ECB Plans to Set Yield Targets for Bond Purchases

Interest rates on Spanish sovereign bonds have been rising to dangerous levels in recent weeks. Now, SPIEGEL has learned that the European Central Bank plans to use a new instrument to stop the trend: The bank is considering setting yield targets on the bonds of euro-zone countries. Should interest rates exceed those levels, the ECB … Continue reading

The women Greece blames for its HIV crisis

Prostitutes have been rounded up and jailed as new cases soar by CHARLOTTE MCDONALD-GIBSON The women glare into the camera, their humiliated, pale faces smeared with make-up and tears. Glazed eyes stare out under lurid headlines warning of “the nightmare of Aids” with “infected prostitutes” posing a “death trap for hundreds of people”.

Euro’s Medicine May Be Making Greece’s Symptoms Worse

By RACHEL DONADIO and SUZANNE DALEY ATHENS — Only a month after Greece installed a new government, the country is facing renewed peril. Its official lenders are signaling a growing reluctance to keep paying the bills of the nearly bankrupt nation, even as the government is seeking more leniency on the terms of its multibillion-euro bailout.

Greece Expels Voula Papachristou From Olympics Over Racist Tweets

By DEMETRIS NELLAS ATHENS, Greece — Triple jumper Voula Papachristou was kicked off Greece’s Olympic team Wednesday for her comments on Twitter mocking African immigrants and expressing support for a far-right political party. The Hellenic Olympic Committee said Papachristou is “placed outside the Olympic team for statements contrary to the values and ideas of the … Continue reading

‘Reckless’ And ‘Unprofessional’: German Minister Criticized for Greece Comments

German Economy Minister Philipp Rösler has been accused of being reckless and unprofessional after saying he is skeptical that Greece’s reform efforts will succeed and that a Greek exit from the euro had “lost its horrors.” But some senior members in Germany’s ruling coalition agree with him. German Economics Minister Philipp Rösler, the leader of … Continue reading

Workers at Mining Industry factory in Northern Greece vote for factory self-management

Statement from workers at a mining industry factory in Greece announcing their decision to take over their factory under workers’ self-management. “You can’t? We can!” Workers at Mining Industry factory in Northern Greece vote for and prepare for self-management of their factory – victory to the workers! Concerning the struggle at VIOMIHANIKI METALLEYTIKI (Mining Industry) … Continue reading

Crisis Batters Global Faith in Capitalism

The global economic crisis has hit millions where it hurts the most: in the pocketbook. But a study released Thursday by the US-based Pew Research Center also finds that the crisis has damaged their faith in political leaders and the free market economy in general. People around the world are worried about the state of … Continue reading

Special Report: Clandestine loans were used to fortify Greek bank

By Stephen Grey and Nikolas Leontopoulos (Reuters) – The chairman of one of Greece’s largest banks and his family took out loans totaling more than 100 million euros to finance an undisclosed stake in the bank, according to audit documents seen by Reuters. Offshore companies owned by Michael Sallas and his two children paid for shares in … Continue reading

Most Greeks think new government cannot solve woes: poll

(Reuters) – Most Greeks believe their new government is unable to resolve their near-bankrupt country’s problems, a poll found on Thursday. Greece depends on a second 130 billion-euro bailout from the International Monetary Fund and European Union, who demand spending cuts that have helped push it into its worst recession since World War Two and put … Continue reading

Spain police, miners clash in Madrid protest

Associated Press. Spanish miners and sympathizers incensed with the nation’s seemingly endless austerity cutbacks clashed with riot police on one of Madrid’s most famed avenues Wednesday, and six demonstrators were hospitalized after police fired rubber bullets. Police made seven arrests, and two officers were injured. The miners’ march into the capital was the culmination for some … Continue reading