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Greeks Sink Deeper in Poverty

Greeks Sink Deeper in Poverty

Athens- Greek pensioner Dimitra says she never imagined a life reduced to food handouts: some rice, two bags of pasta, a packet of chickpeas, some dates and a tin of milk for the month. At 73, Dimitra – who herself once helped the hard-up as a Red Cross food...
Cyprus Reopens Banks Under Tight Restrictions

Cyprus Reopens Banks Under Tight Restrictions

Nicosia, Reuters—Cypriots queued calmly at banks as they reopened on Thursday under tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to avert bankruptcy. Banks were shut almost...
Arab Economists Play Down Impact of Cypriot Crisis

Arab Economists Play Down Impact of Cypriot Crisis

London, Asharq Al-Awsat—Despite the recent bailout agreement between the Cypriot government and the EU and International Monetary Fund (IMF), the scale of the financial crisis facing the small island state means that it is nowhere near over yet, and the aftershocks...
Cyprus Bailout Deal Prompts Investors Relief

Cyprus Bailout Deal Prompts Investors Relief

London, AP — Investors breathed a sigh of relief Monday after Cyprus clinched a bailout deal with international creditors that will prevent it becoming the first country to ditch the euro — a prospect that could have worsened the crisis afflicting Europe’s...