Greece: Model of Socialistic Excess
Ross Mackenzie

Greece is one of the poorest kids on the European bloc. It also is one of the most carelessly socialistic, which largely explains why it is so poor. The birthplace of democracy, today it is a model of socialistic excess. Unable to reduce its debt by inflating its own currency, Greece has had to call upon other EU countries to bail it out.

Greece Financial Crisis Raises Doubts About European Union
Bonnie Erbe

The European Union's woes over Greece's financial crisis strikes me as neither odd nor unexpected

Muddling through Greece's Tremors
Marc Levinson

Global markets plunged as investors continued to react with nervousness to the prospects of Greek's debt crisis spreading to other countries on the European Union's periphery. This is primarily because Greece remains in a murky situation despite its parliament's approval of tough new austerity measures linked to its bailout

Delphi

Exploring Greece's Ancient Past: Delphi, Epidavros & Mycenae
Rick Steves

When traveling in a country as old as Greece, ancient ruins can quickly go from magnificent to mind numbing. However, three of my favorite ruins are Delphi, Epidavros and Mycenae. All are within three hours of Athens -- and all are well worth the trek.

Greek Financial Debt Crisis Only Part of EU's Woes
William Pfaff

Today's European crisis has been precipitated by Greece acting with possibly reckless honesty, and Germany behaving badly toward Greece. The latter a case of the pot calling the kettle black; Germany itself is running a deficit of some 3 percent over the EC stability pact limit -- promising, like Greece, to do better in the future.

On the Job
Andy Rooney

There's a story in the newspaper that says a lot of people in Athens, Greece, are retiring when they're 50 years old, contributing to a massive debt crisis. The Greek government has determined that if you have a certain job which could have deleterious effects on your health, you have the right to retire at 50 with your full pension.

How Greece's Debt Crisis Affects America
Matthew Bandyk

Greek Prime Minister George Papandreou traveled to the United States to promote a message: We're in this together. The debt crisis that has threatened the Greek economy and the stability of the European Union's monetary policies very much involves America's interests, Papandreou stated in a speech at the Brookings Institution in Washington.

Euro's Fiscal Policy Will Give Pause to Reserve-Currency Allocators
Ian Bremmer & Jon Levy

The Greek crisis is making clear a reality long ignored or glossed over: Eurozone fiscal policy is messy and opaque. This is not a short-term phenomenon, nor can any concerted action change this fact. Global central banks, sovereign wealth firms and other major entities are going to revise their currency-allocation strategies based on this new recognition.

In World's Economic Crisis, Competition in Ignominy Remains Keen
William Pfaff

I read about the vultures making serious money out of the poorest national economies in the current international crisis. They buy debt from very poor countries in the expectation that generalized debt relief will eventually be organized by the international community. These speculators then elude such debt settlements through various subterfuges, mainly by reassigning the debt

Economic Risk in Greece and Other Countries Spooking Investors
Matthew Bandyk

Despite federal spending consuming 27.2 percent of GDP, the United States maintains a Aaa rating. But you can't say the same about Greece and many other countries in both the developed and developing world where continued fallout from the economic crisis is hurting their credit ratings. As a result, investors have viewed the economic situations in these countries as increasingly risky bets.

Brit primary schools to teach ancient Greek language
British state primary schools are set to teach ancient Greek to children in a bid to boost their language skills.

Two dead in Greek army helicopter crash
Two Greek army pilots were killed on Friday when their Apache attack helicopter crashed near Athens, the defence minister said."I express my deep grief over the tragic death of two select members of t...

Greece and the Power of Negative Thinking
Once the cradle of European civilization, Greece is now at the epicenter of Europe’s economic crisis. The now-fading consensus in the market and among opinion-makers was that Greece is likely to...

Society Begins to Crack Under Harsh Measures
ATHENS, Jul 30, 2010 (IPS) - Every working day, more than a hundred people crowd around the entrance of the merchant and passenger boats' reconstruction industry, well known as 'The Zone', in the so...

2 dead in Greece in Apache helicopter crash
Megara army , Greece , ATHENS ATHENS, Greece - State-run television in Greece says two people have been killed after an Apache attack helicopter crashed at a military base west of Athens. The army air...

0043 Greek truckers extend strike, call Friday meeting
TOKYO, Jul 30, SPA -- Japanese Prime Minister Naoto Kan said on Friday he remained committed to fiscal reform despite his ruling party's defeat in this month's election, adding that he will fo...

One in 5 Greek Workers Works for Government
Nearly one out of every five people with a job in Greece works for the government, according to a census completed on Friday under the terms of an EU/IMF bailout for the debt-laden country.

Greek hauliers defy strike order
Lorry drivers in Greece have defied an emergency order imposed by the government to end their strike, as the country's fuel shortage worsens.

Greek truckers ponder more action as strike hits
Greek truck drivers are to decide whether to pursue a strike or return to work after thousands took action earlier this week, disrupting supplies across the country. They are protesting at plans to i...

Alternate Foreign Minister Dimitris Droutsas met on Friday with the UN secretary general's special advisor on the Cyprus issue
ANA-MPA/Alternate foreign minister Dimitris Droutsas met on Friday with the UN secretary general's special advisor on the Cyprus issue Alexander Downer, with whom he discussed the ongoing UN-mediated ...

Greece's Civil Servant Number At 768.009
The number of the civil servants in Greece comes at 768.009, an official countdown showed. The data released by ministers of Finance and Interior showed that four out of ten employees have university ...

Behind Greek Confidence, Still Fears of Collapse
The institutional trio made up of the International Monetary Fund, the European Commission and the European Central Bank is in Athens to measure progress on the severe austerity and reform package to ...

Main opposition New Democracy leader Antonis Samaras addressed supporters on the eastern Aegean island of Lesvos
ANA-MPA/Main opposition New Democracy (ND) leader Antonis Samaras addressed supporters on the eastern Aegean island of Lesvos on Thursday evening, saying that the current economic crisis was the crisi...

The impasse between government and striking truck owners, the labour unions' recourse to the Council of State
The Friday edition of Athens' dailies at a glance The impasse between government and striking truck owners, the labour unions' recourse to the Council of State against the Memorandum and the new bil...

Cesar Cielo Wraps Up Meet With Strong 100 Free
By David RiederATHENS, Georgia, July 18. WORLD Record-holder Cesar Cielo wrapped up a strong meet at the USA Swimming Sectionals in Athens with a win in the men's 100 free, while U.S. Olympian Ama...

Piraeus unable to pay its debts
The mayor of Piraeus, Panayiotis Fasoulas, informed municipal employees yesterday that City Hall would be stopping all payments following a central government decision to stop funding the debt-ridden ...

Periklis Iakovakis made it to the final
EMILIO NARANJA/EPAGreek 400-meter hurdler Periklis Iakovakis yesterday made it to the final of his event at the European Athletics Championships in Barcelona. Iakovakis, the 2006 European champion, qu...

Still no gas, as truck drivers put foot down
MICHALIS KARAGIANNIS/PHASMAA truck driver peers from under a banner outside the Transport Ministry in Athens yesterday. Some 500 truckers from various parts of Greece had gathered there to protest the...

Unions appeal wage and pension cuts
A slew of legal challenges against austerity measures adopted by the government as part of an emergency loan agreement it signed with the European Union and the International Monetary Fund were lodged...

High winds fan Samos wildfire
Strong winds last night were hampering a major operation to extinguish a wildfire that was burning for a second day on the northern Aegean island of Samos.The blaze began in the area of Kokkari late o...

Revenues grow at IKA and OAEE
Labor Minister Andreas Loverdos (right) speaks with Deputy Economy Minister Filippos Sachinidis. Loverdos later met with representatives from the European Commission, the International Monetary Fund a...

Main index rises above 1,700 pts
Most Greek stocks headed north yesterday and the main index cleared the 1,700-point level thanks to the optimistic atmosphere created by the positive feedback of the visiting European Union, European ...

Solutions sought for PPC plant sale
CHRYSSA LIAGGOUThe leadership of the Environment and Energy Ministry is seeking alternative ways that would be less painful politically for the opening up of the electricity market, ahead of the meeti...

Turkish, Greek Cypriot leaders discuss property issue
NICOSIA, Cyprus -- President Demetris Christofias and Turkish Cypriot leader Dervis Eroglu met on Wednesday (July 28th) as part of ongoing talks to reunify the divided island. The two officials discus...

Athens police fire tear gas at striking truck drivers
ATHENS, Greece -- Police used tear gas Thursday (July 29th) to try to disperse hundreds of striking truck drivers who are defying an emergency back-to-work order issued by the government. The strike, ...

Service and Greek fare at modest prices greet guests at Mill Creek's Kaf Neo
It's the dinner rush at Mill Creek's Kafé Neo. A young hostess with dark bangs framing a perfect porcelain-doll face shows discretion beyond her years as a family of three crankily debates the ques...

Truck Drivers in Greece Defy an Order to End Their Strike
More than 30,000 truck drivers walked out on Monday to protest plans to slash trucking license prices as part of Greeceâ??s financial rescue package....

Greek Island of Mykonos was one of the celebrity haunts this summer.
Sep 20, 2008, 16:35 Greek Island of Mykonos was one of the celebrity haunts this summer. The Greek Islands have always had a romantic feel to them. Crystal clear waters, beautiful scenery and a very l...

Athens International Airport - January ' June traffic
-� � � � � � � With 7.2 million passengers in the 1st semester, AIA traffic at 2009 levels (+0.1%) -� � � � � � ï¿&...

Truck Drivers in Greece Defy an Order to End Their Strike
ATHENS (Reuters) — Greek truck drivers defied an emergency government order Thursday to end their strike and return to work. The country’s 33,000 licensed truck drivers walked out on Mond...

Greeks adjust to PM's elimination of untaxed 'shadow' economy
When people come into the tiny store on the corner of the main street in this working-class town near Athens to buy a newspaper or a package of cigarettes, these days they’re greeted with an unf...

Greeks adjust to PM's elimination of untaxed 'shadow' economy
When people come into the tiny store on the corner of the main street in this working-class town near Athens to buy a newspaper or a package of cigarettes, these days they’re greeted with an unf...

Greek unions challenge austerity measures as strikes continue
Greek labor unions representing civil servants, lawyers and journalists submitted Thursday the first joint legal challenge against the government's austerity measures.The Athens Bar Association filed ...

Ongoing measles outbreak in Greece, January-July 2010
A measles outbreak (126 reported cases to date) has been ongoing in Greece, since January 2010, originally related to the recent outbreak in Bulgaria. Cases are mostly unvaccinated, and mainly belong ...

Ancient Greek 'to be taught in state schools'
The Iris Project, a charity campaigning for the teaching of the Classics, which is leading the latest drive, said the subject had substantial knock-on benefits across the curriculum. Lorna Robi...

Greece's big debt denial
Greek finance minister George Papaconstantinou arrives to a press conference on progress made in the Greek economy. By Dody Tsiantar, contributorJuly 22, 2010: 5:49 AM ET (FORTUNE) -- Will Greece be a...

Rosetta Genomics Names Genekor S.A Exclusive Distributor for Three microRNA-based
Let the jobs come to you! Rosetta Genomics, Ltd. (NASDQ:ROSG), a leading developer of microRNA-based molecular diagnostics, and Genekor S.A, a leading molecular diagnostic service provider in Greece, ...

Greece's national strike threatens chaos for British tourists
Greece for their summer holiday tonight risked becoming caught up in the chaos of a nationwide strike by protesting truck drivers that is threatening fuel, food and medical shortages across the countr...

Archbishop Iakovos And His Last Two Books
ARCHBISHOP IAKOVOS AND HIS LAST TWO BOOKS The last two volumes of writings of Iakovos, the late Archbishop of North and South America, were recently published. The first volume, in Greek, Proso...

A marathon to sprint
s the summer holiday season gets under way in a Greece slumped in recession, strik­ ing truck drivers this week paralysed the country, cutting off fuel and food supplies. Air traffic controllers ha...

Strikers ordered back in Athens
The Greek capital was tense Thursday after the government ordered truck drivers back to work following a three-day strike. Striking workers threw rocks and plastic bottles at the gates of the transpor...

Turkish, Greek Cyprus form joint crime info center
Turkish and Greek Cypriot law enforcers have set up a joint information centre on the divided island to fill a policing gap fostered by years of estrangement. Turkish and Greek Cypriot law enforcers h...

Greek FM to visit Belgrade and Priština
Greek Alternate Foreign Minister Dimitris Droutsas will visit Belgrade and Priština on July 30 and 31. Reports said that he would convey a message that the future of the region lies in the European...

Parliament passes laws on salary raises, exploiting state assets
Parliament on Thursday passed legislation that will freeze the powers of labour arbitration tribunals to award salary increases for a year, even in the private sector. Also passed were measures giving...

Ten professional organisations on Thursday filed a petition with the Council of State against the government's austerity measures.
with the Council of State (CoS) on Thursday demanding that the economic measures imposed by the government be declared void, characterized as unconstitutional and in violation of the European legislat...

Stocks resumed their upward trend on Thursday, after Wednesday’s mild correction, with the composite index surpassing the 1,700 level.
Greek stocks resumed their upward trend on Thursday, after Wednesday’s mild correction, as buyers took the upper hand in the market pushing the composite index above the 1,700 level. The index rose ...

What Do Blogs About Greek Finances, Marijuana and Steve Jobs Have in Common They're
When the Greek debt crisis rattled global financial markets in the spring, few saw it coming. But readers of Palisades Hudson Financial Group's blog weren't terribly surprised because Jonathan Bergman...

Piraeus unable to pay its debts
The mayor of Piraeus, Panayiotis Fasoulas, informed municipal employees yesterday that City Hall would be stopping all payments following a central government decision to stop funding the debt-ridden authority. Addressing a press conference, Fasoulas requ... ...

Periklis Iakovakis made it to the final
Greek 400-meter hurdler Periklis Iakovakis yesterday made it to the final of his event at the European Athletics Championships in Barcelona. Iakovakis, the 2006 European champion, qualified with the eighth-fastest time of 50.33. The final takes place tomo... ...

Still no gas, as truck drivers put foot down
Hopes that gas stations would begin serving customers again yesterday after the government issued a civil mobilization order to force truckers back to work were doused when the drivers refused to comply. Dozens of truck drivers gathered in front of the Tr... ...

Unions appeal wage and pension cuts
A slew of legal challenges against austerity measures adopted by the government as part of an emergency loan agreement it signed with the European Union and the International Monetary Fund were lodged yesterday with the Council of State, the country's hig... ...

High winds fan Samos wildfire
Strong winds last night were hampering a major operation to extinguish a wildfire that was burning for a second day on the northern Aegean island of Samos. The blaze began in the area of Kokkari late on Wednesday and had spread to other parts of the islan... ...

While they were on television...
Yesterday's incident involving striking truck drivers revealed the complete lack of preparation of many state services to respond to a call for civil mobilization. According to every report made on the government's decision to force truck drivers back to ... ...

The Greek paradox
A couple of days ago, it was Transparency International, a month ago it was Public Administration General Inspector Leandros Rakintzis, and three months ago it was the American Brookings Institution that pointed out the same Greek paradox: Four separate s... ...

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Revenues grow at IKA and OAEE
The representatives of Greece's foreign creditors, the European Commission, the European Central Bank and the International Monetary Fund, were reportedly impressed during their visit to the Labor Ministry yesterday, as they learned that Social Security F... ...

Main index rises above 1,700 pts
Most Greek stocks headed north yesterday and the main index cleared the 1,700-point level thanks to the optimistic atmosphere created by the positive feedback of the visiting European Union, European Central Bank and International Monetary Fund representa... ...

Furniture industry declining
The declining course of the furniture industry in Greece continued in the first five months of this year, although losses are smaller compared to last year. Hellenic Statistical Authority data indicate that production volumes declined by 8.8 percent in th... ...

Hospitals start to tighten belts
Hospitals' debts to their suppliers have soared by 1.2 billion euros since the start of the year, official Health Ministry figures have shown. Monthly spending on pharmaceuticals and related products came to 179.4 million euros in the January-June period,... ...

Solutions sought for PPC plant sale
The leadership of the Environment and Energy Ministry is seeking alternative ways that would be less painful politically for the opening up of the electricity market, ahead of the meeting today with the representatives of Greece's creditors. The experts f... ...

In Brief
CCH Q2 misses forecast mark due to recession, one-off tax Coca-Cola Hellenic (CCH) reported weaker-than-expected second-quarter profits, as recession at home and fiscal tightening in Europe continued to hurt demand for its products. The economic downturn ... ...

Turkey refuses to open airspace to Cypriot planes
NICOSIA, Cyprus -- Turkey denied a request Tuesday (July 27th) by Cypriot aviation authorities to use the country's airspace, given ongoing strikes b...

Bulgarian, Greek cabinets hold joint meeting
SOFIA, Bulgaria -- The cabinets of Bulgaria and Greece held a joint meeting in Sofia on Tuesday (July 27th), where Bulgarian Prime Minister Boyko Bor...

Terror group says it killed Greek journalist
ATHENS, Greece -- The terror group Sect of Revolutionaries has claimed responsibility for the recent murder of journalist Socratis Giolias in Athens,...

Troktiko shuts down after founder murdered
After the murder of Sokratis Giolias founder of Troktiko news blog on the morning of July 19th Troktiko blog has submitted what is labelled as its last post online. Entitled The last post of Troktiko - Goodnight Greece the post reads: Goodnight Greece the land that gave birth to democracy has resulted...

Troktiko alleged founder Sokratis Giolias gunned down in cold blood
The Greeknbsp;public and journalist communitynbsp;is in shock this morning after Sokratis Giolias was gunned down this morning at 05:25 at the foot of his doorstep. Giolias a renowned nbsp;journalist who was allegedly one of the founding members of the Troktiko blog which is most-visited news source in Greece was reportedly...

Bankers optimistic about future in Greece
Greek banks surged on 15 July after Piraeus Bank put forward a proposal to acquire state-owned ATEbank and Hellenic Postbank. Piraeus Bank chairman Michalis Sallas announced the proposal for the Groups acquisition of major stakes in the two banks. Sallas announced Piraeus Bank Groups intention for a simultaneous and coordinated...

Papandreou refers to global income redistribution
Exiting the economic crisis will require a redistribution of income on a European and global level Greek Prime Minister and Socialist International SI President George Papandreou stated on 12 July. He was speaking after a meeting of SIs Commission on Global Financial Issues headed by economic Joseph Stiglitz on the...

E-tax statements increase sharply   
Greek taxpayers are increasingly using the Greek Finance Ministrys electronic network services for their transactions with tax bureaus. The number of tax statements electronically submitted this year jumped 57% compared with 2009 and were up 94% compared with 2008 accounting ANA-MPA for more than 20% of annual tax statements a...

EIB bolsters key investments with €2 billion loan
The European Investment Bank said on 1 July it is lending a total of €2 billion for key investments in Greece its largest ever loan in Greece. Through its multiplying effect the loan will support the recovery and will accelerate transition to a smart sustainable and inclusive growth path. It...

Minister presents fiscal management legislation
Greeces Finance Minister George Papakonstantinou on 28 June presented a ministry legislation aimed at drastically changing ways of drafting executing and monitoring state budgets through the creation of modern fiscal rules and principles in managing public money. Presenting the new legislation titled Fiscal management and responsibility to Parliament the minister...

Retail sales turnover down
The turnover index in Greeces retail sector fell 0.4% in April compared with the same month last year after a decline of 14.2% recorded in April 2009 the Hellenic Statistical Authority said on 30 June. The statistics service also announced that the volume index in the retail sector dropped 5.8%...

Car registrations drop 54.1% in May
New car registrations plunged 54.1% in May compared with the same month last year with the car market suffering more than any other commercial sector of the Greek economy the Association of Car Importers and Dealers said on 30 June. The association said that a free fall in the car...

Papandreou defends measures on transparency
A draft bill dubbed Program Clarity prompted heated arguments when it was tabled in Parliament on 30 June including an intervention by Greeces Prime Minister George Papandreou in defense of government measures. The common denominator in all that we do is transparency everywhere. All our choices are aimed at one...

Athens area beaches declared safe clean
All organized beaches in Greeces Attica prefecture are suitable and safe for swimming the east Attica prefecture department for health announced on 1 July after testing 112 samples of sea water taken from beaches around the Greek capital last month. The test samples taken also included several popular beaches near...

Papandreou Erdogan highlight further boost of relations
Turkish Prime Minister Tayyip Erdogan highlighted the further boosting of Greek-Turkish relations in talks he held with Greek Prime Minister George Papandreou in Istanbul on 23 June on the sidelines of a Southeast European Cooperation Process SEECP summit. Erdogan mentioned the importance of the implementation of the agreements signed during his...

Papaconstantinou backs social security draft law
Greek Finance Minister George Papaconstantinou defended a government-sponsored social insurance draft law speaking on 23 June before a relevant Parliamentary committee. Papaconstantinou briefed the committee over new social insurance reforms focusing on the leveling of retirement age for men and women employed in the vast public sector and clarified that...

Current accounts deficit increases
Greeces current accounts deficit worsened in the January-April period totaling €12.9 billion up 25.5% compared with the corresponding period last year reflecting a significant decline in current transfers from the EU to the general government €232 million in the four-month period from €2.27 billion in 2009 . Greeces trade deficit...

Greek Day at Expo 2010 in Shanghai
Greece looks to greater cooperation with China in the areas of tourism and shipping and hopes to attract Chinese investment to Greece Economy Competitiveness and Shipping Minister Louka Katseli said on 19 June during a press conference in Shanghai during Greek Day at the EXPO 2010.  Speaking at the Greek...

Athens Beijing sign 14 bilateral agreements
Greek Deputy Prime Minister Theodoros Pangalos and his visiting counterpart Zhang Dejiang on 15 June agreed in Athens to enhance bilateral cooperation in various areas including economy education culture and international affairs. Pangalos hailed China-Greece relations as excellent saying Greece will continue to strengthen its strategic relations with China and...

Greece unveils law making layoffs easier
Greece unveiled a draft law that will make it easier for employers to make staff redundant and allow for lower compensation reports said on 17 June. Greeces main private sector union GSEE which represents about two million workers condemned the proposed changes as unacceptable and unconstitutional and vowed to challenge...

PM says hospital suppliers try to blackmail the govt
Greek Prime Minister George Papandreou addressing a cabinet meeting on 16 June denounced an attempt by hospital suppliers to blackmail the government. The prime minister said that negotiating that took place with the suppliers was tough adding that in the past years when they had remained unpaid they had not...

Birbili outlines plan for Athens-Attica
Greek Environment Energy and Climate Change Minister Tina Birbili on 15 June presented a program for the environmental management of Athens and Attica in 2010-2014 outlining the ministrys priorities for the capital and surrounding countryside. These included arresting the spread of urban sprawl to rural areas of Attica outside the...

Athens Tripoli sign economic cooperation pact
A strategic economic cooperation agreement between Greece and Libya was signed on 9 June following a meeting between Greek Prime Minister George Papandreou with Libyan leader Muammar Gaddafi in Tripoli. Libyan Prime Minister Al-Baghdadi Ali al-Mahmoudi spoke of a historic day while he said that the instruction given by Gaddafi...

Papandreou dismisses bankruptcy rumors
Greek Prime Minister George Papandreou addressing the intra-institutional body that convened under his chairmanship on 8 June stressed that Greece is safe. Without the mechanism we would still be at the mercy of rumors and statements today. We are saving Greece with our decisions and in parallel we are rebuilding...

Economy shrinks 2.5% in Q1
The Greek economy shrank by 2.5% in the first quarter of 2010 reflecting a significant decline in investments and consumption in the country the Hellenic Statistical Authority said on 9 June. The statistics service in a report revised downwards its initial estimates for the countrys Gross Domestic Product 2.3% after...

Katseli discusses lifting of cabotage
Greek Economy Competitiveness and Shipping Minister Louka Katseli participated in an inter-ministerial meeting held at the Maximos Mansion on 7 June on the issue of cabotage. As you are aware the direction given by the prime minister and his announcement is that we must proceed swiftly with the lifting of...

Ukraine to broaden trade economic ties with Greece
Meeting Greek President Karolos Papoulias on 6 June at the presidential mansion in Athens Ukrainian President Viktor Yanukovich said that his country wishes to broaden economic cooperation with Greece. Ukraine wishes to broaden trade and economic cooperation with Greece which have reduced because of the world economic crisis Yanukovich told...

Belgrade Athens reaffirm excellent relations
Greek President of the Republic Karolos Papoulias on 1 June met with visiting Serb President Boris Tadic during the latters two-day official visit to Greece. During their meeting they discussed Serbias European prospects Kosovo the dispute over the name of FYROM and bilateral economic and cultural relations. In statements afterward...

Papandreou determined to end corruption
Greek Prime Minister George Papandreou recently stressed his governments determination to put an end to corruption wherever it may be during a visit to Komotini. The government had to change in order for the truth to shine. This government will not suffice with just the appearances. The citizens realise this...

Massive logistics center tender announced
GAIAOSE SA a subsidiary of Hellenic Railways SA on 1 June unveiled the terms of an open international tender for the construction of a logistics center in the Thriasio Pedio of western industrialized Attica. The logistics centre an ambitious pioneer project for Greece will be built on GAIAOSE property extending...

More Russian tourists expected this summer
Numerous Russian websites are urging Russian travelers who are preparing to embark on their summer holidays to choose from among the limitless beauties of Greece as their destination. One of the oldest such sites www.Greek.ru which according to its creator Roman Simkin is the most popular Russian-language site on Greece...

Retail sales increase in March
Greeces retail volume index turnover in fixed prices including fuel- rose 10.1% in March compared with the same month last year after a decline of 18.7% recorded in March 2009 the Hellenic Statistical Authority said on 1 June. The statistics agency in a report attributed this result to an 18.5%...

Credit expansion rate drops
Credit expansion rate slowed further in Greece in April to 3.2% from 3.5% in March and 4.2% in December 2009 the Bank of Greece announced on 31 May. The central bank in a monthly report said credit expansion slowed both towards enterprises and households in the month. New funding to...

EIB backs new energy investments in Greece
Investing in the Greek energy sector will counteract a debt crisis and reduce the burden on the environment the European Investment Bank said. Greek President Karolos Papoulias met with EIB Vice President Plutarchos Sakellaris in Athens on 26 May. The same day the EIB said it would provide a total of €400...

Doha Forum to focus on EU-Gulf countries ties
European Parliament Vice President Rodi Kratsa from Greece was expected to participate at the international conference Doha Forum on Democracy development and free trade on 31 May-3 June at Qatars capital city Doha. The Doha Forum is an annual international conference that takes place under the auspices of Emir of...

Papandreou focuses on competitiveness
Chairing a cabinet meeting on 26 May that focused on ways to boost Greeces competitiveness Prime Minister George Papandreou stressed that this was a key issue for Greece that Europe would be unable to tackle effectively. According to Papandreou the route to raising Greeces competitiveness would be to substantially improve...

Papandreou discusses Euro-Med Cooperation
Greek Prime Minister George Papandreou met his Lebanese counterpart Saad Hariri in Beirut on 20 May for talks that focused mainly on bilateral economic cooperation. In statements afterward the two premiers said their meeting had been very constructive and had led to agreements on important issues. Papandreou reported great interest...

Burgas-Alexandroupolis meeting in May
The Greek government on 20 May announced that a high-level meeting will take place later in May with Bulgarian representatives to focus directly on a still pending environmental study for the Burgas-Alexandroupolis oil pipeline project. Speaking in Parliament during debate on a tabled question regarding the pipeline Greek Deputy Environment...

Kratsa calls for de-pollution of the Mediterranean
The Vice-President of European Parliament Rodi Kratsa participated in the official events for the establishment of the European Maritime Day on 20 May not only representing the European Parliament but also as the MEP who had the initiative of the establishment of the European Maritime Day during her previous parliamentary...

Athens gets a taste of New York style bagels
Greece might be facing economic woes but New York City native and Athens resident Leo Gavallias and his new venture Leos House of Bagels is unfazed by it. He officially launched his bagels at a well-attended party in Metaxourgeio in downtown Athens on 10 May. US Ambassador to Greece Daniel...

The fifth estate: A rogue rodent
The Greek and by extension the European economies are facing difficult times. The Greek political situation has followed suit with political parties facing the impossible task of sacrificing peoplersquo;s hard earned finances for the good of the economy. This article is not about judging the politicians who have pocketed millions...

Erdogan Papandreou launch top Strategic Cooperation Council
Greek President Karolos Papoulias on 14 May expressed hope that Turkish Prime Minister Recep Tayyip Erdogans visit to Athens will have positive results and reinforce the climate of cooperation and good neighborliness in greeting the Turkish premier at the presidential mansion for a meeting shortly after the latters arrival Greece. Erdogan...

Reforms in social security unveiled
The Greek government on 10 May unveiled a pre-draft legislation envisaging drastic reforms to the countrys pension and social security system. Presenting the draft legislation Employment and Social Insurance Minister Andreas Loverdos said the changes were designed to ensure the viability of the pension and healthcare system rescuing the national...

Government boosts efforts to promote tourism
Greeces Special Committee on Managing the Crisis in Tourism which was created at the initiative of the Culture and Tourism ministrys political leadership on 13 May announced coordinated action to reverse the negative climate that has been shaped for Greek tourism. An advertising campaign was decided that will bear the...

Greece will repay its loans
Greek Alternate Foreign Minister Dimitris Droutsas said in an interview with the Austrian state-run television that Greece will return even the last euro to its partners in the European Union clarifying at the same time that Greece wants nothing for free and that the support provided for it are loans....

Hellenic Telecommunications to delist from NYSE
A decision by the Hellenic Telecommunications Organization OTE to delist from the New York Stock Exchange is following a similar move made by Deutsche Telekom and other European companies not only from the telecommunications sector analysts said on 12 May news agencies reported. OTE listed its shares in the NYSE in...

Parliament passes austerity measures
Greeces Parliament on 6 May ratified a draft bill formally requesting activation of a EU-IMF support mechanism for the country which is expected to reach €110 billion. Following lengthy addresses by Greek Prime Minister George Papandreou and four other political party leaders 172 deputies from ruling PASOK party and the...

Papandreou invites Putin to visit Greece
Greek Prime Minister George Papandreou invited his Russian counterpart Vladimir Putin to make a working visit to Greece at any convenient time. The invitation was passed to Putin during a telephone conversation on on 3 May initiated by Papandreou Itar-tass reported. Putin and Papandreou discussed current aspects of trade and...

Tempi section reopens for good
The Tempi valley section on the Athens- Thessaloniki national motorway was expected to reopen permanently as of midnight on 7 May. According to an announcement by the contractor company Aegean Motoray the toll stations that had remained closed for the duration of the restoration work will also reopen. The works...

AT revenue increases 7.8% in April
The government on 7 May reported a 7.8% increase in VAT revenues in April to €1.205 billion from €1.118 billion in the corresponding month last year. A Finance Ministry announcement attributed this positive development to the performance of VAT declarations by small- and medium-sized enterprises and to increased demand for...

Bank of Greece sees deeper recession
Greece is facing a deeper recession this year Bank of Greece Governor George Provopoulos warned on 27 April while he recommended a greater decrease in the fiscal deficit by the government. Presenting the banks annual report the Greek central banker said the current crisis was unprecedented for the country after...

Athens hotels prices down
Athens hotels revenues fell 7% in the first quarter of 2010 to an average revenue per available room at €49.46 while average room occupancy rates fell by 1% to 48.6% and the average room price fell 6% to €101.77 compared with the same period last year the Association of Athens-Attica...

Public Power Corp. Seeks rates increase
Public Power Corporation PPC Chairman Arthuros Zervos on 27 April recommended a gradual increase of electricity prices from 2011 ahead of the abolition of free emission distribution rights in 2013 which was expected to raise power production costs. Speaking to reporters Zervos said he did not exclude a decision for...

Greece's big debt denial
Will Greece be able to dig out of its debt crisis? Not even the oracle of Delphi knows for sure.

The Greek pocketbook snaps shut
In Glyfada, an affluent coastal suburb of Athens, Aleka Maxtapolou, a 38-year old entrepreneur, spent almost an hour on a recent weekday evening hunting for an ATM that could dispense cash. "What have we come to when we can't even get the cash that's ours," she muttered under her breath with a laugh.

Athens blast kills at least one
One person was killed in an explosion at the Ministry of Citizen Protection in Athens, Greece, on Thursday, a ministry official said.

What fiscal austerity looks like
The weather may be getting hot, but there's a lot of freezing going on in Europe.

Stocks erase gains on Greece
Stocks gave up gains by the close Monday after Moody's downgraded Greece's debt rating, reminding investors that Europe's economic woes aren't going away anytime soon.

Greek journalists strike over austerity plan
Greek journalists walked off the job Thursday to protest tough government austerity measures.

Frank Deford: Countries usually reap little economic benefit from hosting major sporting event
Every time I hear another dismal report about how Greece is going to drag the whole world into an economic abyss, I ask out loud: Does anybody remember that only six years ago Athens proudly hosted the Summer Olympics?

America's 7 junkiest cities
Think Greece and Spain are drowning in debt? Look a little closer to home. Seven U.S. cities recently had their municipal bonds downgraded below investment grade. Their debt is now junk, considered more worthless than that of the so-called PIIGS.

Why we're not Greece - yet
Howard Gleckman is a resident fellow at the Urban Institute and editor of TaxVox, the blog of the nonpartisan research organization Tax Policy Center. The opinions expressed in this commentary are solely those of the writer.

Could the U.S. end up like Greece?
Over the past month, we've watched from distant shores as Greece has plunged into a debt crisis. Mounting pressure from global financial markets forced Greece to begin a drastic austerity program.

Greece, Spain hit by strikes over cuts
Workers in Greece and Spain were staging protests Thursday over their respective governments' austerity measures.

Go ahead and default, Greece!
Greece must be feeling a little like Sisyphus these days. Saddled with mountains of debt and a 14% budget deficit, its path to recovery seems arduously steep, slippery and out of reach. But like Sisyphus, the king in Greek mythology who ends up getting to the summit only to see his cumbersome load slide back down again, Greece seems mired in problems even with a $145 billion bailout package.

Greek leader: Banks bet against us
The prime minister of Greece said Sunday that he would not rule out taking legal action against banks that may have preyed on his country's precarious fiscal state.

Unrest in Greece shouldn't scare off tourists, experts say
The images coming from Greece this spring have been far from beautiful. Instead, the world has seen footage of angry rioters in Athens and police with tear gas.

Stocks seesaw in volatile trade
Stocks seesawed Tuesday, losing steam late in a volatile session, as investors welcomed Europe's $1 trillion aid package, but showed caution amid the recent market turmoil.

Macedonia PM: We want deal with Greece over name dispute
Macedonia's prime minister has said the country is seeking a compromise with Greece over the long-standing name dispute between both countries.

IMF approves $40B loan for Greece
The International Monetary Fund on Sunday approved a 30 billion euro ($38.6 billion) loan for Greece as part of a larger European Union-led effort to help ease the country's economic crisis.

Moody's: Greece and Portugal still at risk
A day after European leaders agreed on a $900 billion rescue package, credit rating agency Moody's cautioned investors that two of the euro zone's hardest hit countries aren't out of the woods just yet.

Treasurys choppy after Dow's seesaw ride
Treasury prices were down, then up, then down again in choppy trading Friday, one day after the stock market took a wild seesaw ride featuring a near 1,000-point nosedive.

European leaders to discuss Greece's financial woes
The Italian, Spanish and German governments approved their contributions Friday to a 110 billion euro ($140 billion) bailout plan for Greece.

Gold hits 5-month high above $1200
Gold surged past the psychologically significant $1,200 mark on Thursday as stock markets plummeted and investors sought a safe haven.

Watch Greece but don't forget America
Investors are acting like college students eager to take that quintessential backpacking adventure before joining the real world. They are obsessed with Europe.

Greece worries rattle world markets
World stock markets tumbled on Tuesday as investors worried that the recently announced bailout package for Greece wouldn't be enough to stop a debt crisis from spreading to other nations.

Stocks pummeled on debt worries
Stocks tumbled Tuesday on worries that the global recovery could suffer if Europe's efforts to contain Greece's debt problems don't succeed, and if China's efforts to slow its booming economy go too far.

Fear index spikes on Greek woes
Wall Street's key index of volatility hit its highest level in more than two months Tuesday as worries about Greece's spreading debt crisis topped the already long list of investors' concerns.

Greece bailout fears boost Treasurys
U.S. bonds rallied Tuesday, as fears about Greece's ability to refinance its debt again plagued investors.

Greeks strike over austerity measures
Athens, Greece (CNN) -- Greek workers went on strike Monday, marching to parliament to protest cuts in government spending demanded by international funders.

Stocks start May strong
Stocks rallied Monday, bouncing back after a big selloff last week as investors welcomed news that European leaders agreed to provide Greece with $146 billion in aid over the next three years.

Treasurys slip on Greek bailout
Treasurys fell Monday as the stock market posted gains on news of a bailout for Greece and on better-than-expected economic reports.

Oil prices inch higher on Gulf spill
Oil prices rose Monday as investors bought crude on the possibility that the Gulf of Mexico spill could halt supply and amid optimism that Greece's woes may be over for now.

Greece promises harsh cuts in exchange for bailout
Greece has accepted an international aid package worth 110 billion euros (US $146 billion) over three years, according to eurozone finance ministers.

Greece accepts bailout package
Greece has accepted a bailout deal including tough austerity measures, Finance Minister George Papaconstantinou announced Sunday.

Thousands across the globe stage marches, protests on May Day
Thousands of people across the globe took to the streets on Saturday in annual demonstrations for May Day, the annual event marked by demonstrations demanding better working conditions.

Bad news for Goldman and Greece, good for bonds
Treasury prices rose Friday, as investor worries grew about Greece's aid package and a credit rating agency downgraded Goldman Sachs stock.

Greece gets the word: Cut back, or no bailout
The International Monetary Fund and European Union are demanding further austerity measures from Greece as the price for a bailout, according to a top Greek labor union official.

Greek aid deal approaches $160 billion, government says
The aid package being negotiated to bail out Greece is worth 120 billion euros (about $160 billion) through 2012, according to Vassilis Papadimitriou, a spokesman for Greek Prime Minister George Papandreou.

Bonds jump after Greece and Portugal downgrades
Treasury prices gained Tuesday after both Greece and Portugal saw their debt downgraded.

Dollar climbs vs. euro on Greece fears
The dollar rose against the euro Monday as investors remained concerned about Greece despite the country's decision last week to activate an emergency aid package.

Oil prices decline
Oil prices fell more than 1% Monday as initial optimism about Greece's bailout waned, sending the dollar higher against the euro.

Greek debt fears persist
The outlook for Greece remained cloudy Monday even as the nation moved to activate a $53 billion emergency aid package.

Treasurys unwind after Greece asks for bailout
Treasury prices slipped and shed their safe-haven appeal Friday after Greece said it will seek a bailout from the European Union to abet its debt crisis.

Oil prices soar on new-home sales
Oil prices jumped Friday after upbeat home sales data helped to ease concerns about increased supply and weak demand.

Stocks headed for gains
U.S. stocks were set to open higher Friday after Greece officially activated an emergency financial aid package and investors remained encouraged by a spate of upbeat corporate results.

European stocks rise on Greek aid talk
European shares held gains early Friday following news that Greece may soon be getting the aid it so desperately needs.

Another bad day for Greece
Moody's downgraded Greece's government bonds Thursday casting further doubt that the debt-laden country will be able to meet its May 19 deadline for refinancing 8.5 billion euros, or about $11.4 billion, in borrowings.

Dow: 11,000 at the finish line
Stocks managed gains Monday, with the Dow industrials closing above 11,000 for the first time in 18 months, after European leaders made loans available to Greece, tempering fears that the nation might have to default on its debt.

Oil prices decline amid choppy trading
Oil prices fell amid choppy trading on Monday as investors digested new details about Greece's bailout package.

EU set to offer Greece 30 billion euros in aid
European finance chiefs said Sunday that Greece could receive aid of as much as 30 billion euros ($40 billion) at a 5% interest rate.

Long-term Treasurys rise
Treasurys fell Friday morning but erased losses by the end of the session, as traders remained skeptical of the developments concerning Greece's debt problems.

The next Greek tragedy: default or bail-out?
Greece is in danger of defaulting on its national debt as its bond market comes under increasing pressure, unless its European neighbors intervene.

A mixed Friday, but stocks up for the week
Stocks closed mixed Friday, ending another up week, as investors considered the Greek bailout package, reports of a naval conflict between North and South Korea and a weaker U.S. dollar.

Stocks set to gain at the open
U.S. stocks were poised to open higher Friday after European leaders agreed on an aid package for Greece and as investors digested the final revised figure for 4th quarter economic growth.

EU approves bailout plan for Greece
German Chancellor Angela Merkel planned a news conference Friday after her victory in securing a bailout plan for Greece that involves funds from both Europe and the International Monetary Fund.

Oil prices hang in $80 territory
Oil prices fell Thursday as renewed doubts over Greece's bail out plan overshadowed a positive jobs report.

3 lessons for investing overseas
Greece, of all places. Who knew you had to worry about what happens in Greece?

Will Greece turn from euros to gyros?
Athens is abuzz with a rumor: Greece might leave the euro zone and adopt a new currency -- a Greek euro, so to speak, something of a cross between a drachma and a euro to be used only internally. Some hungry economists have jokingly given the new money a nickname: the "Gyro."

Greece 'not looking for scapegoat,' PM says
Greece wants to take responsibility for its budget crisis and is not looking for outside financial help, its prime minister said Thursday.

U.S. states: Running with the PIIGS
The term PIIGS has been coined to refer collectively to Portugal, Italy, Ireland, Greece, and Spain. Aside from being a cute acronym, the term describes the actions of these countries very aptly as they have acted "piggish" in issuing debt to support overzealous government budgets. While the American media has at times made light of these countries and their PIIGS moniker, the same mistakes are at play in creating domestic pigs.

Oil jumps to 2-month high on jobs report
Oil prices rose Friday following a better than expected employment report from the government, boosting optimism about recovering fuel demand.

Good news about jobs, bad for bonds
Treasurys fell Friday as investors shifted into riskier assets, like stocks, which rallied following a jobs report that showed the pace of job losses abating.

Treasurys mixed ahead of jobs report
Investors shifted money from short-term to longer term Treasurys Thursday as they digested a mildly positive report on unemployment claims and tensions eased over Greece's debt.

The snag in Greece's salary solution
Greek prime minister George Papandreou may have made a big mistake. As part of a plan to fix his nation's ruined economy, he announced Wednesday that he aims to cut 30% of civil servants' holiday bonuses which are part of Greece's "14th salary" payment schedule.

Oil crosses $80
Oil prices gained Wednesday on a weaker dollar and as investors welcomed news that Greece had outlined a plan to cut its deficit.

Greece outlines plan to cut massive deficit
Facing firm demands from the European Union and financial markets to cut its deficit, Greece announced cost-cutting measures Wednesday that will save the debt-challenged country €4.8 billion, $6.53 billion, this year.

Treasurys fall on Greece plan, economic data
Treasurys fell Wednesday amid signs that Greece's fiscal situation could improve and a stronger-than-expected reading on the services sector.

Stocks headed for flat open
U.S. stocks were poised for a flat open Wednesday, showing little reaction to Greece making progress on its financial woes or economic readings that showed a slowdown in job cuts.

Stocks eke out gains
Stocks ended with modest gains Tuesday, giving up a bigger advance, as investors weighed February auto sales, some upbeat company news and signs that Greece won't default on its debt.

Treasurys choppy as Greece news boosts stocks
Treasury prices ended little changed Monday after a day of choppy trade. Equities gained on news that a Greek bailout package is in the works, denting some safe-haven appeal at the start of a week full of economic data.

Stocks headed for another decline
U.S. stocks were headed for a lower open Friday after a dismal report from AIG dashed hopes for an opening advance. A stronger than originally reported GDP report failed to boost sentiment.

Stocks fight back from big losses
Stocks ended with modest losses Thursday, fighting off a bigger decline that surrounded the latest worries about Greece's debt crisis and weaker-than-expected reports on the economy.

Analysis: What Greece tells us about Europe
The size and scale of the protests in Greece are hard to ignore. Athenians filled Constitution Square in the heart of the capital protesting the austerity measures being put forward by the government of George Papandreou. This is his first major test on the ground since taking office last autumn.

Fed probing Goldman trades with Greece
The Federal Reserve is looking into what role Goldman Sachs and other Wall Street firms may have played in Greece's debt problems, Fed Chairman Ben Bernanke said Thursday.

In Greece, the people carry on
The Greek maelstrom that's roiled the world's markets for the last two months is more than a matter of embarrassment for its government. It's become a matter of survival for Greeks.

Treasurys slump on improved housing data
Treasurys fell Wednesday as upbeat reports on the U.S. housing market and waning fears about Greece's debt problems drove investors toward more risky assets.

Bomb blast hits J.P. Morgan building in Greece
A medium sized-bomb exploded Tuesday at a building housing offices of J.P. Morgan, the financial services firm, Greek police said.

PM: Greece looking for support, not bailout
Greece is not looking for a bailout by the rest of Europe as it struggles to bring down sky-high budget deficits and public debt after years of profligate spending, Greek Prime Minister George Papandreou said Monday.

Help! My bags didn't make the connection
Joshua Smith's fiancee spends an extra day in Athens after her airline forces her to recheck her luggage. Whose fault is this snafu? Her online agent's? The airline's? Or hers? And what, if anything, can be done about it?

Stocks set to drop at open
U.S. stocks were set to open lower Friday as investors fretted over international economic turmoil, including the plan by China's central bank to raise its reserve requirement ratio, Germany's stagnant economy and Greece's lingering debt problems.

Dow gains 100 points as Greek debt fears ebb
Stocks rallied Thursday after the European Union's promise to help debt-ridden Greece eased worries that a default might hurt global markets.

Oil climbs above $75
Oil rose for the fourth straight session Thursday after European leaders pledged to help debt-ridden Greece, easing worries that a default might hurt global markets.

Treasurys mixed after auction
Treasurys were mixed Thursday after the U.S. government sold $16 billion in long-term bonds and European finance ministers signaled some support for debt-stricken Greece.

Treasurys slide ahead of auction
Treasurys turned lower Wednesday following a lackluster debt auction of 10-year notes.

Oil advances on Europe debt talk
Oil prices rose for a third consecutive session Wednesday amid optimism that a rescue plan for Greece and other debt-challenged European nations may be near.

How do you say bailout in German?
Who said there was bailout rage and fatigue? Investors around the world uttered a collective cry of "Danke" and "Opa!" due to reports that Germany may rescue the shaky Greek economy.

Greek workers strike as government tightens belt
Greek workers were holding a one-day strike Wednesday to protest government efforts to stave off a financial crisis.

Stocks rally on Greek bailout hopes
Stocks rallied Tuesday as growing bets that European officials will rescue Greece from its debt problems reassured investors after a four-week selloff.

Germany considers aid to Greece - reports
The German government may offer an aid package to Greece and other debt-ridden European nations in an effort to stave off the default concerns that have stunted global markets, according to reports.

Greece is the word
Could Europe kill the chances of a global economic recovery? There are growing concerns about the health of several European nations, most particularly Greece. Standard & Poor's, Moody's Investors Service and Fitch Ratings all downgraded their credit ratings for Greece last month.

Bomb explodes outside Greek parliament; no casualties
A bomb exploded outside Greece's parliament building in central Athens on Saturday evening, a blast near a national landmark that unnerved the country.

Protesters riot in Athens on police shooting anniversary
The anniversary of a fatal police shooting triggered a new riot in Greece's capital Sunday, with protesters occupying a university building and throwing rocks and burning garbage at police.

The surprising Greek film winning fans abroad
For Greek cinema, the shadow of auteur Theo Angelopoulos has cast long over the blue sky of the Cote d'Azur in Cannes.

Greek firefighters get respite, brace for strong winds
The capital of Greece appeared safe from wildfires that have raged for days, firefighters said Monday, but they remained on standby in anticipation of flare-ups caused by strong winds.

Google Street View blacked out in Greece
Internet giant Google has been stopped from gathering images in Greek cities for its Street View service until it provides further guarantees about privacy.

Where the ancient Olympics meet the Wild West
If you want to get away from it all when traveling in Greece, head for the Peloponnesian Peninsula. Studded with antiquities, this land of ancient Olympia, Corinth and Sparta offers plenty of fun in the eternal Greek sun, with pleasant fishing villages, sandy beaches, bathtub-warm water, and none of the tourist crowds that plague the much-scrambled-after Greek Isles.

Dozens arrested in Greece over child porn
Twenty-four Greek nationals, including a priest and a neurosurgeon, have been arrested on suspicion of child pornography, Greek police announced Tuesday.

Gunmen snatch leading Greek shipping boss
Three gunmen have kidnapped a leading Greek shipping magnate, police said Monday.

Greece in belt-tightening budget despite protests
Greece passed a belt-tightening budget Monday, despite weeks of nationwide protests over the economy and jobs enflamed by the fatal shooting of a teenager by police earlier this month.

Riots continue across Greece after teen killed by police
Bursts of tear gas exploded in downtown Athens as police continued to battle hundreds of young self-styled anarchists rioting Sunday in major cities across Greece.

Greek police clash with strikers
Riot police fired tear gas Tuesday to disperse rock-throwing youths amid a nationwide general strike that brought air, rail and ferry traffic to a halt in Greece.

Transport strike brings Greece to a halt
Greece's air, rail and urban transport came to a grinding halt Wednesday as the country's biggest labor union staged a 24-hour nationwide strike in protest of the government's plan to sell off the state's ailing carrier Olympic Airlines.

Greece and the Power of Negative Thinking
Neuroscience has much to teach us about 'judgement extremism' and our economic outlook.

Truck Drivers in Greece Defy an Order to End Their Strike
More than 30,000 truck drivers walked out on Monday to protest plans to slash trucking license prices as part of Greece’s financial rescue package.

Greece: In Statement, Guerrilla Group Claims the Killing of a Journalist
Greece’s deadliest active guerrilla group, Sect of Revolutionaries, claimed responsibility for last week’s fatal shooting of a reporter in Athens, according to a left-leaning Greek newspaper.

Killing Revives Fear of Domestic Terrorism in Greece
Domestic terrorism has seen a gradual revival over the past year and a half with the emergence of several new militant organizations.

Greece’s Debt-Ridden Rail System Adds to Economic Breakdown
The state-owned railway loses about $3.8 million a day, prompting a search for solutions: maybe a foreign investor or a complete overhaul.

After Tumult, Debt Worries Ease in Europe
Two months ago, Europe’s debt problems seemed grave enough to imperil the global economic recovery. Now, some investors are treating it as the crisis that wasn’t.

Private Sector’s Health Determines a Nation’s Risk
Corporate strength , an economist argues, is a better gauge of debt problems than gross domestic product growth, or even government debt.

Libyan Aid Ship Plans Run to Gaza
A ship commissioned by a Libyan charity has left Greece, but it remains unclear whether it will challenge the Israeli blockade of routes to the territory.

Greece Backs Away From Online Ad Tax
The government has withdrawn a proposed 21.5 percent levy on internet advertising that was meant to pay for the retirement of journalists working in online media.

Greeks Strike to Protest Austerity Plans
Public services in Greece ground to a halt and transport was disrupted on Tuesday as thousands of workers joined a general strike, the fifth this year.

Austerity Could Realign Greek Politics
Recent polls show that Greeks believe corruption fostered by their politicians has led the country to economic ruin.

Greece: Bomb Kills Cabinet Minister’s Assistant
A powerful bomb sent in a package to the minister of public order exploded near his office in Athens on Thursday, killing his 52-year-old assistant, who opened the package.

A Way to Rescue Greece
The parallels between Greece's situation in 1897 and today are striking. The problems may be resolved the same way.

Some Winners Emerge From Europe’s Debt Crisis
Some positive side effects for many European companies include a falling currency and low interest rates.

Despite Debt Crisis, Euro Zone Adds Estonia
The small ex-Soviet satellite gains some power and influence when it becomes the 17th nation to switch to the euro on Jan. 1.

Extraordinary Developments in Europe's Financial Crisis
Momentous changes are afoot in Europe.

How Dire Is Europe's Financial Crisis?
The EU’s sudden $1 trillion rescue package reveals the magnitude of the financial crisis plaguing the Continent.

Don't Bet Against Europe
The crisis is not the end, but the beginning.

Will Greece Collapse?
The decision could rest with lawmakers in Germany.

Germany Reveals Its Conditions for Greece Bailout

Jim Rogers Says a Eurozone of 10 Members Would Be a "Wonderful Thing"
America’s economic crisis is not over. Social unrest and food shortages are on the horizon. And look out for a pared-down, more powerful European Union.

Germans to Greeks: You need to live the German way!

Splitting Europe Apart
Europe’s current monetary crisis is dividing the EU.

Berlin--Gearing for Combat
The twin pressures of economic crisis and terrorist threat are driving Germany to increasingly arm itself.

Is Europe's Star Falling?
Europe’s moment of apparent weakness is Germany’s moment of opportunity.

The Ramifications of Greece's Economic Crisis

Dubai's Debt: Why It Matters
Are financial tremors in Dubai a sign of a massive earthquake to follow?

The Biggest Heist of All Time
Germany is conquering Europe without firing a shot.

Did the Holy Roman Empire Plan the Greek Crisis?
You are going to see the same kind of financial crises in other European countries. Here’s why.

Europe and the Specter of 1968
France’s President Sarkozy fears a return to the youth riots of 40 years ago.

Who Will Stop the Greece Fires?
How the Greek riots were planned in advance

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Greece, officially known as the Hellenic Republic, is a country in Southeastern Europe, situated on the southern end of the Balkan Peninsula. It borders Albania, FYROM and Bulgaria to the north, and Turkey to the east. The Aegean Sea lies to the east and south of mainland Greece, while the Ionian Sea lies to the west. Both parts of the Eastern Mediterranean basin feature a vast number of islands.

Greece lies at the juncture of Europe, Asia, and Africa. It is heir to the heritages of ancient Greece, the Byzantine Empire, and nearly four centuries of Ottoman rule. Greece has a particularly long and eventful history and a cultural heritage that both shaped and has been shaped by cultures throughout the Middle East, Northern Africa, and Europe.

It is regarded as the birthplace of the first major democracy, Western philosophy, the Olympic Games, Western literature, political science, major scientific and mathematic principles, and Western drama including both tragedy and comedy.

Modern Greece is a developed country, a member of the European Union since 1981, a member of the Economic and Monetary Union of the European Union since 2001, NATO since 1952, the OECD since 1961, the WEU since 1995, and ESA since 2005.

Athens is the capital; Thessaloniki, Patras, Heraklion, Volos and Larissa are some of the country's other major cities.