Greece Austerity

Especially in borrower countries like Greece and Argentina, the IMF still gets portrayed as an enforcer of one-size-fits-all policies based on austerity and the unimpeded flow of goods and money.

The protest strike in Greece was called by the main public and private sector unions a day before parliament was due to vote on reforms that would unlock the next tranche of funds from an 86 billion euro bailout.

Greece's latest austerity measures are choking off one of its few sources of local private investment, the funds management industry, thanks to massive tax hikes buried in 7,500 pages of financial reforms approved by the parliament last month.

Young Greek women are selling sex for the price of a sandwich as six years of painful austerity has pushed the European country to the financial brink, a new study showed Friday.

Striking Greeks took to the streets on Thursday to protest austerity measures, setting Alexis Tsipras' government its biggest domestic challenge since he was re-elected in September promising to cushion the impact of economic hardship.

Greek Prime Minister-elect Alexis Tsipras has reaffirmed his dominance on the political landscape, but now faces the challenging task of building consensus in a fractious society traumatised by years of austerity, local media said today.

The Greek parliament passed sweeping austerity measures demanded by lenders to open talks on a new multibillion-euro bailout package to keep Greece in the euro, but dozens of hardliners in the ruling Syriza party deserted Prime Minister Alexis Tsipras.

The IMF's stark warning on Greece's debt came as Prime Minister Alexis Tsipras struggled to persuade deeply unhappy leftist lawmakers to vote for a package of austerity measures.

An International Monetary Fund study published on Tuesday showed that Greece needs far more debt relief than European governments have been willing to contemplate so far, as fractious parties in Athens prepared to vote on a sweeping austerity package demanded by their lenders.

The updated debt sustainability analysis (DSA) was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout programme of up to 86 billion euros in return for tougher austerity measures and structural reforms.

The terms imposed by international lenders led by Germany in all-night talks at an emergency summit obliged leftist Prime Minister Alexis Tsipras to abandon promises of ending austerity and could fracture his government and cause an outcry in Greece.

Sceptical euro zone finance ministers demanded on Saturday that Greece go beyond painful austerity measures accepted by Prime Minister Alexis Tsipras if he wants them to open negotiations on a third bailout for his bankrupt country to keep it in the euro.

Greece faces a last chance to stay in the euro zone today when Prime Minister Alexis Tsipras puts proposals to an emergency euro zone summit after Greek voters resoundingly rejected the austerity terms of a defunct bailout.

The euro held steady Tuesday as investors await the next move by European leaders after Greece at the weekend voted against accepting more austerity measures, pushing closer to a eurozone exit.

The eurozone's poorer former communist nations, having themselves endured painful market reforms and austerity programmes, are taking a hard line on Greece after its people voted to reject bailout terms.

Especially in borrower countries like Greece and Argentina, the IMF still gets portrayed as an enforcer of one-size-fits-all policies based on austerity and the unimpeded flow of goods and money.

The protest strike in Greece was called by the main public and private sector unions a day before parliament was due to vote on reforms that would unlock the next tranche of funds from an 86 billion euro bailout.

Greece's latest austerity measures are choking off one of its few sources of local private investment, the funds management industry, thanks to massive tax hikes buried in 7,500 pages of financial reforms approved by the parliament last month.

Young Greek women are selling sex for the price of a sandwich as six years of painful austerity has pushed the European country to the financial brink, a new study showed Friday.

Striking Greeks took to the streets on Thursday to protest austerity measures, setting Alexis Tsipras' government its biggest domestic challenge since he was re-elected in September promising to cushion the impact of economic hardship.

Greek Prime Minister-elect Alexis Tsipras has reaffirmed his dominance on the political landscape, but now faces the challenging task of building consensus in a fractious society traumatised by years of austerity, local media said today.

The Greek parliament passed sweeping austerity measures demanded by lenders to open talks on a new multibillion-euro bailout package to keep Greece in the euro, but dozens of hardliners in the ruling Syriza party deserted Prime Minister Alexis Tsipras.

The IMF's stark warning on Greece's debt came as Prime Minister Alexis Tsipras struggled to persuade deeply unhappy leftist lawmakers to vote for a package of austerity measures.

An International Monetary Fund study published on Tuesday showed that Greece needs far more debt relief than European governments have been willing to contemplate so far, as fractious parties in Athens prepared to vote on a sweeping austerity package demanded by their lenders.

The updated debt sustainability analysis (DSA) was sent to euro zone governments late on Monday, hours after Athens and its 18 partners agreed in principle to open negotiations on a third bailout programme of up to 86 billion euros in return for tougher austerity measures and structural reforms.

The terms imposed by international lenders led by Germany in all-night talks at an emergency summit obliged leftist Prime Minister Alexis Tsipras to abandon promises of ending austerity and could fracture his government and cause an outcry in Greece.

Sceptical euro zone finance ministers demanded on Saturday that Greece go beyond painful austerity measures accepted by Prime Minister Alexis Tsipras if he wants them to open negotiations on a third bailout for his bankrupt country to keep it in the euro.

Greece faces a last chance to stay in the euro zone today when Prime Minister Alexis Tsipras puts proposals to an emergency euro zone summit after Greek voters resoundingly rejected the austerity terms of a defunct bailout.

The euro held steady Tuesday as investors await the next move by European leaders after Greece at the weekend voted against accepting more austerity measures, pushing closer to a eurozone exit.

The eurozone's poorer former communist nations, having themselves endured painful market reforms and austerity programmes, are taking a hard line on Greece after its people voted to reject bailout terms.