Debt Crisis

2:00am

Wed February 15, 2012
Europe

Financial Crisis Takes A Toll On Greece's Aesthetics

The Greece debt crisis has forced the country to look to the eurozone for a bailout. But Greece is looking less and less like part of Europe. In the capital Athens, they are still cleaning up from the weekend riots. Even in its tourist precincts, the area is shabby and covered with graffiti.

6:11am

Mon February 13, 2012
The Two-Way

Greeks Clash With Police Over Latest Austerity Measures

It was the calm after the storm in Athens today after a night of riots sparked by a new round of painful austerity measures.

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7:05am

Thu February 9, 2012
The Two-Way

Greek Government Reaches Austerity Deal That's Key To Bailout Payment

European Central Bank President Mario Draghi says he's been told by GreekPrime Minister Lucas Papademos that a deal has been reached on new austerity measures that Eurozone finance ministers have been seeking from Greece before it gets a crucial $173 billion bailout, The Financial Times is reporting.

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2:00am

Wed February 8, 2012
Business

To Get Bailout, Greece Must Reduce Minimum Wage

Originally published on Wed February 8, 2012 4:42 am

Transcript

RENEE MONTAGNE, HOST:

The deal Greek officials are working on includes several more painful concessions. Among them, reducing the minimum wage.

Joanna Kakissis reports from Athens on how strong unions secured those wages and why some economists say those guarantees have to go.

JOANNA KAKISSIS, BYLINE: The minimum wage in Greece is about one $1,000 a month before taxes. International lenders say it must be reduced to about $780 a month to make the Greek economy more competitive.

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10:01pm

Tue February 7, 2012
Europe

Labor Law Changes May Offer Relief For Spain's Youth

Spaniards march through the streets of Madrid, Nov. 27, 2011, to protest spending cuts, high unemployment and political corruption. The government is proposing an overhaul of the country's two-tier labor system, in order to close the gap between temporary and permanent workers.
Pedro Armestre Getty Images

For his age group, Spaniard Miguel Viada is one of the lucky ones. The 25-year-old has a temp job, at the help desk of a tech company in Madrid. But three out of his four roommates are unemployed.

They spend hours on the computer, sending out resumes, he says.

"It's impossible. They find jobs, but for one month, or something like that. And not in very good places or situations," says Viada, who has a master's degree.

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