Greece

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Letter Bombs Explode in Athens

Swiss and Russian embassies hit with attack

(Newser) - Letter bombs exploded at the Russian and Swiss embassies in Athens today, and three more were sent to other embassies in the Greek capital, the New York Times reports. So far, no injuries have been reported from those two blasts. According to Greek media reports, the Swiss embassy threw a...

Greeks Nab Parcel Bomb Addressed to Sarkozy

Others addressed to various embassies; no al-Qaeda link seen

(Newser) - Greek police have intercepted several packages containing “explosive devices,” one of which was addressed to Nicolas Sarkozy, Reuters reports. One, addressed to the Mexican embassy, exploded at an Athens courier firm, slightly wounding an employee. Others addressed to the Dutch and Belgian embassies were detonated by police. Two...

Greeks Find 6 Human Skulls In US Tourists' Luggage

Americans thought they were fakes

(Newser) - Security officials at Athens international airport discovered six human skulls while scanning the luggage of two US tourists. The unidentified pair said they bought the skulls in a tourist shop in Mykonos and thought they were fakes. "The skulls were found in a scanner check during a stop-over in...

Greece Simmers as Austerity Plan Backfires

Unrest predicted as unemployment soars

(Newser) - The Greeks are still broke and they're getting angrier about it. An austerity plan meant to put the country back on the road to economic health has plunged Greece into a depression, with the unemployment rate approaching 70% in some areas. Almost a fifth of stores in Athens have declared...

Bankrupt Greece Selling Islands

Sell-off looms as Greece struggles with debt

(Newser) - What's a country with no money and thousands of islands to do? Greece is trying to pay off some of its massive debt by selling or offering long-term leases on some of its 6,000 islands, only 227 of which are inhabited, the Guardian reports. The country, which received a...

Bomb Kills Greek Counter-Terror Aide

Parcel bomb rocks law enforcement ministry

(Newser) - A parcel bomb shook Greece's law enforcement ministry last night, killing a top aide to the country's public order minister. The blast—believed to have been caused by a bomb disguised as a box of sweets—shook the building so much that workers thought there had been an earthquake, the...

Is US Like Greece? NYT Writers Disagree
 Is US Like Greece? 
 NYT Writers Disagree 
krugman vs. leonhardt
May 12, 2010 1:10 PM CDT

Is US Like Greece? NYT Writers Disagree

Our federal debt may or may not doom us

(Newser) - David Leonhardt warns in the New York Times today of the parallels between Greece and the US. "The basic problem is the same," he says. "Both countries have a bigger government than they're paying for." He cites a stat showing that our federal debt is projected...

Why the World Should Worry About California

It faces the same troubles that shook Greece

(Newser) - Greece's financial trouble may have seemed far off before it helped send the stock market into a tizzy. Business Insider says the same kind of mess could easily hit even closer to home, in California. A sampling of its 16 reasons:
  • Even after last year's huge cuts, the state still
...

Stray Dog Sides With Greek Protesters

Photogenic 'Kanellos'—or perhaps 'Louk'—goes where the action is

(Newser) - You weren't imagining things when you saw a dog trotting around downtown Athens this week as riots raged around him. The tawny shorthaired mutt has turned up in a surprising number of images over the past couple of years, reports the Guardian , which IDs the dog as Kanellos. But Gawker...

Greece Mess Means Big Trouble for Euro
 Greece Mess Means 
 Big Trouble for Euro 
Paul Krugman
May 7, 2010 8:35 AM CDT

Greece Mess Means Big Trouble for Euro

Athens will probably have to leave the currrency

(Newser) - Greece is not the "next Lehman," writes Paul Krugman. It's not "big enough or interconnected enough" to cause that scale of global mess, or even yesterday's nightmare on Wall Street. But don't be too reassured. "Greece’s problems are deeper than Europe’s leaders are willing...

Don't Blame Greece; Market Was 'Ripe for a Fall'

If Greek worries were the cause, gold wouldn't be soaring

(Newser) - For months now, traders have suspected that the bullish market is heading for a big correction. We may have just seen step one, writes Mark Hulbert at MarketWatch . Lots of people are blaming Greek debt fears for today's turbulence , but they should instead look to the gold market. "If...

Dow Plunges 980, Then Rebounds

Fears of Greek chaos contributes

(Newser) - The Dow was in freefall today as protests again roiled Greece. Tens of thousands of protesters marched through Athens after lawmakers approved drastic austerity cuts needed to secure international rescue loans worth $140 billion. Fears over the debt crisis helped send the Dow plunging to nearly 1,000 points in...

Flights Grounded, 3 Killed in Greek Strike, Protests

Violence hits Athens just as Berlin weighs $28B loan

(Newser) - Greece was paralyzed by a 24-hour general strike that grounded all air traffic today, and 3 people died in a fire set by protesters trying to storm the parliament, MSNBC reports. Street battles were breaking out in the capital just as Angela Merkel was busy asking the German parliament to...

Europe Offers $41B to Greece
 Europe Offers $41B to Greece 
Apr 12, 2010 4:04 AM CDT

Europe Offers $41B to Greece

Officials hope loan will calm markets

(Newser) - European officials made $41 billion in emergency financing available to Greece, hoping the easy access to credit would soothe fears that the country will default. EU Finance ministers agreed to price the loans at a below-market interest rate of 5%, as the Greek government is already struggling to pay high...

'Inflation Hawks' Will Kill Our Recovery
'Inflation Hawks' Will Kill
Our Recovery
paul krugman
Apr 9, 2010 9:22 AM CDT

'Inflation Hawks' Will Kill Our Recovery

Beware the 'tight-money people' who fear short-term spending

(Newser) - Paul Krugman assesses the economic mess in Greece and sees "no good answers" for them but an important lesson for America. Namely, "steer clear of deflation," a horrible process that Greece must now endure because it's stuck with the euro. We don't have that problem, so let's...

Soon, We'll Be Broke Like Greece
Soon, We'll Be Broke Like Greece 
Dana Milbank
Mar 9, 2010 11:50 AM CST

Soon, We'll Be Broke Like Greece

Unless things change, the US will be begging for help, too

(Newser) - America, remember the plight of George Papandreou, the Greek prime minister who arrived in Washington this week, hat in hand, as part of his world tour seeking help for his nearly bankrupt nation. Because “if current trends persist, an American president will be doing the same thing in about...

Banks That Hid Debt Now Pushing Greece Toward Ruin

Credit-default swaps make default a self-fulfilling prophecy

(Newser) - The same banks that fed the Greek financial crisis are wagering on the country's collapse— and in doing so, critics say, they're making default more likely. Goldman Sachs, JP Morgan and others who helped mask the true extent of Greece's financial problems are now placing bets against the country on...

Merkel, Germany Turn Up Heat on Greece 'Scandal'

Meanwhile, Greeks want Germans to pay them WWII reparations

(Newser) - Angela Merkel ripped into Greece and the bank that helped it massage its budget, saying the country has “falsified statistics for years,” and that “it’s a scandal if it turned out that the same banks that brought us to the brink of the abyss helped.”...

Greek Debt Crisis Is Warning for US
 Greek Debt Crisis 
 Is Warning for US 
OPINION
Feb 17, 2010 1:24 AM CST

Greek Debt Crisis Is Warning for US

Partisan deadlock allowed budget problems to fester

(Newser) - America's on course to become much more like Greece and not in a good way, warns Anne Applebaum. Greece is bankrupt because of financial weaknesses that were allowed to fester for years. Its budget deficit ballooned largely because the nation's deeply partisan political system was paralyzed and no cuts could...

Bomb in Greece Hits JPMorgan Chase

No injuries; bomber warned newspaper in advance

(Newser) - A bomb exploded at the offices of JPMorgan Chase in Athens this evening. No injuries were reported, and damage was relatively minor. The blast occurred in an upscale area of central Athens, following a warning call to a local newspaper. No group has claimed responsibility, but banks and foreign firms...

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