August 31, 2012 |
BERLIN - Chancellor Angela Merkel wants the Greeks to keep the euro. Her vice chancellor says it wouldn't be so bad if they abandoned the common currency. Another Merkel ally says Greece should leave the euro club within months. Merkel's image abroad may be that of Europe's determined taskmaster, but at home the picture has long been less clear: Her coalition government has become notorious for infighting over a range of issues. At first glance, the cacophony over Greece fits that picture - but it shouldn't be mistaken for policy drift.
August 26, 2012
"It was confirmation of [Ben] Bernanke's commitment to potentially do something more if the economy appears it needs it. A little whiff of positive news was enough. " - John Carey, of Pioneer Investments, Boston, on the cause of a market rally on Friday. "I want Greece to stay in the euro zone and that's what I'm working for. " - Angela Merkel after meeting Greek Prime Minister Antonis Samaras in Berlin. "The 787 keeps turning into a deeper pit for Boeing. " - Peter Harbison, chairman, CAPA Center for Aviation, on the troubled and expensive Dreamliner.
August 24, 2012 |
NEW YORK - Nobody ever said reading the Federal Reserve was easy. On Wednesday, the Fed appeared to suggest it was closer to taking additional steps to help the U.S. economy. Stocks rallied and finished the day well off their lows. But the prospect of Fed help seemed much less certain Thursday, and stocks fell. The Dow Jones industrial average lost 115.30 points to close at 13,057.46 - the biggest loss in more than a month and the Dow's fourth straight down day. James Bullard, president of the Fed's St. Louis bank, told CNBC that the minutes from the July 31-Aug.
August 24, 2012 |
ATHENS, Greece - Greece's premier embarked Wednesday on a diplomatic push to earn his nation more time to complete reforms and retain access to bailout loans, but a top European official said that any decision will depend on a report by international debt inspectors next month. Jean-Claude Juncker, who chairs meetings of eurozone finance ministers and is Luxembourg's prime minister, insisted that Greece must remain within the euro. Its exit from the currency used by 17 European Union countries would hurt both the country and the wider continent, he said.
August 22, 2012
MISSOURI Senate candidate Todd Akin caused a firestorm over the weekend when he explained why he believes there are no exceptions that would allow abortion, even in cases of rape: "If it's a legitimate rape, the female body has ways to try to shut that whole thing down" and not get pregnant. Akin may have been referencing some of the ancient Greek texts that had similar strange views about how the human body functions. For example, people in ancient Greece believed that hysteria was caused by the womb detaching itself and wandering around the body, causing all kinds of problems.
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.