staff
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.
Thursday, November 03, 2011
The Group of 20 is meeting in Cannes, France, today for the beginning of its two-day summit. The atmosphere surrounding the meeting of the leaders of the world’s largest economies is very tense. Gillian Tett of the Financial Times, and New York Times business and finance correspondent Liz Alderman join us for today’s Backstory and discusses what we can expect out to come out of the summit and whether the G-20 summit can help address the Eurozone debt crisis.
Wednesday, November 02, 2011
Greek Prime Minister George Papandreou's surprise announcement that Greece will vote on its planned bailout has sent world markets into a tailspin. Analysts worry the planned referendum will undermine the agreement reached at meeting of European leaders in Brussels last week and bring Greece dangerously close to defaulting on its debt. In the U.S., brokerage firm MF Global filed for bankruptcy on Monday, in part due to bad bets made on European debt. Traders, however, say worries about the euro zone are primarily responsible for the volatility.
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.
Wednesday, September 28, 2011
The Greek Parliament passed an extraordinarily unpopular new property tax on Tuesday, prompting Greeks to once again take to the streets in protest of yet another austerity measure. The tax, which would raise €2 billion this year alone, was seen as a necessary to secure international financing to help Greece avoid defaulting on its debts. Elena Panaritis, a Greek MP from the ruling PASOK party, discusses why she voted for the tax.
Monday, September 19, 2011
While hundreds of leaders from around the world are in New York this week at the United Nations, Greece's prime minister, George Panpandreou will be conspicuously absent. Panpandreou cancelled his planned trip to the U.S. this week to stay at home and deal with his country's rapidly deteriorating debt crisis. This morning, European stock markets fell sharply as tensions mount over Greece's inability to solve its problems. Yanis Varoufakis, professor of economic theory at the University of Athens, has the latest on the story.
Tuesday, August 09, 2011
By Steffen Schmidt : IAFC Blogger
-Steffen Schmidt, It's A Free Country blogger.
Thursday, July 21, 2011
On Thursday, the European Council held an emergency meeting to discuss the debt problems that several Eurozone countries—including Italy, Greece, and Portugal—are facing. On today’s Backstory, Iain Begg, Professorial Research Fellow at the European Institute at the London School of Economics, discusses what happened at the meeting and how the continuing economic problems are affecting the entire Eurozone.
Wednesday, June 22, 2011
European Union Commission President Jose Manuel Borroso believes next week will be the "moment of truth" for the Greek government. Prime Minister Papandreou is facing a tough battle to secure parliamentary backing for further austerity measures. The economic instability continues to cause ripples across the world—including here in the U.S. within the Greek-American community.
Friday, March 11, 2011
By Ilya Marritz
Expatriate Greeks and Greek-Americans are being asked to use their savings to help their fiscally-challenged motherland.