European markets plummet on fears of a new banking crisis

By Christoph Dreier, 5 October 2011

European stock markets fell sharply Tuesday and the euro hit new lows amid reports of an impending default of the Greek economy and fears of a rapidly developing recession and renewed banking crisis on both sides of the Atlantic.

Greece to miss deficit target and impose more cuts on workers

By Christoph Dreier, 3 October 2011

The social-democratic government of Greece bowed to pressure from the IMF and European authorities and cut the jobs of 30,000 civil servants.

Greek parliament approves “property tax” as PASOK pledges more pain

By Robert Stevens, 29 September 2011

The Greek parliament’s approval of a new property tax marks an escalation in the austerity measures that are already destroying the jobs, living standards and futures of millions of working people.

Strikes and protests mount against austerity in Greece

By Christoph Dreier, 27 September 2011

Indifferent to the suffering of the Greek people and intent on pursuing a class-war policy across Europe, the “troika” experts agree that "on the ground, things will get a lot worse."

No new proposals from IMF on European debt crisis

By Barry Grey, 26 September 2011

The annual meetings of the International Monetary Fund (IMF) and World Bank in Washington DC concluded Sunday with no agreement on specific measures to avert a default by Greece and the threat of a new financial meltdown and global depression.

European powers discuss possible bankruptcy of Greece

By Christoph Dreier, 24 September 2011

Neither the austerity measures nor the latest tranche of the “rescue packet” will resolve the crisis gripping Greece, which faces looming bankruptcy.

Greek workers strike, protest against brutal austerity measures

By David Walsh, 23 September 2011

Tens of thousands of Greek public transport workers, teachers, civil servants and air traffic controllers walked off the job Thursday to protest the latest round of austerity measures announced by the PASOK government.

The carve-up of Greece

By Barry Grey, 20 September 2011

The European Union, European Central Bank and International Monetary Fund, acting in behalf of the international banks, are demanding a new round of austerity measures against the Greek working class.

European finance ministers delay loan, press Greece for deeper cuts

By Barry Grey, 17 September 2011

European Union finance ministers delayed a decision on disbursing an 8 billion euro loan needed to avert a default by Greece next month and rejected proposals by US Treasury Secretary Timothy Geithner to expand the EU's bailout fund.

Greek workers plunged into social misery

By Robert Stevens, 15 September 2011

With Greece verging on default, the PASOK government is escalating its austerity programme against an already pauperised population.

European markets, banks staggered as Greece slides toward default

By Barry Grey, 13 September 2011

The crisis of the common European currency and the region’s banking system intensified Monday amid mounting fears that Greece could soon default.

Riot police battle austerity protesters in Greece

By Patrick Martin, 12 September 2011

The fighting took place as the Greek prime minister gave his annual address on economic policy.

Austerity measures spell social catastrophe in Greece

By Katerina Selin, 13 August 2011

A look at the social situation in Greece reveals the thoroughly inhuman character of the austerity measures demanded by the banks, EU and IMF.

SEP holds meeting in Berlin

Greece and the euro crisis

By a correspondent, 20 July 2011

At a meeting in Berlin last Saturday the chairman of the German Socialist Equality Party described the threat of the default by Greece as an expression of the global crisis of capitalism.

SYRIZA leader offers his services to the European political elite

By Stefan Steinberg, 9 July 2011

At a meeting in Berlin, the chairman of SYRIZA (the Coalition of the Radical Left) made an urgent appeal to the European political and financial elite to restructure their loans to Greece to avoid social unrest.

The political lessons of Greece

By Stefan Steinberg, 6 July 2011

The new package of austerity measures passed last week in Greece will have devastating consequences for the Greek and international working class.

Banks secure own interests at Greece’s expense

By Stefan Steinberg, 2 July 2011

The French plan to roll over Greek debt was timed to send the right signals to the financial markets while influencing the debate in the Greek parliament on a new round of austerity measures.

Greek austerity package: Social counterrevolution in Europe

By Peter Schwarz, 30 June 2011

The vote in the Greek Parliament approving another package of austerity measures marks a political watershed for the whole of Europe.

Greek parliament discusses new austerity in face of mass opposition

By Stefan Steinberg, 29 June 2011

The Greek government, in close cooperation with European politicians, bankers and the International Monetary Fund, is working frantically this week to push through parliament massive austerity measures overwhelmingly opposed by the Greek working class.

Germany contemplates “nuclear option” for Greece

By Stefan Steinberg, 29 June 2011

Leading German industrialists and economists are arguing that Greece should either withdraw or be thrown out of the eurozone in order to avoid a breakup of the European Union.

Greece: The Syntagma Square movement—no real democracy

By Peter Schwarz, 24 June 2011

The call for “no politics” is itself a political program, and one of the vilest sort. It is exclusively directed against a genuine, leftist perspective dedicated to the political independence of the working class.

Papandreou wins confidence vote in Greece

By our correspondents in Athens, 23 June 2011

In the early hours of Wednesday morning the newly reshuffled cabinet of Greek Prime Minister George Papandreou won a no-confidence vote by a slim majority.

Greece: The dictatorship of finance capital

By Nick Beams, 22 June 2011

The diktat handed down by the International Monetary Fund demanding the imposition of even harsher austerity measure before the release of the €12 billion final tranche of the current Greek bailout package marks a sharp turn in the unfolding European financial crisis.

Greece faces new austerity package

By our correspondents in Athens, 21 June 2011

The hectic political manoeuvres in Brussels and Athens in recent days aim to impose a new round of bank bailouts and social cuts on the devastated Greek population.

Global markets plummet as Greek political crisis deepens

By Stefan Steinberg, 17 June 2011

Commentators agree that any compromise between Berlin and Paris would only provide a temporary breathing space to Greece and postpone what is increasingly regarded as the inevitable outcome—a sovereign default resulting in a new European and international finance crisis.

Greek prime minister proposes government of national unity as protests spread

By Stefan Steinberg, 16 June 2011

Yesterday the Greek Prime Minister George Papandreou proposed a pact with the country’s conservative opposition party, New Democracy, to form a national unity government to continue making unpopular social cuts.

Which way forward for the working class in Greece?

By Stefan Steinberg, 15 June 2011

A one-day strike called by Greece’s trade unions against the latest social cuts demanded by the PASOK government poses pressing questions of political perspective to all class-conscious workers.

Greek government announces new cuts amid mass opposition

By Stefan Steinberg and Alex Lantier, 13 June 2011

The Greek government has announced major new spending cuts, amid rising occupations of city squares and strikes against social cuts.

European Union officials demand brutal austerity in Greece

By Stefan Steinberg, 8 June 2011

In their totality the cutbacks demanded by the EU at the behest of the banks amount to a social counterrevolution.

European Union, IMF move toward second bailout of Greece

By Andre Damon, 4 June 2011

International financial officials signaled Friday that more bailout money would be forthcoming for Greece next month, after the Greek government pledged to implement billions of euros in cuts and privatizations.

Greek government to announce billions more in austerity measures

By Andre Damon, 3 June 2011

The Greek Government is preparing to announce another €6.4 billion in austerity measures today after Moody's, the debt rating agency, cut the country's credit rating three notches.

The assault on the Greek working class

By Peter Schwarz, 2 June 2011

In Greece—and in a similar manner in Portugal, Ireland and Spain—the ruling class is carrying out a counterrevolutionary offensive against the working class.

Banks demand savage austerity measures in Greece

By Patrick O’Connor, 31 May 2011

The European financial elite is dispensing all pretence of basic democratic norms as it demands a new round of brutal austerity and privatisations.

Protesters, police clash in Athens demonstration

By Stefan Steinberg, 13 May 2011

Two protesters were seriously injured by police, dozens more injured and over twenty arrested as police moved in violently to quell protests in the Greek capital on Wednesday.

Greek crisis triggers fierce conflicts in Europe

By Peter Schwarz, 11 May 2011

Rumours about the possible withdrawal of Greece from the euro, and a secret meeting of European finance ministers, have triggered fierce conflicts within the European Union.

Europe one year after the bailout of Greece

By Stefan Steinberg, 10 May 2011

One year after the bailout of Greece, Europe stands on the brink of disintegration, with attacks on the working class intensifying and conflicts mounting between the continent's leading powers.

Plan to restructure Greek debt reveals deep rifts in Europe

By Stefan Steinberg, 21 April 2011

After months of speculation and denials by the Greek prime minister and leading international finance chiefs, the Athens daily Eleftherotypia reported Monday that the Greek government has issued a request to the IMF and the EU to restructure Greece’s public debt.

Greek workers mount eighth general strike

By Robert Stevens, 24 February 2011

Workers in Greece took part in a general strike Wednesday to protest the austerity measures being imposed by the social democratic government of Prime Minister George Papandreou.

Greece to build fortified border fence to deter refugees

By Martin Kreickenbaum, 8 January 2011

The border fence not only symbolizes “Fortress Europe”, but is a model for the attacks of the European governments on the democratic rights of all the people.

Greek parliament approves further austerity measures

By Robert Stevens, 24 December 2010

The Greek parliament passed its 2011 budget early Thursday morning, at the end of the final session of the five-day parliamentary debate.

Police attack protesters during Greek general strike

By Ann Talbot, 16 December 2010

Police brutally attacked demonstrators, who fought back, as an estimated 100,000 people took to the streets in a general strike that brought Greece's major cities to a standstill.

Bloody clashes with police and anti-Berlusconi demonstrators in Rome

By Stefan Steinberg, 16 December 2010

The demonstrations in Rome this week represent the most angry displays of opposition to the Berlusconi government and the entire political establishment in Italy for decades.

General strike hits further austerity demands in Greece

By Robert Stevens, 15 December 2010

The Greek government has introduced a further round of austerity measures which will result in massive job losses.

Council of Europe accuses Greece of mistreating refugees

By Elisabeth Zimmermann, 26 November 2010

A new report raises serious allegations against Greece’s police and border authorities, documenting numerous cases of abuse and in some cases raises the allegation of torture.

Social democrats win Greek regional elections amid mass abstention

By Robert Stevens, 17 November 2010

The Panhellenic Socialist Movement (PASOK) government of Prime Minister George Papandreou won the Greek regional elections in the second and final round of voting on Sunday.

Abstention in Greek elections shows anger at PASOK austerity

By Robert Stevens, 9 November 2010

Sunday’s regional elections in Greece revealed the hostility of millions of people to the austerity programme being imposed by the Pan-Hellenic Socialist Movement (PASOK) government of Prime Minister George Papandreou.

Greek union calls off rail strike

By Robert Stevens, 2 November 2010

On October 28, the Panhellenic Federation of Railway Workers (POS) called off the latest strike by Greek railway workers.

Greek culture ministry workers end strike after police attack

By Robert Stevens, 16 October 2010

Culture ministry workers employed at the Acropolis in Athens ended a three-day strike Friday, following brutal attacks by riot police.

Two officers convicted for killing 15-year-old Greek student

By John Vassilopoulos, 15 October 2010

Epaminondas Korkoneas was found guilty of murder and his partner guilty of accessory to murder, for the killing of 15 year-old Greek student Alexis Grigoropoulos on December 6, 2008.

Split over Greek regional election highlights SYRIZA’s rightward march

By John Vassilopoulos and Alex Lantier, 21 September 2010

Conflicts are erupting within the Greek petty-bourgeois “left” coalition SYRIZA over the nomination of a high-ranking PASOK official as its candidate in the Attica regional election.

Greek debt crisis fuels fears of European sovereign default

By Robert Stevens, 14 September 2010

Figures released this month point to the threat of a second continent-wide recession. Contrary to the claim that the worst of the economic crisis was over as a result of the bailout, leading economists have warned that Greece will be unable to pay back its mountain of debt.

Anti-government protests hit Greek austerity measures

By Robert Stevens, 13 September 2010

Anti-government protests in the northern city of Thessaloniki in Greece last weekend were met by a massive police response.

Greek unions posture as opponents of privatisation

By John Vassilopoulos, 25 August 2010

The union leaders have portrayed themselves as emulating the last stand of the 300 Spartans at Thermopylae, while actually collaborating with the government in privatising companies and arranging wage cuts for the workers.

European Commission urges Greek government to press ahead with austerity

By Stefan Steinberg, 24 August 2010

Despite widespread social opposition, the European Commission has urged the Greek government to press ahead with its extensive program of spending and income cuts.

Greek ex-lefts denounce truck drivers strike

By Robert Stevens and Alex Lantier, 16 August 2010

Petty-bourgeois ex-left parties such as Antarsya and SYRIZA and the Greek Communist Party were bitterly hostile to the Greek truckers’ six-day nationwide strike against the social-democratic government’s social cuts.

Army operation against Greek truck drivers: A warning to European workers

By Peter Schwarz, 4 August 2010

The entire European elite has responded with satisfaction to Greek Prime Minister Papandreou’s decision to break the truck drivers strike by using coercive measures and mobilizing the army.

Greece: Union betrayal of truck driver’s strike sets stage for further attacks

By Robert Stevens, 3 August 2010

The Greek trade unions’ betrayal of the six-day nationwide strike by 33,000 truck drivers has set the stage for the PASOK government to step up its offensive against the entire working class.

Greek military mobilised to break truck drivers strike

By Robert Stevens, 2 August 2010

The decision by the social democratic PASOK government to use the military to break a nationwide strike by truck drivers is a stark indication of the polarisation of class relations in Greece and throughout Europe.

Greek truck drivers defy government

By Stefan Steinberg, 31 July 2010

Greek truck drivers decided on Friday to continue their five-day national strike, despite a series of punitive measures by the social democratic government of Prime Minister George Papandreou aiming to break their action.

Germany and France use loans to Greece to push for major arms deals

By Johannes Stern, 15 July 2010

Berlin and Paris have used the bailout of Greece to force Athens to agree to massive arms procurement deals.

Greece: What is behind the right wing-split from SYRIZA?

By Chris Marsden and Robert Stevens, 12 July 2010

At the June congress of SYRIZA (Coalition of the Radical Left), the “Renewal Wing” of the party walked out, announcing their intention to form a new movement more openly defending the social-democratic government currently imposing massive cuts on the working class.

Greece: Sixth general strike as PASOK passes austerity package

By Robert Stevens, 9 July 2010

Tens of thousands of workers protested Thursday during the sixth general strike to be held this year in Greece.

Pharmaceuticals impose embargo on Greek health service

By John Vassilopoulos, 3 July 2010

From the end of May until the middle of June, major pharmaceutical corporations held Greek public hospitals hostage over outstanding debts and price increases on medicines.

Greek workers in fifth 24-hour strike against austerity measures

By Robert Stevens, 30 June 2010

In the latest 24-hour strike, tens of thousands of workers protested in cities and towns across Greece on Tuesday against the austerity measures of George Papandreou’s PASOK government.

Greece trade unions intensify collaboration with austerity measures

By Robert Stevens, 21 June 2010

As the austerity measures of Greece’s PASOK government produce deepening widespread poverty, the trade union federations are working to ensure that all opposition is strangled.

Greece: Antarsya offers no alternative to PASOK and the official “left”

By Robert Stevens, 7 June 2010

Since the turn of the year, millions of Greek workers and young people have been involved in strikes and protests against the austerity measures being implemented by the PASOK government, on behalf of international finance capital.

An interview with OKDE-Spartakos of Greece’s Antarsya coalition

By Alex Lantier, 7 June 2010

While criticising other parties of the Greek petty-bourgeois “left,” Iannis Felekis of OKDE-Spartakos said that there was no alternative to Papandreou’s social cuts.

Greek debt crisis exacerbates problems in Eastern Europe and Balkans

By Markus Salzmann, 26 May 2010

The debt crisis in Greece is placing Eastern European states under increasing pressure.

Greece: Fourth 24-hour strike against austerity measures

By Robert Stevens, 21 May 2010

Tens of thousands of workers protested in towns and cities throughout Greece on May 20 during the latest 24-hour general strike in response to the brutal austerity measures being imposed by the PASOK government of Prime Minister George Papandreou.

How the Greek Communist Party covers for Papandreou’s cuts

By Alex Lantier, 21 May 2010

The Greek Communist Party hides its collaboration with the political establishment and its agreement with the cuts, behind Greek nationalism and an unreconstructed defense of Stalinism.

Economic crisis makes “very difficult” situation for Greek families worse

By Robert Stevens and Alex Lantier, 18 May 2010

WSWS reporters spoke to travelers at the Athens train station, who explained the impossible financial situations they face due to social cuts and the Greek debt crisis.

Greek debt crisis hits small businesses in Athens

By Alex Lantier, 18 May 2010

WSWS reporters talked with residents of Peristeri, a suburb of Athens with many small businesses, about how the Greek debt crisis is affecting them and the city’s industry.

SYRIZA rally: the reactionary politics of the middle class “left” in Greece

By Alex Lantier and John Vassilopoulos in Athens, 17 May 2010

WSWS reporters in Athens attended the May 14 rally of SYRIZA (the Coalition of the Radical Left), called to discuss the massive social cuts being carried out by Prime Minister George Papandreou.

Greek workers speak out against Papandreou’s cuts

By Alex Lantier, 15 May 2010

WSWS reporters interviewed workers in Perama, a working-class port city in the Athens suburbs, on the impact and political significance of the social cuts carried out by Prime Minister George Papandreou.

Euro aid package inaugurates offensive against working class

By Peter Schwarz, 13 May 2010

Last weekend, European leaders and finance ministers agreed to a rescue package for the euro which inaugurates the most comprehensive offensive against the working class since the end of World War II.

Greek government announces major pension cuts

By Robert Stevens and Alex Lantier, 13 May 2010

Sharp cuts in pensions are the latest in a series of austerity measures carried out by Prime Minister George Papendreou following the outbreak of the Greek debt crisis.

Greek workers protest pension cuts

By a WSWS reporting team in Athens, 13 May 2010

WSWS reporters attended a demonstration in Athens called against the massive pension cuts recently announced by the social-democratic government of Prime Minister Georgios Papandreou.

Stock markets surge on €750 billion European bailout

By Alex Lantier, 11 May 2010

Financial stocks surged as European authorities announced a new bailout, transferring massive public funds to the banks to stem fears of a collapse of the financial system if Greece or other European countries defaulted on their debts.

The international significance of the Greek general strike

By Alex Lantier, 10 May 2010

Mass opposition to Papandreou’s austerity policies has panicked financial markets and foreshadows international struggles against efforts to make workers pay for the economic crisis.

Fears over Greek crisis continue to drive down global markets

By Bill Van Auken, 8 May 2010

Despite the Greek parliament’s approval of drastic austerity measures, fears that the country’s economic crisis will deepen and spread to other nations continued to drive down international markets Friday.

Greek Parliament approves deep social cuts in face of mass opposition

Stock markets fall sharply on fears of unrest

By Joe Kishore and Alex Lantier, 7 May 2010

The Greek Parliament approved €30 billion in social cuts a day after a general strike to oppose the measures. Global stock markets fell sharply on investor fears that global social unrest will disrupt plans to make the working class pay for the economic crisis.

Greek workers strike against austerity measures

By Stefan Steinberg, 6 May 2010

Greek workers staged a general strike on Wednesday to protest massive austerity measures. Prime Minister George Papandreou seized on the death of three bank workers in a fire to press forward the attack on the working class.

On eve of general strike

European, world markets plunge on Greek debt fears

By Joe Kishore, 5 May 2010

The sovereign debt crisis in Greece is sending new tremors through world markets. A general strike has been called for Wednesday, as the trade unions in Greece struggle to contain mass opposition to austerity measures.

Europe-IMF bailout, social cuts announced in Greece

By Alex Lantier, 3 May 2010

Despite overwhelming popular opposition, the Greek government proposed a new round of social cuts yesterday in order to obtain a €110 billion joint Europe-IMF bailout and repay its creditors among major international banks.

Greece, the euro crisis and the issues confronting the European working class

By Ulrich Rippert, 1 May 2010

The decision by the US rating agency Standard & Poor’s to downgrade Greek debt to junk status and its subsequent downgrading of Portugal and Spain augurs a new stage in the European and international financial crisis.

Greek government agrees to deeper cuts in return for expanded bailout

By Barry Grey, 30 April 2010

Greek Prime Minister George Papandreou met with trade union and business leaders Thursday to outline new austerity measures designed to more rapidly reduce the country’s budget deficit, in accordance with conditions for an expanded bailout laid down by the IMF, the European Central Bank and the European Commission.

Expanded Greek bailout discussed as credit crisis engulfs Europe

By Alex Lantier, 29 April 2010

German and IMF officials discussed a €135 billion bailout for Greece yesterday, as Spain’s credit rating was downgraded and fears grew that the sovereign debt crisis would spread throughout Europe.

World markets plunge as Greek credit downgraded to “junk” status

By Patrick O’Connor, 28 April 2010

Stock markets in Europe, the US, and other regions closed sharply lower yesterday after ratings agency Standard & Poor’s downgraded its sovereign credit rating of Greece to “junk” status and also lowered Portugal’s rating by two notches.

German chancellor steps up pressure on Greece

By Peter Schwarz, 28 April 2010

The German government is linking the provision of bailout funds for Greece to entirely new conditions, thereby delaying financial aid.

European officials demand new cuts following Greek bailout request

By Alex Lantier, 26 April 2010

European and IMF officials indicated they will demand further social cuts in Greece following Prime Minister Giorgios Papandreou’s request for a bailout.

The Greek crisis and the fight for the United Socialist States of Europe

By Alex Lantier, 24 April 2010

The de facto support by the trade unions and pseudo-left groups for the Papandreou government’s austerity policies underscores the need for a new political perspective and new leadership in the working class.

Greek public sector workers strike to oppose austerity measures

By Stefan Steinberg, 23 April 2010

A strike by tens of thousands of civil servants in opposition to austerity measures comes as the Greek government is in discussions with IMF and European officials on further attacks on workers.

Greek strikes, debt crisis intensify fears of economic collapse

By Alex Lantier, 21 April 2010

With financial markets pressuring Athens and Greek workers preparing for an April 22 strike, commentators are discussing the possibility of state bankruptcy, huge social cuts, and the end of the common European currency.

No agreement at Madrid summit on measures for Greek crisis

By Alex Lantier, 19 April 2010

The Ecofin summit of Eurozone finance ministers failed to reach agreement on international financial regulations and the Greek debt crisis.

Emergency bailout plan for Greece: A new stage in world economic crisis

By Stefan Steinberg, 12 April 2010

The European emergency plan for Greece agreed at the weekend follows the unravelling of the deal agreed by EU heads of state just two weeks ago.

Greece moves to borrow from Wall Street

By Alex Lantier, 8 April 2010

Amid growing uncertainty over Greece’s financial position and fears that German opposition will undermine any EU-IMF bailout, Greece is moving to raise money in the United States.

Greek trade unions line up behind government austerity measures

By Robert Stevens, 31 March 2010

The General Confederation of Greek Workers (GSEE) and the public-sector Civil Servants’ Confederation (ADEDY) are working to stifle opposition to the austerity package being imposed by the Pan-Hellenic Socialist Movement (PASOK) government.

European summit proposes bailout and austerity plan for Greece

By Alex Lantier, 27 March 2010

A two-day European Union summit in Brussels concluded yesterday, announcing plans for an as-needed bailout package for Greece and tougher sanctions against eurozone countries whose deficits exceed European guidelines.

On eve of EU summit

Europe split over Greek crisis

By Stefan Steinberg, 25 March 2010

European diplomats are working feverishly to reach some sort of compromise on the Greek debt crisis and prevent an economic and political debacle at the summit of EU heads of government meeting in Brussels Thursday and Friday.

European Union wracked by divisions over Greek crisis

By Stefan Steinberg, 23 March 2010

The Greek debt crisis has exposed deep fault lines within the European Union, above all within the core group of 16 countries which constitute the eurozone.