Greece 'Close' to New Bailout Deal, But at What Cost?

August 29, 2012 from Euronews

Greece's political leaders say they have broadly agreed the latest austerity package demanded by the EU and the International Monetary Fund in return for bailout money, with only a few "minor, technical" details still to be worked out. But some top members of the coalition government said they could not agree to cuts that will mean more pain for low-wage earners and pensioners.

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Greek government-debt crisis

The Greek government-debt crisis is one of a number of current European sovereign-debt crises and is believed to have been caused by a combination of structural weaknesses of the Greek economy coupled with the incomplete economic, tax and banking unification of the European Mo... Explore this topic

Antonis Samaras

Antonis Samaras is a Greek economist and politician who has been Prime Minister of Greece since 20 June 2012. He has been leader of New Democracy, Greece's major conservative party, since 2009. Previously, Samaras served as Minister of Finance in 1989, then as Minister of Fore... Explore this topic

Austerity

In economics, austerity describes policies used by governments to reduce budget deficits during adverse economic conditions. These policies can include spending cuts, tax increases, or a mixture of the two. Austerity policies may be attempts to demonstrate governments' liquidi... Explore this topic

Fotis Kouvelis

Fotis-Fanourios Kouvelis is a Greek lawyer and politician and independent Member of Parliament. He is the leader of the Democratic Left party. He was born in Volos. He studied law and political science at the University of Athens. A member of Lambrakis Youth, he was a founding... Explore this topic

Evangelos Venizelos

Evangelos Venizelos is a Greek politician, a former Deputy Prime Minister and Minister for Finance of Greece from 17 June 2011 to 21 March 2012. He is a member of the Hellenic Parliament for the Panhellenic Socialist Movement for the first electoral district of Thessaloniki. H... Explore this topic

Greece

Greece, officially the Hellenic Republic, is a country in Southeast Europe. According to the 2011 census, Greece's population is around 11 million. Athens is the nation's capital and largest city, its urban area also including Piraeus. Greece is strategically located at the cr... Explore this topic

Economy of Greece

The economy of Greece is the 32nd or 37th largest in the world at $312 or $309 billion by nominal gross domestic product or purchasing power parity respectively, according to World Bank statistics for the fiscal year 2009–2010. Additionally, Greece is the 15th largest economy ... Explore this topic

International Monetary Fund (IMF)

The International Monetary Fund is an international organization that was initiated in 1944 at the Bretton Woods Conference and formally created in 1945 by 29 member countries. The IMF's stated goal was to assist in the reconstruction of the world’s international payment syste... Explore this topic

European Union

الاتحاد الأوروبي هو جمعية دولية للدول الأوروبية يضم 27 دولة، تأسس بناء على اتفاقية معروفة باسم معاهدة ماسترخت الموقعة عام 1992 م، ولكن العديد من أفكاره موجودة منذ خمسينات القرن الماضي. من أهم مبادئ الاتحاد الأوروبي نقل صلاحيات الدول القومية إلى المؤسسات الدولية الأوروبية. لكن ... Explore this topic

Politics of Greece

The Politics of Greece takes place in a parliamentary representative democratic republic, whereby the Prime Minister of Greece is the head of government, and of a multi-party system. Legislative power is vested in both the government and the Hellenic Parliament. Between the re... Explore this topic

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Greek government-debt crisis

Antonis Samaras

Austerity

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