Jobless Greeks line up outside an unemployment bureau in Athens Unemployment rate in crisis-struck Greece hit an all-time high of 23.1 percent in May as the country struggles through a fifth year in recession, says the national statistics agency. New data, released by Elstat on Thursday, showed that 1.15 million people were out of work in Greece, compared with 3.82 million, who had jobs. The jobless... 

A majority of people in four European countries believe that the eurozone crisis will worsen after giving Greece the 130-billion-euro financing package. The respondents to the phone survey that was carried out by the French opinion poll institute Ifop from June 18 to 21 were asked if they thought the eurozone economic crisis will worsen or improve after giving Greece the loan. The results of the survey... 

Subway project reveals ancient thousand-year-old road in Greece. Archaeologists discovered a road built from marble by Romans there 2 thousand years ago. Archeologists have found, in the second largest city of Greece, 70 meters of part of an ancient road built by the Romans, which was the main access road into the city for 2000 years. The road was discovered during excavations for the new metro system... 

The Cypriot government has issued a statement confirming that it has officially made an EU bailout bid, citing heavy exposure to debt-stricken Greece. This makes it the fifth state within the currency union to ask for help. The request comes just days before a deadline to recapitalize one of the country’s largest banks. “The purpose of the required assistance is to contain the risks to the Cypriot... 

The pro-bailout New Democracy party has come out on top in Greece’s parliamentary elections, having gained 30 per cent of the votes. With more than 80 per cent of votes counted, the anti-austerity leftist Syriza party is trailing on 26.6 per cent. The results have kept fears of Greece’s imminent exit from the eurozone at bay for the time being. “The Greek people today voted for Greece to remain... 

The Greek extreme right party Golden Dawn has stepped up assaults on immigrants by threatening to remove them and their children from hospitals and kindergartens. The neo-Nazi rhetoric comes as Greece prepares for its crucial elections scheduled for Sunday, June 17 If Chrysi Avgi (Golden Dawn) gets into parliament as polls predict, the party says it will carry out raids on hospitals and kindergartens... 

European Union apparatchiks are preparing to lockdown Europe following Greece’s exit. From the Associated Press today: Olivier Bailly said Tuesday that, legally, limits could be imposed on movement of people and money across national borders within the EU if it’s necessary to protect public order or public security — but not on economic grounds. “Some people are working on scenarios,” he... 

Fitch says the downgrade reflects negative economic and market environment in Spain. Fitch credit ratings agency has downgraded Spain’s rating by three notches citing the country’s banking crisis, mushrooming debt and recession as the main reasons for the downgrade. The international agency announced on Thursday that it has cut Spain’s long-term foreign and local currency to ‘BBB’... 

French Finance Minister Pierre Moscovici pictured on May 21, 2012at a press conference in Berlin, Germany French Finance Minister has warned that Greece’s exit from the eurozone will be on the agenda if Greek authorities do not respect the bailout deal after parliamentary elections in mid-June. “The question would be raised without a doubt…. if the Greeks themselves do not respect their... 

A euro coin with the Spanish national flag in the background. The European Commission says Spain is on top of the list of the eurozone 12 critical economies as new reports show investors flee Spain amid the deepening financial crisis. Affected by Greece’s economic woes, the Commission on Wednesday listed Spain and Cyprus as two European states in “very serious” trouble. “Spain faces... 

A homeless man prepares to sleep on the floor of a sports center in Athens on January 30, 2012. A new report says around 13,000 Greek people are homeless in the capital Athens and the number of the poor in the recession-hit country is on the rise. The report by the charity organization, Praksis, which was published on Thursday says in the Greek capital of over four million, around 11,500 Greeks are... 

Where the eurozone crisis heads will depend not on whether Greece leaves the union, but on how the situation in the region affects debt-troubled Italy and Spain, Aleksey Bachurin, head of Russian Cash Equity Trading at Renaissance Capital, told RT. ­“The important thing is not Greece itself: it’s relatively small and the investments in Greece are already written down by most banks. But the potential... 

Countries of the “Russian world” are capable of changing the globe within ten years, believes top cleric of the Russian Orthodox Church Vsevolod Chaplin. ­By the “Russian world” he means states with a historically strong tradition of Orthodox Christianity which, apart from Russia, include Ukraine, Belarus, Greece, Romania and several others. “Our Orthodox civilization may not be that large,... 

The Greek-owned oil tanker MT SMYRNI was seized on May 10, 2012, in the Arabian Sea while carrying 135,000 metric tons of crude. Somali pirates have hijacked a Greek-owned oil tanker with 17 crew members onboard off the coast of Oman in the Arabian Sea, Press TV reports. MT SMYRNI, carrying a cargo of 135,000 metric tons of crude oil, was en route Turkey on Thursday when pirate gangs stormed the vessel,... 

Greece’s leader of the leftist SYRIZA coalition, Alexis Tsipras Greece’s left-wing coalition leader has ruled out austerity measures, receiving a mandate to form a new government as elections produced a stalemate in parliament. Greece’s leader of the leftist SYRIZA coalition, Alexis Tsipras, has ruled out budget-cutting austerity measures, opting to meet President Karolos Papaoulias in talks...