“Greece is in a free fall,” Yanis Varoufakis says to me as we sit down for an interview at his apartment in Athens, and it sets the tone of the half-hour conversation that follows [...]
A 24-hour general strike is under way in Greece in protest at the nation’s austerity measures.
The growing concerns over Europe’s heavy debt and China’s possible role in solving the problem.
European and US officials met Friday to discuss how to save the European currency, the euro.
Chinese premier Wen Jiabo told western countries to sort out their debt problems.
Looking for two cities that serve as headquarters for the Swiss National Bank headquarters.
We close out 2010 with “friends” (as opposed to friends), the Euro continues to dance in distress, and the skunk at the garden party that just won’t go away: Wikileaks.
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There may be nervous chatter about a “double-dip recession.” But Europe’s largest economy doesn’t seem to be paying attention. Germany posted strong growth from April to June. The World’s Jason Margolis tells us what the good economic news in Germany means for Americans. (flickr image: tdietmut) Download MP3Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.
For years, Greece spent more than it had. This month, the inevitable happened. Greece’s bills were about to come due and the country didn’t have enough money to pay them off. At the last minute, the European Union and the International Monetary Fund came to the rescue with loans. The World’s Gerry Hadden has been reporting from Greece on the repercussions of the debt crisis and the country’s efforts to deal with it.
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One of the largest concentrations of Greeks outside Greece is in Queen’s, New York – specifically the area known as Astoria. So what do they make of the financial troubles back in the old country? The World’s Alex Gallafent went to find out. Download MP3 (Photo: Alex Gallafent)Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.
Stock markets have fallen back after shares across the world surged on Monday in the wake of a deal to tackle Europe’s debt crisis. In London, shares fell 1% after rising 5% on Monday, while in Paris, they lost 0.7% after soaring 9% the previous day. Stocks in the US and Germany saw small rises. Marco Werman talks to MIT economist Kristin Forbes about the European bailout and what it means for the global economy. Download MP3 (flickr image:Blatantworld)Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.
Global stock markets have soared after the European Union and International Monetary Fund intervened to stop the Greek debt crisis spreading. Wall Street traded 4% up, after a 5% rise on the main UK and German stock markets, and a 9% surge in France. On Sunday, the EU and IMF agreed a 750 billion euro ($975 billion) loan-guarantee deal. Marco Werman talks with Ken Rogoff, a former chief economist for the International Monetary Fund. Download MP3 (flickr image: giorgos_vr)Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.
Three people have been killed in the Greek capital, Athens, where protests against big cuts in government spending have turned violent. The austerity program is being brought in so that Greece can receive an international financial bailout and avoid defaulting on its debts. Marco Werman speaks with one of the protestors, Despina Koutsoumba, who’s an elected official with the Greek Civil Servants’ Trade Union. Download MP3
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The European Union appears on the verge of agreeing to emergency loans to Greece. But that doesn’t mean that Greece is out of the woods. Some economists argue this latest loan just kicks the can down the road.
Greece has run up the tab. Now the bill is due. How can the Greeks meet their financial obligations? If they can’t, what happens?
