October 7, 2013 |
ATHENS -- In the strongest sign yet of economic recovery, Greece's ruling coalition on Monday unveiled a draft budget for 2014 that foresees growth in the country's debt-crippled economy, which is emerging from the doldrums after six years of painful austerity. Initially hit by global market turmoil in 2008, Greece has been at the center of the European Union's debt woes since late 2009, when the government exposed a crushing debt built up during years of dodgy state bookkeeping.
July 13, 2007 |
Many of Greece's most valued ancient statues are wearing chains and padded vests, ready for a rare outing. Culture Ministry officials demonstrated Thursday how more than 300 statues from the Acropolis are being packed for a move this fall to a new museum being built at the bottom of the hill.
January 24, 1988
My fascination with Greece began more than three years ago. I had dreamed of visiting ancient oracles and tried to imagine walking across the land of the gods in the footsteps of history. This year was my third visit. The moment I arrived on Greek soil on a tour, I felt comfortable. Even as a single female, I was at home with the land and its people. I had complete trust, whether with a tour or on my own. When it came time to leave, I left with sadness, but with the hope that I may return soon to be with the many friends I made.
November 12, 2012 |
Stocks edged higher Monday ahead of big meetings in the U.S. and Europe over continued crises: the so-called fiscal cliff and heavily indebted Greece. The Dow Jones industrial average added 15 points, or 0.1%, to 12,830 shortly after the opening bell. The Dow took a beating last week, dropping more than 300 points following election day as investors signaled they expect more gridlock in Washington. Quiz: Test your knowledge of business news The broader Standard & Poor's 500 index rose 3 points, or 0.2%, to 1,383.
September 1, 2006 |
Two ancient Greek artifacts that officials said had been smuggled out of the country came home Thursday as part of an agreement with the J. Paul Getty Museum. A 2,400-year-old, black limestone stele and a marble votive relief dating from about 490 BC went on display at Athens' National Archaeological Museum only hours after being flown in from L.A.
March 28, 2014 |
TourCrafters is offering reasonably priced excursions to Greece that combine a stay in Athens with an Aegean cruise that allows you to sample some of the country's popular islands. The "Iconic Aegean" package includes two nights in Athens, with time to take in the Acropolis as well as an evening of dancing and bouzouki music. The four-day cruise makes stops at Mykonos, Patmos and the Monastery of St. John the Theologian, Rhodes and the village of Lindos and the medieval Old Town, Crete and Santorini.
June 20, 2013 |
Sixty years after leaving destitute Greece to pursue the quintessential immigrant's dream of striking it rich in America, Eftichios “Van” Vlahakis is back trying to do business in his again-impoverished homeland. Vlahakis, who at age 18 arrived in Chicago with a student visa and $23, slept in homeless shelters and did odd jobs at bars and restaurants while earning a chemistry degree at Roosevelt University in the 1950s. But he soon abandoned the toxins and caustic substances in use at his first jobs with companies producing aerosols, polishes and solvents, redirecting his knowledge of the Earth's elements to the creation of environmentally safe cleaning products.
June 20, 2011 |
European finance officials put off a decision Monday on handing debt-laden Greece its next installment of emergency loans, increasing the pressure on Athens to enact new austerity measures and fueling market fears of a national default. Investors had hoped that officials meeting in Luxembourg would approve the payout of about $17 billion in rescue loans to Greece, which desperately needs the money to pay bills that come due next month. But after several hours of talks, finance ministers from the 17 countries that use the euro said early Monday they would release the funds only if Greek lawmakers approve a controversial program of tax hikes and spending cuts to slash the country's mammoth budget deficit.
February 5, 2012 |
Question: What is the anticipated effect of the financial problems in Greece on tourists this summer? Mick Lowry Los Angeles Answer: That's not an easy question to answer, because negotiations over Greece's financial fate continued last week, and the outcome will determine how uncomfortable - or not - life there will be. What has happened to Greece is a bit like what happens to many of us: It borrowed too much money....
June 14, 2011 |
Standard & Poor's downgraded Greece's government bonds, citing a "significantly higher likelihood of one or more defaults" by the Athens government. The credit rating firm's lowering of Greece's rating to CCC from B reinforced a message that has been coming from the bond market since March: There's no way out of the country's debt morass without forcing bondholders to take some kind of haircut. The Mediterranean nation is now the lowest-rated country graded by S&P. Though S&P said it expected more financial help for Greece from the rest of the euro-zone countries, it also said it believes that "some official creditors will see restructuring of commercial debt as a necessary condition to such additional funding.