Wednesday, May 16, 2012 5:29 AM PDT

Greece Debt

The country is battling to rein in a bulging government debt that will reach 125% of GDP this year. Policymakers are hoping to reduce the domestic shortfall from 12.7% last year to less than 3% by 2012. To hit the targets, the Greek government plans to freeze civil servant pay, introduce taxes on wealthy estates, and increase tobacco and alcohol levies by 20%. 

Articles About Greece Debt

Greek crisis
Greek Parties Meet to Discuss Coalition Government

By IBTimes UK

Banks across Europe could be harmed by crisis deepening or refusal to repay debts. (May 13)

MORE TOPICS: ELECTIONS

Greece
Greece Stares at Another Round of Elections

By IBTimes UK

After New Democracy and Syriza, the socialist Pasok becomes the third party to fail to form a coalition government. (May 11)

MORE TOPICS: IMF, ELECTIONS

Greece
Pasok Trying to Form Coalition Government in Greece

By IBTimes UK

Analysts consider the chances of third-placed Pasok slim and warn Greeks may have to vote again. (May 09)

MORE TOPICS: IMF, ELECTIONS

Greek elections
Greek Elections: Political Logjam as Asian Markets Take Fright

By IBTimes UK

The wrangle over the Greece parliament continues as the leftist Syriza party, which is seen as the favourite to form the government, failed to stike a deal with the coalition partners. (May 09)

MORE TOPICS: ELECTIONS

Greece
Greek Elections: Voters Vent Anger Against Two Main Parties

By IBTimes UK

Pasok and New Democracy parties failed to secure majority in the Greek parliamentary elections. (May 07)

MORE TOPICS: UNEMPLOYMENT, IMF, ELECTIONS

Greece
Judgment Day: Greeks Set Date for 'Debt Crisis' Election

By IBTimes

The snap general election is expected to test Greek resolve for punishing austerity measures, and gives the parties just 24 days to prepare. (Apr 11)

MORE TOPICS: EUROPEAN UNION, GDP, INTERNATIONAL MONETARY FUND

Greece
Greek Retiree's Suicide Spurs Protests As Experts Warn Of Austerity Strains

By IBTimes

"A pharmacist ought to be able to live comfortably on his pension. So for him to reach the point of suicide out of economic hardship means a lot. It shows how the social fabric is unraveling," an activist in Athens said. (Apr 05)

MORE TOPICS: UNEMPLOYMENT, EUROPEAN UNION

BSE Sensex
BSE Sensex Expected to Rise by 26 Percent This Year

By IBTimes IN

The BSE Sensex is likely to rise this year in spite of concerns over the government's finances and political stability. A poll conducted by Reuters indicated that BSE Sensex might gain 26 percent this year, hoping on interest rate cuts to bolster growth. (Mar 30)

MORE TOPICS: INDIA, RBI, INVESTMENT, SETTLEMENT

German Chancellor Merkel looks around during guided walking tour of northern German city of Stralsund
Germany's Merkel Warns Against Greece's Exit From Euro

By IBTimes

She added important lessons had been learned from the Greek experience, allaying fears further bailouts would be needed for other struggling Eurozone countries. (Mar 26)

MORE TOPICS: IMF, GERMANY

Euro coins in a montage
3 Things You Need To Know About Greece's Default

By IBTimes

Developments in the two weeks since the "credit event" confirmed that the world's first test of using credit default swaps as protection involving sovereign debt turned out fairly well. (Mar 21)

MORE TOPICS: COMMERZBANK, PORTUGAL, STORM, EUROPEAN CENTRAL BANK, INTERNATIONAL MONETARY FUND, INVESTMENT

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