Search results
Results from the WOW.Com Content Network
On 23 April 2010, after realising the second austerity package failed to improve the country's economic position, the government requested that the EU/IMF bailout package be activated. [6] Greece needed money before 19 May, or it would face a debt rollover of $11.3bn. [7] [8] [9] The IMF had said it was "prepared to move expeditiously on this ...
In return, the thirteen administrative regions of Greece, which had already been created in 1987, but in the absence of a working budget remained unable to fulfill even their limited responsibilities, [4] now assumed the prefectures' competences in regard to tax collection, European structural funding and treasury.
Greece faced a sovereign debt crisis in the aftermath of the 2007–2008 financial crisis.Widely known in the country as The Crisis (Greek: Η Κρίση, romanized: I Krísi), it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a humanitarian crisis.
Greek Prime Minister George Papandreou said his nation won't deepen austerity measures beyond their current levels. The government has already made sharp cuts to national spending, which has ...
According to an IMF official, austerity measures have helped Greece bring down its primary deficit before interest payments, from €24.7bn (10.6% of GDP) in 2009 to just €5.2bn (2.4% of GDP) in 2011, [67] [68] but as a side-effect they also contributed to a worsening of the Greek recession, which began in October 2008 and only became worse ...
The second Tsipras government was marked by an intense austerity policy in the context of the third bailout to Greece. Greece officially exited from the bailout programs in August 2018 (three years after the referendum) and the Tsipras government announced some social cohesion measures such as increases in pensions and aid packages for low ...
Sparta and its allies, except for Corinth, were almost exclusively land-based powers, able to summon large land armies that were very nearly unbeatable.In the face of a combined campaign on land from Sparta and its allies beginning in 431 BC, the Athenians, under the direction of Pericles, pursued a policy of retreat within the city walls of Athens, relying on Athenian maritime supremacy for ...
100,000 people protest against the austerity measures in front of parliament building in Athens (29 May 2011). The First Economic Adjustment Programme for Greece, initially called the Economic Adjustment Programme for Greece and usually referred to as the first bailout package or the first memorandum, is a memorandum of understanding on financial assistance to the Hellenic Republic in order to ...