Greece Debt Crisis

It's Possible To Stop The Olympics From Screwing Over Host Countries

Joshua Ostroff | Posted 08.05.2016 | Canada Impact
Joshua Ostroff

People around the world love the Olympics. The Games bring nations together and promote peace through friendly competition. They tell life-affirming stories of humanity's endurance and drive and the capabilities of our bodies. They bring joy to so many that we need to devise some way to stop them from also bringing so much pain in the form of billions of dollars of debt.

Should The UK's Distinct Society Remain In The EU?

Guy Laforest | Posted 03.04.2017 | Canada Politics
Guy Laforest

In many ways the United Kingdom of Great Britain and Northern Ireland, which joined what was then the European Common Market in 1973, represents a distinct society in its own right: with its strong currency it remains outside the Euro zone, fails to participate to the Schengen Area regulating border controls, while enjoying special budgetary rules.

Greece Approves Another Bailout

CP | Derek Gatopoulos | Posted 08.14.2016 | Canada Business

ATHENS, Greece (AP) — Greek lawmakers have approved their country's draft third bailout in a parliamentary vote that relied on opposition party supp...

IMF Rejects Greece Bailout Deal

CP | The Associated Press | Posted 07.30.2015 | Canada Business

WASHINGTON -- An International Monetary Fund official says the IMF cannot participate in another Greek bailout until Greece and its creditors make dif...

Ontario Can Look to Greece to See the Dangers of an Underground Economy

Christine Van Geyn | Posted 07.20.2016 | Canada Business
Christine Van Geyn

The Greek failure to successfully address tax evasion should prove instructive to Ontario Premier Kathleen Wynne, who in 2014 pledged to crack down on tax cheats. Greek measures to tackle evasion with enforcement have resulted in only small improvements. An enforcement only strategy should not be the model Ontario follows for tackling the underground economy. Relying on enforcement and punishment squeezes legitimate businesses who are already faced with high compliance costs and tax and regulatory burdens.

Greeks Wake Up To Open Banks.. Higher Taxes

CP | Derek Gatopoulos And Nicholas Paphitis, The Associated Press | Posted 07.19.2016 | Canada Business

ATHENS, Greece - Greek banks reopened Monday for the first time in three weeks, but strict limits on cash withdrawals and higher taxes on everything f...

Greece: Here Is Why #ThisIsNotACoup

Andreas Souvaliotis | Posted 07.14.2016 | Canada
Andreas Souvaliotis

It's time for an enormous dose of tough love, so we can finally turn the most beautiful country in the world into a viable, democratic, modern society.

Greek Government Vows To End National Pastime Of Tax Dodging

CP | Alan Clendenning, The Associated Press | Posted 07.14.2016 | Canada Business

ATHENS, Greece - Dimitris Bokas keeps meticulous records of the bathroom fixtures he sells from his small shop in the quiet middle-class residential n...

Tsipras Faces Revolt After Agreeing To Austerity Package

CP | Derek Gatopoulos And Elena Becatoros, The Associated Press | Posted 07.14.2016 | Canada Business

BRUSSELS - With members of his own party openly denouncing a preliminary rescue deal struck with Greece's European creditors, Prime Minister Alexis Ts...

What the Greek Tragedy Means for Canadians

Ivey Business School | Posted 07.08.2016 | Canada Business
Ivey Business School

Greece does not have its own currency to devalue to gain economic relief. And so the nation's debt problem can't be fixed by issuing more loans with conditions that kill economic growth. If truth be told, there has never been a bailout designed to bail out the Greeks. The aid issued to date has been all about buying time to play musical bondholders.

What You Need to Know About the Greek Debt Crisis

Ana Rodriguez | Posted 07.07.2016 | Canada Politics
Ana Rodriguez

Wall Street melts down in 2008. Greece announces financial troubles and borrows €110 billion in 2010. It isn't enough, so a second bailout package brings the total loan to €246 billion by 2016. In early 2015, Alexis Tsipras of the radical left Syriza party is sworn in as the new prime minister with a plan to refuse any more loans. On June 28, the Greek government announces bank closures. Two days later, they miss an IMF payment and default on their debt.

Canadian Importers Of Greek Food Are Stockpiling Products

CP | Michelle McQuigge, The Canadian Press | Posted 07.06.2016 | Canada Business

TORONTO - Major Canadian importers of olive oil, sea salt, preserved vegetables and other delicacies from Greece say they've been stockpiling goods in...

Tories, NDP Spar Over Greece Crisis

CP | Jordan Press, The Canadian Press | Posted 07.06.2016 | Canada Politics

A spokesman for Prime Minister Stephen Harper has highlighted three-year-old comments from NDP Leader Tom Mulcair.

Why Canada Should Cautiously Monitor Greece's Financial Crisis

Gerry Som | Posted 07.06.2016 | Canada Business
Gerry Som

A Greek crisis cannot be good for the world right now, and we cannot/should not be mute spectators. Here are some reasons why we in Canada in particular, and the rest of the world in general, have to cautiously monitor the current events in Greece, and should try to guide or help Greece get out of the crisis before it becomes contagious. Canada already has internal financial stresses, just like many other countries around the world do, at this moment; this Greek crisis can add to external stress for many countries, and this really is bad timing, and an unwanted occurrence for the world economy.

Greece Presses To Reopen Bailout Talks Before Banks Collapse

CP | Derek Gatopoulos And Elena Becatoros, The Associated Press | Posted 07.06.2016 | Canada Business

Live updates at bottom ATHENS, Greece - Greece and its membership in Europe's joint currency faced an uncertain future Monday, with time pressing f...

Greek Finance Minister Quits

CP | Elena Becatoros And Demetris Nellas, The Associated Press | Posted 07.05.2016 | Canada Business

ATHENS, Greece - Greek Finance Minister Yanis Varoufakis resigned Monday, saying he was told shortly after Greece's decisive referendum result that so...

Why $335 Billion In Bailouts Failed To Save Greece

CP | David McHugh, The Associated Press | Posted 07.04.2016 | Canada Business

FRANKFURT - After two bailouts totalling 240 billion euros ($335 billion Cdn) and six years of depression, spending cuts and lost jobs, Greece teeters...

Confusion Reigns As Greece Heads To The Polls

CP | Gregory Katz And Theodora Mavropoulos, The Associated Press | Posted 07.03.2016 | Canada Business

ATHENS, Greece - Greek voters facing a momentous vote Sunday that may determine the country's future in Europe can be forgiven for scratching their he...

Germany Got Debt Relief After WWII, Refuses Same For Greece Today

CP | Pan Pylas And David McHugh, The Associated Press | Posted 07.03.2016 | Canada Business

LONDON - Forgiving debt, if done right, can get an economy back on its feet.The International Monetary Fund certainly thinks so, according to a new re...

Greece Needs $50 Billion: IMF

CP | The Associated Press | Posted 07.02.2016 | 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 06.30.2016 | 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 06.30.2016 | 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 06.29.2016 | 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 06.29.2016 | 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 06.27.2016 | 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...