ATHENS, Greece (AP) — Greek lawmakers have approved their country's draft third bailout in a parliamentary vote that relied on opposition party support and saw the government coalition suffer signific...
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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.
BRUSSELS - After grueling, often angry negotiations that tested the limits of European unity, Greece struck a preliminary rescue deal with its creditors Monday that should avert an imminent financial...
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Greece faced an uncharted future as its interior ministry predicted Sunday that more than 60 per cent of voters in a hastily called referendum had rejected creditors' demands for more austerity in exchange for rescue loans.
Canada one of seven countries at risk Housing downturn could mean 'downward spiral' for economy Condo boom may be driving up debt Canada is a world leader in an area it may not want to be — househo...
At the IMF and World Bank Group annual meetings in Tokyo, the European economic crisis was never off the agenda and often took centre stage in panel discussions. In the streets of Athens, Madrid, and in cities of other fiscal adjusting European states, there is a real belief that this new economic reality will result in a lost generation.
ATHENS, Greece - The Greek economy remained stuck in a deep recession in the fourth quarter, according to official figures released Tuesday that confirm the painful effects of austerity reforms intend...
The idea of a united Europe was always a fable of course, as some of us warned, and it was compounded by a policy of not hearing, seeing, or speaking any evil about the European ideal that was bound to lead to tears.
This comparison should give the Greeks some hope -- after all, Argentine 10-year government bonds today are comparable to other emerging market economies and investors flocked back to Argentina. What did Argentina do and what can Greece learn from its experience?
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Let 'em go. Let 'em make their own way until they change their minds and rejoin the club and adhere to existing rules. If that means another recession, or even a depression, better now than at some time in the future when damage will be even greater.
What Europe must do to save the euro is very similar to what Alexander Hamilton did in the United States in the 1790s to create the dollar. But the new American super-government was elected. The new European supergovernment won't be.
PERTH, Australia - Prime Minister Stephen Harper offered some rare praise on the economic front to the European Union while prodding the United States and China by name Thursday at a Commonwealth busi...
There is no rescuing Greece. If the country will not submit to regulations that people like Mark Carney would probably endorse, better that it not be propped up. Let it abandon the euro and revert to the drachma, until it comes to terms with itself.
It wasn't just a domestic credit crisis that brought that country to its knees -- it was a much more serious case of social corruption and mistrust, an ailment so deeply entrenched in their national psyche that it could only be wiped out with the help of a deep and painful crisis.
WASHINGTON - Canada is urgently calling on Europe to "overwhelm" their problems with a massive bailout of their big banks as a necessary first step to prevent a new recession barely two years after th...
ATHENS, Greece - Moody's downgraded eight Greek banks Friday, citing their exposure to their government's bonds and the deteriorating economic situation in the country as it struggles to convince cred...
ATHENS, Greece - Greece will have to take fresh austerity measures, the debt-ridden country's finance minister said Wednesday, a day after Athens moved a step closer to getting the vital bailout funds...
VOULIAGMENI, Greece - Greece's finance minister promised Monday to stick with his plan for the country to post a primary surplus in 2012 as the country's international creditors pressed for faster ref...
The popular discontent of the last few months is certainly understandable. What is less understandable is what seems to be a widespread belief among Greeks that the citizens are neither responsible nor have any obligation to bear the consequences for their government's overspending.
ATHENS, Greece - Moody's downgraded Greece's bond ratings by a further three notches Monday and warned that it is almost inevitable the country will be considered to be in default following last week's new bailout package.The agency said the new EU package of measures implies "substantial" losses for private creditors. As a result, it cut its rating on Greece by three notches to Ca -- one above what it considers a default rating.
THE CANADIAN PRESS -- BRUSSELS - Eurozone leaders agreed to a sweeping deal that will grant Greece a massive new bailout — but likely make it the first euro country to default — and radically reshape...
THE CANADIAN PRESS -- LONDON - A leading credit ratings agency warned Monday that Greece would be considered to be in default if banks rolled over their holdings in the country's debt as proposed by a...
CBC -- The embattled government of Greek Prime Minister George Papandreou survived a crucial confidence vote Tuesday. Parliament approved the new cabinet he formed to help pass the unpopular austerity...