Greek Bailout

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Three-Party Coalition Greek Parliament Passes Law to Boost Tax Revenues by $3 Billion Annually

The move comes from the coalition government in Greece’s parliament in order to appease creditors to the debt-ridden state as part of its bailout agreements. The law raises taxes on top earners, simplifies tax brackets, and extends income taxes to farmers. As part of its $45.5 billion bailout, Greece has to pass such laws even […]

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The Children Left Behind by the Greek Economic Crisis.

The nation of Greece is alarmed by increasingly common stories of families abandoning their children due to poverty that stems from the economic crisis gripping the Mediterranean state. The Greek economic crisis is putting an increasingly burdensome economic strain on low-income families. The Gasparinatos family put their children up for adoption after their lives had […]

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Eurozone Leaders Prepare for Papandreou’s Departure as Greek Prime Minister.

Things are not getting easier for Papandreou as his crisis stricken government is said to be on the moves to oust him as prime minister and replace him with current finance minister, Evangelos Venizelos. Even though Papandreou survived the confidence vote at 153 to 145, he is a divisive figure incapable of uniting the nation […]

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Embattled Greek Prime Minister George A. Papandreou Survives Parliamentary Confidence Vote.

In a good sign for Greece’s continued membership in the eurozone currency bloc, besieged Prime Minister Papandreou has survived a confidence vote in the Greek parliament with promises to form a unity government. To quote:¬†“I have been in contact with the president and I will visit him tomorrow (Saturday) to inform him of my intentions […]

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Greek Referendum Called Off, Military Leaders Dismissed, Government’s Collapse Feared.

Greek Prime Minister George Papandreou has called off plans for a referendum¬†on the proposed bailout package for Greece’s crippling sovereign debt but this has not shored up support for the embattled Socialist Prime Minister as his government is now expected to collapse in a confidence vote this Friday. The opposition New Democracy Party backed the […]

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Greek Prime Minister George Papandreou’s Call for a Referendum Plunges Greek Government, Markets Into Chaos.

Embattled Greek Prime Minister George Papandreou’s call for a referendum on the proposed Greek bailout package has sent his government teetering on the brink of collapse and left the global financial markets roiling in its wake. Indeed, it has almost become farcical that a nation, incapable of repaying its debts, is now holding the eurozone […]

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Finland asked Greece for collateral, other Euro states miffed.

Euro Group President Jean-Claude Juncker is upset with the bilateral agreement between EU states Greece and Finland with regards to Finland’s request for collateral in the 109 billion euro bailout agreement. Bilateral agreements within the EU are particularly irksome when the other members who contributed to the bailout requested nor received any such concessions. Junckler […]

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