Greece

5:05am

Fri March 9, 2012
The Two-Way

Greece Takes Critical Step Toward Avoiding Bankruptcy

The European Union flag flies in front of the Parthenon in Athens. Greece's EU partners are about to give it another massive bailout.
Louisa Gouliamaki AFP/Getty Images

The important takeaway from this morning's news about Europe's financial mess:

It seems less likely that Greece will go bankrupt and more likely that it will get another international bailout that hopefully will shore up the nation's economy and prevent a domino-like tumble of other ailing European nations and the unsettling repercussions that could have for the U.S. economy.

As The Associated Press writes:

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1:13pm

Thu March 8, 2012
Europe

With Cutbacks, Greeks Say Antiquities Are At Risk

Originally published on Thu March 8, 2012 4:11 pm

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

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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3:37pm

Wed March 7, 2012
Europe

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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2:03pm

Tue February 28, 2012
The Two-Way

IMF Chief Christine Lagarde: The European Union Is 'A Work In Progress'

International Monetary Fund Managing Director Christine Lagarde.
Chip Somodevilla Getty Images

On tonight's All Things Considered, NPR's Robert Siegel talks to the chief of the International Monetary Fund Christine Lagarde.

Naturally, Robert focused his interview on Greece, which has been engulfed in a debt crisis that has threatened its membership in the European monetary union. Robert asked Lagarde about the tough austerity measures Greece has agreed to and whether those measures could promote a shrinking economy as opposed to getting Greece back to prosperity.

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12:28pm

Tue February 21, 2012
The Two-Way

Greece: So, What Now?

Originally published on Tue February 21, 2012 2:06 pm

Restoration work on the pillars of the Parthenon atop Athens' Acropolis is symbolic of Europe's recent negotiations to save Greece from default.
Oli Scarff Getty Images

Greece is looking more and more like one of those "troubled homeowners" we hear so much about.

It's underwater and struggling to cover debts worth far more than its gross domestic product. So nervous lenders are offering to write down some of those loans in hopes of sending Greece a lifeline and keeping Athens current on its payments.

In return, the country has agreed to put its balance sheet in order, a process that is going to be neither easy nor quick.

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