Greece

Europe
4:29 am
Mon March 19, 2012

Greek Bailout Fuels Rise Of Extreme Politics

Policemen shout slogans during a demonstration of Greek security forces against the new austerity measures in Athens.
Aris Messinis AFP/Getty Images

With Greece entering its fifth year of recession and dealing with harsh austerity measures imposed as part of a eurozone bailout deal to save it from default, its society is in upheaval. Opinion polls suggest the old political system is collapsing, and extremist parties are gaining popularity ahead of spring elections.

At a recent protest in Athens, a large bronze bell tolled as thousands of policemen in full uniform marched solemnly through the streets. They ominously waved their handcuffs at Parliament, shouting, "Take your bailout plan and get out of here."

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Europe
3:13 pm
Thu March 8, 2012

With Cutbacks, Greeks Say Antiquities Are At Risk

The entrance to the Museum of the Olympic Games in Olympia, Greece, is cordoned off last month, after two hooded thieves broke into the museum and made away with more than 70 ancient objects. The stolen loot included chariots, horses and a gold ring that was more than 3,000 years old. Greeks say such sites are vulnerable because of cutbacks that have reduced the number of guards.
Dimitris Papaioannoy EPA/Landov

Originally published on Thu March 8, 2012 6:11 pm

At the Museum of the Olympic Games in Olympia, Greece, lush pine trees and olive groves are filled with chirping birds. The one guard at the site looks nervously at the few visitors.

There is still a sense of shock in Olympia following the theft last month at the museum, when armed robbers broke into the building and tied up the single guard on duty.

Archaeologist Kostantinos Antonopoulos says they ran off with 77 priceless objects, including votive figurines, chariots and horses.

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Europe
5:37 pm
Wed March 7, 2012

Uncertainty Looms As Greek Debt Deadline Nears

People walk past the Bank of Greece headquarters in Athens. Greece toughened its stance to push creditors to accept a debt swap and take heavy losses, just one day before the Thursday deadline for completion of the deal to avert default.
Louisa Gouliamaki AFP/Getty Images

Stock prices rebounded somewhat Wednesday, one day after their biggest sell-off of the year. What caused prices to plunge Tuesday was an all-too-familiar problem: the Greek debt crisis.

European officials have cobbled together a deal to keep Greece from defaulting, and investors all over the world who hold Greek bonds are weighing their options. They're worried about what could happen if they reject the deal.

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Europe
4:00 am
Tue February 21, 2012

Bailout Talks Reopen Wounds In One Greek Village

Nikos Bouras, 37, stands next to a monument for those massacred by the Nazis on June 10, 1944, that stands atop the highest hill in the Greek town of Distomo.
Joanna Kakissis NPR

Europe is still a continent that looks over its shoulder at a long and sometimes dark past. That extends even to the protracted Greek bailout negotiations, where Germany's dominant role has scratched at some historical wounds.

Germany occupied Greece during World War II, committing atrocities that some older Greeks can't forget. This history defines the pretty village of Distomo in central Greece, where Nazi soldiers killed 218 men, women and children in June 1944.

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Europe
5:55 pm
Wed February 15, 2012

Europe Wants Assurances For Latest Greek Bailout

In Athens on Tuesday, Greek pensioners marched in protest against new austerity cuts. The eurozone insists Greece must stick to hugely unpopular austerity measures agreed to in return for a 130 billion euro debt bailout.
Louisa Gouliamaki AFP/Getty Images

The European Union says Greece has made some progress, but not enough, to merit the new bailout it desperately needs to avoid default and keep the euro as its currency.

Greeks are increasingly bitter about the austerity measures the EU is imposing on them. And Greece's EU partners are losing trust that the Greeks will implement them.

Now, talk is growing about contingency planning if Greece fails to meet the bailout conditions and defaults.

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Planet Money
9:50 am
Thu January 26, 2012

No, Hedge Funds Can't Foreclose On The Acropolis

DIMITAR DILKOFF AFP/Getty Images

Originally published on Mon May 7, 2012 12:12 pm

Greece is broke. But there's no blueprint for a country to declare bankruptcy, so Greece's creditors are sort of making things up as they go along.

"You're taking some sort of loss," Hans Humes of Greylock Capital Management told me. "But it's like, how much of a loss do you take? There's this thing called sovereign immunity. You can't go in and take the Acropolis."

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