August 3, 2012 |
If you have a sick friend whose illness could affect your own health, you might go so far as to suggest the medicine he should take. Such was the case with Treasury Secretary Timothy Geithner, who recently paid a visit to European leaders and, in particular, his German counterpart, Finance Minister Wolfgang Schaeuble. The Obama administration is afraid that a deepening euro crisis will damage the global economy even more than it has, which, of course, would impact American jobs.
July 11, 2012 |
America's most famous Greek-born high-stakes gambler, Nicholas Andreas "Nick the Greek" Dandolos, died a poor man in 1966. More recently, the Greek American Archie Karas used smarts and recklessness to become a Vegas legend. These men have little in common with the many prominent American scientists, public servants, entrepreneurs, artists, and intellectuals who can trace their roots to Greece. But they provide a mirror to reflect on the current Greek crisis. What happened in Greece is the political equivalent of what happened in America's financial industry: Like the executives of insolvent U.S. companies, Greece's politicians have not seen their personal fortunes falter.
July 1, 2012 |
THESSALONIKI, Greece - Archaeologists in Greece's second-largest city have uncovered a 230-foot section of an ancient road built by the Romans that was the city's main travel artery nearly 2,000 years ago. The marble-paved road was unearthed during excavations for Thessaloniki's new subway system, which is due to be completed in four years. The road in the northern port city will be raised to be put on permanent display when the metro opens in 2016. The subway works, started in 2006, present a rare opportunity for archaeologists to explore under the densely populated city - but have also caused years of delays for the project.
June 23, 2012 |
With Chancellor Angela Merkel cheering them on, Germany reached the European Championship semifinals for a record seventh time by beating Greece, 4-2, on Friday in Gdansk, Poland, in a match played amid the contentious political atmosphere between the countries. As in economics, where Germany has been a major contributor to bailouts while insisting on deep austerity measures in return for funds for Greece, the three-time champions were in control of the game. Philipp Lahm put Germany in the lead in the 39th minute as his team dominated nearly every facet.
June 21, 2012 |
ATHENS, Greece - Greece moved to end its protracted political impasse Wednesday, swearing in a new prime minister to lead a largely pro-bailout coalition tasked with saving the country's place in the eurozone and easing a European financial crisis with global repercussions. Antonis Samaras, 61, a U.S.-educated economist, became the fourth prime minister in eight months. "I know well the need to restore the dignity of the Greek people that has been wounded," he said. "I know the need for a quick recovery of the economy to restore social justice and social cohesion.
June 20, 2012 |
ATHENS - Top Greek political parties were close Tuesday to forming a coalition government to try to steer the country back to economic health and provide it with its first elected leadership in more than seven months. Talks continued on a power-sharing agreement in which Antonis Samaras, who led the center-right New Democracy Party to a first-place finish in Sunday's election, would become prime minister in alliance with traditional rivals from the Socialist Party and the smaller Democratic Left.
June 19, 2012 |
Greek election winner Antonis Samaras begins a second day of talks Tuesday to form a coalition after holding "constructive" meetings with two party leaders, racing to forge a government that keeps bailout aid flowing. Samaras secured initial agreement Monday from Socialist Pasok leader Evangelos Venizelos, the former finance minister who negotiated the second rescue, and said he'd hold further talks Tuesday with Fotis Kouvelis, leader of the Democratic Left party. If those three team up, they will hold a majority of 179 seats in the 300-member Greek parliament.
June 17, 2012 |
Greece held off a relentless Russian attack Saturday for a 1-0 win in Warsaw, Poland, that put the 2004 champions into the European Championship quarterfinals and eliminated heavily favored Russia. The Greeks took the lead just before halftime when Giorgos Karagounis sent a low shot under Russian goalkeeper Vyacheslav Malafeev in the final touch of the first half. The Greeks then did what they do best: defend. "The moments are pure magic for all of us. This is a great night for all Greeks," Karagounis said.
June 12, 2012 |
ATHENS, Greece - Alexis Tsipras has rarely been on good terms with Greece's establishment. During high school, he took part in a three-month student protest against education reform that shook the conservative government of the time in the early 1990s, appearing on television as a confident 16-year-old spokesman for the protest movement. Two decades later, he's rattling Europe and the world economy as he campaigns to become Greece's next leader with a simple if startling pledge: to tear up a multibillion-euro international agreement that bailed out Greece as it hurtled toward bankruptcy.
May 27, 2012 |
Will Greece exit the eurozone? Hard to believe, but the answer to this question could determine the fate of the U.S. economy this year. Global investors have been driving stock prices down, as odds rise that Greece will quit the European currency union. Greece is at loggerheads with Germany, the dominant European economy that dominates policy decisions for the continent. German leaders want the Greeks to get their financial house in order; i.e, to stop borrowing money and ultimately to repay the hundreds of billions of euros they owe. Most of those euros are owed to Germany.