Europe

1:46pm

Fri March 9, 2012
Europe

A Health Care Tragedy Plays Out In A Greek Port

Near the port of Piraeus and about 10 miles west of Athens, Perama developed after the Greek civil war of the 1940s, growing prosperous in the 1980s thanks to the ship-repair industry.

But now, the once-bustling piers are deserted. A few rusting skeletons of unfinished boats stand outside empty, abandoned warehouses.

That's because business migrated to low-cost Turkey and China, and in a few short years, industry jobs dropped from 4,500 to 50.

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5:05am

Fri March 9, 2012
The Two-Way

Greece Takes Critical Step Toward Avoiding Bankruptcy

The European Union flag flies in front of the Parthenon in Athens. Greece's EU partners are about to give it another massive bailout.
Louisa Gouliamaki AFP/Getty Images

The important takeaway from this morning's news about Europe's financial mess:

It seems less likely that Greece will go bankrupt and more likely that it will get another international bailout that hopefully will shore up the nation's economy and prevent a domino-like tumble of other ailing European nations and the unsettling repercussions that could have for the U.S. economy.

As The Associated Press writes:

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1:13pm

Thu March 8, 2012
Europe

With Cutbacks, Greeks Say Antiquities Are At Risk

Originally published on Thu March 8, 2012 4:11 pm

The entrance to the Museum of the Olympic Games in Olympia, Greece, is cordoned off last month, after two hooded thieves broke into the museum and made away with more than 70 ancient objects. The stolen loot included chariots, horses and a gold ring that was more than 3,000 years old. Greeks say such sites are vulnerable because of cutbacks that have reduced the number of guards.
Dimitris Papaioannoy EPA/Landov

At the Museum of the Olympic Games in Olympia, Greece, lush pine trees and olive groves are filled with chirping birds. The one guard at the site looks nervously at the few visitors.

There is still a sense of shock in Olympia following the theft last month at the museum, when armed robbers broke into the building and tied up the single guard on duty.

Archaeologist Kostantinos Antonopoulos says they ran off with 77 priceless objects, including votive figurines, chariots and horses.

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10:01pm

Wed March 7, 2012
Planet Money

The European Central Bank, As Seen From A Bar On The Coast Of Spain

Originally published on Mon May 7, 2012 12:14 pm

JOSE LUIS ROCA AFP/Getty Images

"I have a little bar. A drinks bar," says Chadd Ritenbaugh. His bar is called El Catalonia. It's in the port of Marbella, on the Spanish coast.

"Just sun, sand, and sea," he says. "It's just kind of empty at the moment."

Ritenbaugh bought the bar in 2009. Since then, business has gone downhill. He tried, and failed, to sell.

"Nobody's out buying bars right now," he says. "Banks in Spain are not lending a cent — a euro cent."

Chad himself tried and failed to get a bank loan. "Absolutely nothing," he says.

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3:37pm

Wed March 7, 2012
Europe

Uncertainty Looms As Greek Debt Deadline Nears

People walk past the Bank of Greece headquarters in Athens. Greece toughened its stance to push creditors to accept a debt swap and take heavy losses, just one day before the Thursday deadline for completion of the deal to avert default.
Louisa Gouliamaki AFP/Getty Images

Stock prices rebounded somewhat Wednesday, one day after their biggest sell-off of the year. What caused prices to plunge Tuesday was an all-too-familiar problem: the Greek debt crisis.

European officials have cobbled together a deal to keep Greece from defaulting, and investors all over the world who hold Greek bonds are weighing their options. They're worried about what could happen if they reject the deal.

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