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Greek unemployment up, youth hardest hit – Jobless rate reflects pain of recession

Greek unemployment up, youth hardest hit – Jobless rate reflects pain of recession

Posted by on 07/06/2013
Filed under Business

Greek unemployment up, youth hardest hit – Jobless rate reflects pain of recession

ATHENS: Greece’s jobless rate rose again in March, reflecting the pain of a crippling recession after years of austerity under the country’s international bailout. Record joblessness is a major angst for Greece’s coalition government as it scrambles to hit fiscal targets and show there is light at the end of the tunnel after years of […]

IMF admits ‘failures’ over Greece

IMF admits ‘failures’ over Greece

Posted by on 07/06/2013
Filed under Business

IMF admits ‘failures’ over Greece

WASHINGTON: The International Monetary Fund yesterday admitted to significant failures in the first Greek rescue that forced a second, larger bailout and left the country in a deep recession. However, the global lender placed much of the blame on its Greek and European partners, saying they were unprepared for the crisis and the harsh choices […]

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