Greek economy referendum
Markets rise and fall as effects of weekend Greek elections begin to be felt
Greek voters went to the polls on Sunday and, relatively narrowly, backed a political party in favor of the Greek bailout. And while markets initially greeted that news with optimism and rallied upwards, fresh concerns, this time over Spain, dragged them back down by midday.
Greece Forms New Coalition Government; Italy’s Berlusconi Rumored to Be Resigning
Embattled Greek Prime Minister George Papandreou will resign once plans for a new coalition government are finalized. Papandreou and his political rival, conservative leader Antonis Samaras, reached a deal on Sunday to form a unity government to implement the unpopular austerity measures required by a bailout deal reached with European leaders. The new government is expected […]
Greek Leaders Reach Agree to Form New Unity Government
Later today, Greek Prime Minister George Papandreou and Greece’s main opposition leader are expected to announce details about their plan to form a new unity government and to name a new prime minister. Greece has rarely had unity governments. But fears that the crisis could infect other euro zone nations, like Italy and Spain, has pushed […]
Top of the Hour: Papandreou Faces No-Confidence Vote, Morning Headlines
Embattled Greek Prime Minister George Papandreou will face a vote of no confidence in Parliament on Friday. Papandreou has been under pressure to resign after calling for a referendum on a European bailout plan – a position he walked away from on Thursday.
Europe on the Brink as Greece Calls Off Referendum
In Cannes, leaders from the world’s 20 largest economic nations are meeting to discuss the most pressing fiscal matters across the globe. On top of that list is Greece and the high-stakes political gamesmanship of the country’s Prime Minister George Papandreou. Papandreou called off a plan to hold a referendum on his country’s loan deal with the […]