Greek Prime Minster George Papandreou, who was born and raised in the U.S., belongs to Greece's most important political dynasty — he's the son and grandson of prime ministers.And yet just two years after he led the Socialist party to victory, his popularity has plummeted, his debt-stricken country
Financial markets in Europe and the United States slumped badly Monday after Greece conceded it will not meet its deficit reduction goals for this year — or next — despite its austerity measures.Stocks indexes in the U.S., France, Germany and Spain all fell about 2 percent.The markets were respondin
Germany's parliament approved a plan Thursday to expand the power of a European bailout fund for troubled countries that use the euro.The Bundestag, or lower house, passed the bill 523-85 in a vote considered one of the biggest in Chancellor Angela Merkel's career.Foreign Minister Guido Westerwelle
Greece's capital city was gridlocked Wednesday as mass-transit workers walked off the job for the third day this week over fresh austerity measures imposed by the government in hopes of securing crucial bailout funds.The 24-hour strike left Athens without buses, subway trains, taxis or trams.
Greek lawmakers approved a controversial new property tax Tuesday that aims to boost revenue as the country struggles to obtain a critical installment of international bailout loans that will prevent it from default.The new tax passed 154-143 in the 300-member parliament.