Greece Debt Crisis

Greece Needs $50 Billion: IMF

CP | The Associated Press | Posted 07.02.2015 | Canada Business

WASHINGTON (AP) -- The International Monetary Fund says Greece needs debt relief and 50 billion euros ($70 billion) in new financing from October thro...

As Greeks Live Through Disaster, Tourists Hit The Beach

CP | Gregory Katz, The Associated Press | Posted 06.30.2015 | Canada Business

ATHENS, Greece - There's an early morning buzz at Varvakios Market in downtown Athens as dozens of butchers prepare cuts. Knives slice through fresh m...

Greece To Default On IMF Payment, Finance Minister Says

CP/HuffPost Canada | Elena Becatoros, The Associated Press | Posted 06.30.2015 | Canada Business

ATHENS, Greece (AP) — Greece is set to become the first developed nation to not pay its debts to the International Monetary Fund on time, as the cou...

Greek Drama Drives TSX Down 300 Points

CP | Brian McKenna, The Canadian Press | Posted 06.29.2015 | Canada Business

TORONTO - The Toronto Stock Exchange tumbled more than 300 points, joining a global retreat on equity markets sparked by the Greek debt crisis and fea...

Greece In Limbo As Banks, Stock Markets Shut Down

CP | Derek Gatopoulos And Lorne Cook, The Associated Press | Posted 07.02.2015 | Canada Business

This is a developing story — check updates at bottom. ATHENS, Greece - Anxious Greek pensioners swarmed closed bank branches Monday in the hope o...

Greeks Pull Money Out Of Banks As Eurozone Refuses Bailout Extension

CP | Raf Casert And Elena Becatoros, The Associated Press | Posted 06.28.2015 | Canada Business

Latest update: Greece's finance minister is suggesting that his country might not pay the 1.6 billion euros ($1.8 billion) it owes to the Internationa...

Markets Tumble As IMF Walks Away From Greece Crisis Talks

CP | By Elena Becatoros, The Associated Press | Posted 06.12.2015 | Canada Business

ATHENS, Greece -- Markets tumbled Friday as investors reassessed their recent bout of optimism over the likelihood of a deal that would prevent the co...

European Leaders In Emergency Meetings As Greece Faces Bankruptcy

CP | Elena Becatoros, The Associated Press | Posted 06.02.2015 | Canada Business

BERLIN - Greece's international creditors held an emergency meeting in Berlin to discuss how to push ahead bailout discussions with Athens so the cash...

World Finance Leaders Feeling Jittery

CP | Harry Dunphy, The Associated Press | Posted 04.20.2015 | Canada Business

WASHINGTON -- The world's financial leaders see a number of threats facing a global economy still on an uneven road to recovery with U.S. and European...

Markets Tumble As Greece Bailout Talks Break Down

CP | Pan Pylas And Lorne Cook, The Associated Press | Posted 04.19.2015 | Canada Business

BRUSSELS - Greek shares led a European retreat Tuesday as investors reacted negatively to the breakdown in talks between Greece and its creditors in t...

What Was Really Being Talked About in Davos

Michael Coates | Posted 05.25.2015 | Canada Business
Michael Coates

To be sure, the Forum once again generated news and social content about business trends, societal needs, industry insights and new voices in the global economy. But the real conversations in the hallways were that global business leaders are more concerned over the threat of Euro collapse than debating problems of income inequality.

Greek Government Could Collapse Next Year, And Its Market Is Tanking

CP | Derek Gatopoulos, The Associated Press | Posted 12.15.2014 | Canada Business

ATHENS, Greece - Concerns that the Greek government could collapse next year, putting its bailout program in danger, caused a massive sell-off in the ...

Quebec Could Turn Into Greece If It Kept Loonie: Report

The Huffington Post Canada | Daniel Tencer | Posted 03.20.2014 | Canada Business

Parti Quebecois leader Pauline Marois recently suggested that an independent Quebec would keep the Canadian dollar, and would try to keep a seat on th...

When Young Democracies Make Immature Decisions

Andreas Souvaliotis | Posted 05.06.2013 | Canada Politics
Andreas Souvaliotis

How could any country find itself in a scenario where it suffers the consequences of having been too socialist and too capitalist at the same time? I was listening to a former Greek Prime Minister recently at a global conference and I was struck by the number of times he referred to his country as a "young democracy." The implication, of course, was that it was an immature democracy -- and suddenly it all made sense.

Protests Greet Merkel In Greece

CP | Derek Gatopoulos,Nicholas Paphitis, The Associated Press | Posted 12.09.2012 | Canada Business

ATHENS, Greece - German Chancellor Angela Merkel got a hostile reception from many ordinary Greeks Tuesday when she flew into Athens on her first visi...

Merkel Braves Protesters In Greece

CP | Derek Gatopoulos,Nicholas Paphitis, The Associated Press | Posted 12.08.2012 | Canada Business

ATHENS, Greece - German Chancellor Angela Merkel makes her first visit to Greece since the eurozone crisis began here three years ago. Her five-hour s...

This Canadian Billionaire Is Now Working To Break Up The Euro

The Huffington Post Canada | Daniel Tencer | Posted 08.14.2012 | Canada Business

After dropping hints about it for a year, Frank Stronach, the billionaire founder of auto parts maker Magna International, is launching a political pa...

Europe Faces Breaking Point As Even Stronger Economies Slow

CP | Robert Barr, The Associated Press | Posted 10.08.2012 | Canada Business

LONDON - Europe's biggest economies are showing increasing signs of weakness, a sign that the struggles of their heavily-indebted neighbours are sprea...

Greek Finance Minister Hospitalized On Taking Job; Resigns

CP | Elena Becatoros, The Associated Press | Posted 08.25.2012 | Canada Business

ATHENS, Greece - The banker chosen to be Greece's next finance minister resigned for health reasons Monday, three days after he was rushed to the hosp...

Greece's Unemployment Crisis Keeps Getting Worse

CP | The Associated Press | Posted 08.07.2012 | Canada Business

ATHENS, Greece - Greece's unemployment shot up to 21.9 per cent in March, rising sharply from the 15.7 per cent rate in the same month last year and u...

Eurozone Unemployment At Record High

CP | The Associated Press | Posted 08.01.2012 | Canada Business

BRUSSELS - Unemployment across the 17 countries that use the euro stayed at 11 per cent in April — the highest level since the single currency was i...

Guess Which Country Think Of Itself As The Hardest-Working

CP | Pan Pylas, The Associated Press | Posted 07.28.2012 | Canada Business

UPDATE: The Pew Research Center's survey on attitudes in the Eurozone found that residents of Greece -- now into its third year of a massive debt cris...

Bank Run? Greeks Pull $900 Million From Banks In Days

CP | Elena Becatoros,Nicholas Paphitis, The Associated Press | Posted 07.16.2012 | Canada Business

ATHENS, Greece - A senior judge was sworn in Wednesday to head Greece's caretaker government for a month as it lurches through a political crisis that...

Markets Dive On Greek, French Votes

CP | Pan Pylas, The Associated Press | Posted 07.06.2012 | Canada Business

LONDON - Renewed uncertainty over Europe's ability to deal with its spawning debt crisis following elections in Greece and France hammered stock marke...

Angry Greek Voters Support Anti-Bailout Groups

CBC | Posted 07.06.2012 | Canada

Greek voters angry about the prospect of more crippling austerity measures gave scattershot support on Sunday to a range of anti-bailout ...