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Why Does Europe Want To Keep Greece?

Greek European Union Flags

It’s easy to see what Greece thinks it still needs Europe, it’s more of puzzle why Europe thinks it needs to hang on to Greece.

Greece Reaches Deal With Europe That’s Quite Similar To The One Voters Rejected

Greek European Union Flags

Greece reached a new deal with European bankers that seems oddly similar to the one that voters rejected just a week ago.

Greek Voters Reject Bailout Deal, Greece Still Largely Screwed

Greek European Union Flags

Greek voters rejected the latest bailout package, but that only seems likely to make things even worse for them.

Greek Prime Minister Appears To Concede, But Europe Holds To A Hard Line

Greek European Union Flags

Greece’s Prime Minister seemed to give in to some of Europe’s demands today, but bankers are continuing to hold to the strict conditions they set last week.

Greek Banks To Remain Closed Monday As Debt Negotiations Head To The Wire

Greek European Union Flags

The Greek Government is basically shutting the banking system down tomorrow as negotiations over its debt problems continue.

Greece May Need More Aid

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It’s been nearly a year since the economic crisis in Greece reared its ugly head, but there are signs now that the nation may need to turn to Europe (read, mostly Germany) for more aid in the near future: Greece may need a third bailout but would not accept new austerity measures, the Greek finance […]

The Youth Unemployment Problem

Youth Unemployment

Large numbers of younger workers are having trouble finding work in many parts of the developed world.

No Nude Statues Please, We’re Qatari

The Qataris don’t have much appreciation for Ancient Greek art, apparently: Greece has pulled two ancient statues of nude males from an Olympic exhibition in Doha after Qatari authorities insisted on veiling them. So the statues were returned to Athens last week, the official said on condition of anonymity. Greek Deputy Culture Minister Costas Tzavaras, who […]

Golden Dawn Party Rising In Popularity As Greek Chaos Continues

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The far right Golden Dawn party is gaining popularity in Greece as austerity, and the inevitable end of the Greek welfare state, take their toll: ATHENS — The video, which went viral in Greece last month, shows about 40 burly men, led by Giorgos Germenis, a lawmaker with the right-wing Golden Dawn party, marching through a night market in […]

Eight Years Later, Athens Olympic Venues Lie In Ruins

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As the London Olympics enter their second week and Michael Phelps stands on the verge of winning his 22nd Olympic Medal, the venue where he won his first one in 2004 stands as a symbol to Greece’s broken economy and the boondoggle they invested in when they agreed to host the Olympics: There’s still one […]

Photo Of The Day: Greek Apocalypse Edition

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This photo currently appears on the home page of The New York Times above a story about Sunday’s elections in Greece: Yes, this is going to end well.

Greece To Hold New Elections

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Not surprisingly, the final efforts to form a workable coalition government in Greece have failed: ATHENS—Greece is heading to new elections after political party leaders failed to reach an agreement to form a coalition government following an inconclusive election May 6 that left the cash-strapped country deeply divided and put its fate in the euro […]

Talks To Form Greek Coalition Government Collapse

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The latest effort to form a government out of last Sunday’s confusing election in Greece seems to have failed: ATHENS — Talks to form a new Greek government collapsed on Sunday, when the leader of a left-wing party that favors rejecting Greece’s loan agreement with foreign creditors again refused to join a unity coalition, making […]

Greece Likely To Face New Elections

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It looks like Greece is headed for another round of Parliamentary elections after all the major parties failed to form a workable coalition government: ATHENS — Just three days after elections in Greece left a fractured political landscape, and raised further doubts about its commitment to a foreign bailout and its future in the euro […]

Greek Voters Give Boost To Far Left, Neo-Nazi Parties In Rebellion Against Bailout

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Apparently upset with the austerity conditions necessitated by decades of government profligacy, Greek voters have opened their political system to some potentially dangerous forces: ATHENS — Greek voters appeared to radically redraw the political map on Sunday, bolstering the far left and neo-Nazi right in a wave of protest against the dominant political parties they […]

Greece Declares Pedophilia A Disability [Post Updated With A Correction]

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At the very least, something tells me this is a really stupid thing to do when you are running a country that has no money: The Greek government is being denounced by the National Confederation of Disabled People after it added pedophiles, exhibitionists, and kleptomaniacs to the list of disabled people entitled to state benefits. […]

Time’s 2011 Person Of The Year: “The Protester”

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Time Magazine has chosen “The Protester” as its Person Of The Year. Let the outrage ensue.

The Unreported Greek Bank Run

Greek Bank Deposits

Tyler Durden at Zero Hedge points out a story that the mainstream press isn’t noticing yet. The Greeks are, perhaps not surprisingly, pulling their money out of Greek banks: According to just released data by the Bank of Greece, the September collapse in gross deposits from €188.7 billion €183.2 billion was the largest ever, and […]

Two on Greece, the Eurozone, and the IMF

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What we don’t know might hurt us.

Congratulations, Greece (Updated)

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Terrorism risk assessment: Russia at “Extreme Risk”, Greece at “High Risk”, U. S. at “Medium Risk”, Canada and Germany at “Low Risk”.

Our Greek Cousin

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Rodina Scenario, Rosy’s Greek cousin, is alive, well, and proposing solutions to the Greek debt crisis: The Greek government and the European Union (EU) leadership, prodded by the International Monetary Fund (IMF), are finally becoming realistic about the dire economic situation in Greece. They have abandoned previous rounds of optimistic forecasts and have now admitted […]

I’m Sorry, Dave

Tyler Durden explains why the IMF is unlikely to dig Portugal, Ireland, Italy, Greece, and Spain (the PIIGS) out of the hole they’ve been digging: Total PIIGS funding needs (defined as the sum of debt maturities and budget deficits) over the next 3 years amount to $2 trillion. Total PIIGS funding needs in 2010 alone […]

The End of the Euro Will Be Blogged

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We haven’t posted much about it here but it’s certainly receiving a lot of attention on the other side of the pond. The ongoing fiscal problems of a number of the members of the European Union—Portugal, Ireland, Italy, Greece, and Spain, not so affectionately being referred to as “the PIIGS”—appear to be reaching the boiling […]

Euro Fate Rests in German Hands

Angela Merkel Greek Rescue Summit

The unfolding Euro crisis has raised a new variant on the old German Question.  For much of its history as a state, Germany has been the pivotal state in Europe.  After the Cold War and the reunification of East and West, the fate of “Europe” as a unified political and economic space depended entirely on […]

Greece’s Socialists Win

Greece’s Socialist Party has defeated the New Democracy Party in the country’s national elections with enough seats to form a government: ATHENS (Reuters) – Greece’s Socialists, who campaigned on a promise to inject a 3 billion euro ($4.36 billion) stimulus package into the economy, have won Sunday’s national election with enough seats to form a […]

Karamanlis the Uniter

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Greece is going into its second week of riots: Hundreds of people are staging fresh protest rallies in Athens, after days of rioting sparked by the killing of a teenager by police in Greece. They gathered near the capital’s police headquarters and the main court, where some of the protesters arrested last week were to […]