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Greeks march to commemorate 1973 student uprising

Tens of thousands of Greeks gathered to commemorate the 39th anniversary of uprising.

Greek labor reform vote could have worldwide impact

Two weeks ago, Greek Prime Minister Antonis Samaras declared that Greece would run out of cash on Nov. 16, which is why it's so critical that a decision on sending further aid to Greece is made at the upcoming meeting of euro zone finance ministers on Nov. 12.
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German Chancellor Angela Merkel, for many in Greece nothing she says or does will ever be right. (JOHN MACDOUGALL/Getty Images)

Nothing German Chancellor Angela Merkel says or does will ever satisfy some Greek politicians and their constituents. In a BBC interview today Merkel says, "We have taken the decision to be in a currency union. This is not only a monetary decision, it is a political one. It would be catastrophic if we were to say to one of those who have decided to be with us: 'We no longer want you'."

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Greek debt crisis: big hurdle crossed

Most private bond holders accept their haircuts opening way for EU bail-out
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Does today's deal with its private creditors mean that Greece's economy can rise from the ruins? (Oli Scarff/AFP/Getty Images)

The bond-holders represented the last obstacle to the second bail-out of Greece's debt-shattered economy. They had to agree by 8 p.m. Athens time.  80 percent have, enough for the Greek bail-out to go forward.

From the moment the crisis went from smoldering to explosive, last summer this deal has been haggled over, delayed, brought the single currency to the brink of extinction and threatened to take the world economy through a worm hole into a new dimension - a very dark one.

A three-way deal between Greece, its EU partners and the private bond-holders often seemed as if it might be impossible to reach. This last piece of the puzzle was open to question even after Greece and the EU had reached agreement on their part.

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Look at this bag of insults. (SAKIS MITROLIDIS/AFP/Getty Images)

For the last three weeks I have been working on a series of articles that will appear on GlobalPost shorty about the alarming rise of xenophobic ultranationalism in eastern Europe. Nazi worship is not just for the fringe out there.

While I was on assignment the deal for Greece's second bail-out was agreed but I knew there would be plenty left in the story to blog about when I came back to it.

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Greek bailout has strained Greek-German relations

Rhetoric in Greek and German media has gotten heated with obscene gestures and controversial symbols.

Greek debt crisis: insult upon insult

Greek and German media folk trade unpleasantries

My thanks to Faisal Islam (@faisalislam) of Britain's Channel 4 news for pointing me toward this story in the Athens News.

Yiorgos Trangas, a radio host for Real FM, called German Chancellor Angela Merkel a "dirty Berlin slut" live on the air recently. Now, the station has been fined 25,000 euros ($33,260) by the National Council of Radio and Television for the outburst. He was judged to have "abused the Greek language" and used an obscene word to describe Merkel.

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Bailout talks delayed as Greece fails to meet conditions

Talks on further Greek bailout money have been delayed by the Eurogroup of EU finance ministers as Greece fails to meet budget conditions.
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Athens' firemen continue to douse down flames following last night's riots in protest against further massive austerity cuts (ANGELOS TZORTZINIS/AFP/Getty Images)

The Greek parliament voted to bite down harder on the austerity bullet and passed a further 3.3 billion euros ($4.4 billion) cuts to government spending. The headline measures were a 22 percent reduction in the minimum wage and another 15,000 government employees being laid off,

On top of that euro zone finance ministers are saying the Greek government must find another 325 million euros in savings if it is to receive an EU funded 130 billion euro bail-out ($172 billion).

No wonder there were violent demonstrations last night.

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Greek debt crisis: have Greek leaders or haven't Greek leaders agreed a deal?

Will the rest of the EU or won't the rest of the EU accept it?
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GREECE, ATHENS-FEBRUARY 10:Demonstators during protests against planned reforms by Greece's coalition government in Athens, February 10, 2012 during a 48 hours general strike.(Photo by Milos Bicanski / Getty Images) (Milos Bicanski/AFP/Getty Images)

In Greek mythology Hercules was set 12 impossible labors by the Goddess Hera, journalists have been set one impossible task by the Greek government: trying to summarize what is happening in the Greek debt crisis.

Late last night, following a marathon meeting (sorry, those Greek allusions can't be avoided) Prime Minister Lucas Papademos and the leaders of the three political parties in the country's coalition government agreed to a package of further austerity measures meant to insure Greece gets another bail-out from the EU. The bail-out is worth 130 billion euros ($ 171.4 billion).

The country's Finance Minister Evangelos Venizelos set off for Brussels to meet with his euro zone counterparts to present the plan and presumably get their approval.

He didn't get far on his journey before the plan came under attack both inside Greece and outside.

One of the political leaders in the room when the deal was agreed, Georgios Karatzaferis of LAOS, said he would not vote for it.

The Greek newspaper eKathimerini quotes the LAOS leader saying, "The creditors are asking for 40 years of submission. Greece will not give itself up." Karatzaferis added, "Greece can survive outside the EU but cannot survive under a German boot."

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