GREECE ECONOMY

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

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.
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THE LATEST

ATHENS, Greece - The latest news on Greece's financial woes as it closes its banks and limits money withdrawals (all times local):___11:35 p.m.Hundreds of people have rallied in London to show solidar...
AP

Eurozone Economy Actually Grows

MADRID - Minube, a travel startup on the outskirts of Madrid, is doing something that many Spanish companies haven't thought about for years: It's hiring.The company, which sells bookings as it helps...
AP

Greek Bailout Deal DONE

BRUSSELS - The countries that use the euro pulled Greece back from an imminent and potentially catatrophic default on Tuesday, when they finally stitched together a €130 billion ($170 billion) rescue...
AP

Greece Is Just the First to Fall

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.
AP

Let Greece Default

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.
Getty

Lessons From Greece's Bankrupt Society

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.
AP File

A (Friendly) Memo to a Greek Protester

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.