January 24, 2013 |
ATHENS -- Greece's ruling coalition on Thursday issued an emergency order demanding that striking subway employees go back to work or face massive arrests and potential job losses in the latest labor showdown to grip the beleaguered government. It is the first time that the governing three-party coalition has invoked such an emergency measure in a bid to face down swelling social unrest since taking power seven months ago amid popular anger over additional austerity and fiscal reforms.
January 20, 2013 |
ATHENS - Two security guards were injured in a bomb blast at a shopping center a few miles north of the Greek capital Sunday, stoking new fears of escalating violence and extremism in the economically stumbling nation. The attack on a state bank branch in a massive shopping mall came less than a week after masked men opened fire with an AK-47 and a revolver on the headquarters of the governing New Democracy party, targeting the office of its leader, Prime Minister Antonis Samaras.
January 17, 2013 |
ATHENS - Greek lawmakers voted Friday to launch a congressional investigation of allegations that former Finance Minister George Papaconstantinou tinkered with a list of suspected tax cheats, erasing the names of three of his relatives in the biggest tax-evasion scandal in decades. The 265-6 vote, with three abstentions and some invalid ballots, capped an explosive 14-hour parliamentary debate that kicked off Thursday and put the former political strongman and architect of the country's first austerity program at the center of a murky tale of coverups, intrigue and corruption.
December 31, 2012 |
ATHENS - Greece's ruling coalition on Monday called for a parliamentary probe into allegations that former Finance Minister George Papaconstantinou altered a list of more than 2,000 wealthy Greeks with Swiss bank accounts, deleting the names of three relatives. The move, petitioned by 71 lawmakers from the three-party governing alliance, follows a probe by judicial investigators who found evidence that Papaconstantinou acted in breach of faith and duty while handling a list of potential tax dodgers during his nearly two-year term at the helm of the Finance Ministry.
December 13, 2012 |
LONDON -- European officials Thursday took two more steps in their fight against the region's lingering debt crisis, agreeing on a deal to put big banks under the oversight of a single supervisor and releasing desperately needed loans for Greece to pay its mounting bills. The plan to have the European Central Bank supervise the Eurozone's major financial institutions lays the foundation for a deeper "banking union" across the 17-nation currency bloc, or a harmonization of rules governing the finance sector.
December 5, 2012 |
As the financial crisis has dragged on in Greece, bloody attacks unsettle Iraq and protests simmer after the revolution in Egypt, those and other troubled countries have lagged in corruption rankings, according to a global study released Wednesday. The Transparency International rankings gauge how corrupt each country is perceived to be, based on opinions from independent institutions. The group cautions that its index does not measure corruption itself, but provides a rough measure of expert beliefs about foul play in the public sector in 176 countries.
November 30, 2012 |
New data show the Eurozone crisis' increasing toll on the unemployed, particularly on young workers in Greece and Spain. The youth unemployment rate was worst in the monetary bloc's most financially troubled countries: 57% in Greece and 56% in Spain, according to data released by the official Eurostat agency Friday. In October, 3.6 million workers under the age of 25 were unemployed, up 350,000 from a year ago. The overall unemployment rate in the 17-member bloc rose to 11.7%, from 11.6% in September.
November 30, 2012 |
Financially strapped Greece is seeing a rapid increase in new HIV infections, driven by skyrocketing infection numbers among people who inject drugs, health officials said Friday. More than 300 people who inject drugs were found to be newly infected between January and August of this year, a more than twentyfold jump over two to five years ago, when 10 to 15 such cases were reported annually, according to the European Centre for Disease Prevention and Control. Health officials said by October, HIV infection numbers had ticked even higher, totaling 1,049 new cases, including 487 among intravenous drug users, the Associated Press reported.
November 26, 2012 |
Following the long Thanksgiving weekend, stocks fell in early trading Monday as worries over U.S. fiscal policy and the Eurozone debt crisis upstaged good news about the holiday shopping season. The Dow Jones industrial average fell 74 points, or 0.6%, to 12,936 shortly after the opening bell on Wall Street. The broader Standard & Poor's 500 index lost 6 points, or 0.4%, to 1,404. The technology-heavy Nasdaq lost 2 points, or 0.1%, to 2,965. Major U.S. stock indexes finished one of their best weeks of the year last week, though trading was abbreviated by Thanksgiving and a half-day session with light volume on Friday.
November 13, 2012 |
Stocks turned mixed after European leaders put off an aid payment to Greece, adding to investor worry over protraction of the Eurozone debt crisis. After initially opening lower, the Dow Jones industrial average turn slightly positive. The Dow added 5 points, essentially unchanged at 12,820. The Standard & Poor's 500 index was down 1 point, or 0.1%, at 1,379. The Nasdaq was down 10 points, or 0.3%, to 2,895. European finance ministers meeting in Brussels gave Greece an additional two years to meet conditions of its bailout package, the Associated Press reported.