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Thursday, February 23, 2012 5:04 AM SAST
The country is battling to rein in a bulging government debt that will reach 125% of GDP this year. Policymakers are hoping to reduce the domestic shortfall from 12.7% last year to less than 3% by 2012. To hit the targets, the Greek government plans to freeze civil servant pay, introduce taxes on wealthy estates, and increase tobacco and alcohol levies by 20%.
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By IBTimes
The loan comes just in time for Greece, which has to repay a maturing loan by March 20 to avoid bankruptcy. (Feb 21)
MORE TOPICS: IMF, EUROPEAN UNION, GDP, EUROPEAN CENTRAL BANK, INTERNATIONAL MONETARY FUND, LONDON
By Easy Forex
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By IBTimes
For some observers, Greece can seem like a small problem in a distant land, incapable of affecting U.S. investors. But in the financial crisis era, that is most certainly not the case. (Feb 20)
MORE TOPICS: EUROPEAN UNION, PORTUGAL, GDP, INVESTMENT
By IBTimes
Global markets on Monday opened on a strong note, apparently optimistic a critical Brussels meeting will successfully conclude the now seven-month effort to arrange a second massive bailout for debt-choked Greece. (Feb 20)
MORE TOPICS: CHINA, IMF, GDP, JAPAN, INTERNATIONAL MONETARY FUND, EUROPEAN CENTRAL BANK
By IBTimes
Some European leaders have expressed optimism that the next round of rescue financing for debt-scarred Greece will be approved by Eurozone finance ministers at a crucial meeting in Brussels on Monday. (Feb 17)
MORE TOPICS: IMF, EUROPEAN UNION, GDP, EUROPEAN CENTRAL BANK, INTERNATIONAL MONETARY FUND, LONDON
By CME Group
Copper prices are clearly on the defensive this morning are have fallen to a fresh 31/2 week low. In addition to fears of renewed slowing in China from slack Chinese trade data overnight, the copper market has also seen a rekindling of contagion fears toward the Greece debt crisis. (Feb 16)
By Reuters
Black-masked protesters throwing petrol bombs created a wall of fire on Sunday outside Greece's parliament as lawmakers inside looked set defy public rage by endorsing a new austerity deal to secure an EU/IMF bailout and avoid national bankruptcy. (Feb 13)
MORE TOPICS: IMF, GERMANY, EUROPEAN UNION, INTERNATIONAL MONETARY FUND
By Reuters
Greek lawmakers looked set to agree to a deeply unpopular bailout deal on Sunday to avert what Prime Minister Lucas Papademos warned would be "economic chaos", and Germany demanded Greece dramatically change its ways to stay in the euro. (Feb 12)
MORE TOPICS: UNEMPLOYMENT, IMF, GERMANY, EUROPEAN UNION, INTERNATIONAL MONETARY FUND
By IBTimes
Investors flocked to the security of safe-haven assets Friday, like U.S. Treasuries and cash dollar holdings, ahead of what is expected to be a volatile weekend in Athens, already rocked by riots and tense government negotiations. (Feb 10)
By IBTimes
Greece's prime minister struck back at critics in a letter to his Cabinet Friday evening, delivering a rousing plea in which he asked Greek government officials to coalesce behind a new "ambitious but achievable" program of fiscal aust... (Feb 10)
MORE TOPICS: UNEMPLOYMENT, GDP
