Protesters stormed government offices in Athens breaking doors and overturning chairs as they tried to get to Employment Minister, Yiannis Vroutsis. The minister, who was in the office at the time of the assault, escaped the conflict unharmed.
Police made 33 arrests and used batons to disperse the crowd that managed to surge into the waiting rooms outside the main offices. Continue reading
“There is definitely a glimmer of hope,” Greek finance minister Yannis Stournaras told the BBC. “Light at the end of the tunnel.”
Greece is still receiving a large amount of bailout money from the European Union amid austerity measures that have caused massive strikes among public sector employees. The money is expected to continue being given to the country through the first half of the year. Continue reading
Greek transportation workers are facing a threat of arrest in light of an eight-day strike that has crippled commerce in the country.
Over half a million Greek workers have been unable to get to work because of the stoppage of the city’s underground system. Union workers have been stating that they will defy the threat and even “step up” strike action. Continue reading
The latest report on Greece’s unemployment shows the country’s rate at 26.8%, rocketing them past Spain as the country with the highest rate in the EU. Continue reading
November figures have Eurozone unemployment at a new record high of 11.8%, rising .1% from October figures and the previous high. The European Union as a whole held at 10.7%. Continue reading
Standard and Poor’s has surprised economists by raising Greece’s credit rating six levels from “selective default” to “B-minus”.
S&P stated the continued efforts of Eurozone countries to help Greece stay in the Euro and the austerity measures taken by the Greek government to eliminate excessive spending. Continue reading
Unemployment in Greece reached 1 in 4 adults for the first time in the nation’s history according to figures released today.
Greece’s statistical authority reported that the country lost 1,000 jobs a day over the last year. Over 1.26 million citizens were without a job in July. Government budget cuts and a deepening recession ahead for the next year was likely to increase that number. Continue reading
Unemployment in the Eurozone has risen to 18.2 million after releasing economic data for August. The rate of unemployment remained the same after the rate for July was revised upward at 11.4%, however there was an increase of 34,000 out of work in the month.
The highest unemployment rate for an individual nation was Spain where one out of four eligible workers are unemployed. Austria had a rate of 4.5%. The rate in Germany, the Eurozone’s most stable economy, was 5.5%. Continue reading
Greek police used tear gas to disperse a crowd of anti-austerity protesters who attacked the government’s parliament using gasoline bombs.
The protesters are angry about spending cuts of 11.5 billion euros ($15 billion U.S.) the government needs to put in place to secure the country’s next round of bailout funds. The country’s next 31 billion euro ($39.8 billion U.S.) installment is being sought to help continue government operations. However, record unemployment and 1/3 of the country’s citizens under the poverty line many citizens are upset about the cuts to government services. Continue reading
Greece, already under extreme financial pressure, is facing a major blow to several agricultural industries due to a major wildfire raging on the island of Chios.
The fire began on Saturday and has been driven by gale force winds. The out of control blaze has burned over 16,000 acres of forest and farmland. Residents of nine villages have been evacuated due to the blaze. Continue reading
