Greek Opposition Holds Out on Spending Cuts
Prime Minister Antonis Samaras ound the going tough over the weekend as he failed to convince all members of his coalition that additional austerity measures must be enacted to obtain the next tranche of rescue funding.
Greece Forms New Government
On Wednesday Greece managed to agree in principle to form a conservative coalition government, with three pro-bailout parties agreeing to cooperate and giving the coalition a majority of 179 seats.
Greek Mandate Still Unfulfilled
Four days after Greek elections that left five anti-bailout parties seated in Parliament, a ruling coalition still has not emerged.
Elections Leave Greeks Lacking Coalition, Others Rethinking Austerity
Successful votes against austerity from Greece to France have pushed officials to consider other ways to cope with the debt crisis in the euro zone.
Will Election Results Push Euro Down to Its Fair Value?
Jim O'Neill of Goldman Sachs says a drop to 1.20 euros to the dollar is more likely than not.
Sarkozy, Austerity Are Losers in E.U. Elections
Europe could be in for change, if voters in three different countries over the weekend have anything to say about it.
Europe in Disarray as Contagion Spreads
As both Italy and Greece fumbled with successor governments, worries over officials’ failure to find a solution to the debt crisis spread contagion to Italy, where bond yields broke records.
Greece, Italy Face Shifting Governments
The financial crisis that brought down the leaders of both Greece and Italy is not finished with the nations yet. The two Mediterranean states must now focus on who will lead their new governments through the turmoil of their debt crises.
Push for Greek Austerity Vote
Prime Minister George Papandreou pledged to European leaders on a trip to Berlin on Tuesday that Greece would pass the latest round of austerity measures required for Athens to receive the latest round of funding its rescue package.
Greece Expected to Pass Austerity Despite Protests
Even though protests erupted into violence, it looked likely that Greece's Parliament would pass the tough austerity measures demanded by the EU and IIMF in exchange for the next tranche of funding to ward off default.