Tag: debt
Small Greek community turns to local currency as economy struggles
In Volos, locals have started to use their own barter-based currency, called TEM. It hasn't replaced the euro but lives alongside it, and local residents say they can't imagine how their economy would function without it....
Spanish community looks to marijuana growing as road to economic recovery
Rasquera, population about 3,000, has a budget problem. Roughly $1.5 million in debt from run-of-the-mill infrastructure projects. Like most Spanish communities, the economic downturn and debt crisis has laid it low, but a new plan has emerged, grow marijuana, that could pay off its bills -- if it doesn't split the town in half first....
Protesters stand vigil outside European Central Bank, critical of treatment of Greece
As Greece tries to recover from the bailouts, the failed economy and the austerity measures, a small group of protesters have gathered outside the European Central Bank in Germany to criticize the measures that bank has insisted on in order for Greece to access the bailout funds it needs....
Republicans propose budget that Democrats say amounts to a broken promise
Rep. Paul Ryan, the Republican chairman of the House budget writing committee, is preparing to unveil his latest plan for government spending. Democrats are already criticizing it as an example of Republicans breaking the agreement the two parties reached last August....
Greek antiquities at risk as budgets shrink, economy falters
Greece's antiquities are being stolen at an increased rate as Greek budgets shrink — especially those for security around cultural sites. Greece's archaeologists are turning to the public for help in keeping the country's heritage top of mind as budgets get cut....
Homelessness a growing problem in Greece
In Greece, the economic downturn and debt crisis has forced an increasingly large number of people out on the street. The government shelters can't do enough, so it's left up to private groups. And they're struggling to meet the burden....
At Greek winery, signs of economic crisis are few and far between
Dimitrios Georgas' winery is an oasis of economic security in Greece. He makes just 50,000 bottles of wine each year, sells direct to consumers whenever possible and lives a simple life....
Spanish farmers faced with ruinous tax hikes
As Spain's economy roared, Spanish farmers were able to sell their land for giant profits. But when the economy tanked, farmers who were poised to sell the land were stuck with higher tax bills and no one looking to build new developments....
German Parliament OKs more bailout funds for Greece
As Greece continues to try and arrest its economic decline, Germany OK'd another $170 billion worth of bailout funds to keep the government operating, to prevent the country from going bankrupt and to keep Greece in the eurozone....
Homelessness, unemployment remain as Greece again narrowly avoids default
The austerity measures that Greece agreed to in order to receive its latest round of bailout funds are likely to only prolong the misery of Greeks who find themselves without jobs and without a place to live....
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