Greece

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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11:40am

Fri February 3, 2012
The Two-Way

'Anonymous' Follows Hacking Of FBI-Scotland Yard Phone Call With Attacks

The Greek Ministry of Justice website after it was hacked earlier today.
Louisa Gouliamaki AFP/Getty Images

A day that began with the Anonymous hackers posting a nearly 17-minute recording of a conference call between officials of the FBI and Scotland Yard has been followed with some tweeted taunting of law enforcement and the news media, and the hacking of websites for the Greek Ministry of Justice, Boston Police Department and lawyers who defended a U.S. Marine at the center of the killing of 24 unarmed Iraqi civilians.

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10:01pm

Wed January 25, 2012
Planet Money

No, Hedge Funds Can't Foreclose On The Acropolis

Originally published on Mon May 7, 2012 10:12 am

DIMITAR DILKOFF AFP/Getty Images

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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2:04pm

Wed December 21, 2011
Latin America

What Greece Can Learn From South America

Originally published on Wed December 21, 2011 3:08 pm

Greek demonstrators protest in Athens on Nov. 8. Similar economic crises in Argentina and Uruguay a decade ago may be instructive for Greece today.
Orestis Panagiotou EPA /Landov

As Greece struggles with a financial crisis, there have been violent protests, creditors demanding their money, people losing their jobs and officials hunkering down.

A decade ago, that was the scene in South America when Argentina and Uruguay defaulted. The two handled the economic calamity in very different ways. Economists say their approaches — and what's happened in each country since — are instructive for European leaders as they try lifting Greece from its turmoil.

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