Greek unemployment hits 25.4%

Greece's unemployment rate scaled a new record of 25.4 percent in August from a revised 24.8 percent in July, the country's statistics service ELSTAT has said.

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European Central Bank 'by and large done' helping Greece

Mario Draghi, the president of the ECB President
Mario Draghi said the European Central Bank is prohibited from providing direct aid Credit: EMILY WABITSCH/AFP/Getty Images

The European Central Bank (ECB) is "by and large done" helping Greece in its bailout because it is not permitted to provide direct aid, according to its president, Mario Draghi.

The ECB has resisted calls to take a 'haircut' on Greek bonds as they say this would be "monetary financing" which it is prohibited from doing.

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Greek unemployment reaches record high in August

Greece's unemployment rate scaled a new record of 25.4 percent in August from a revised 24.8 percent in July, the country's statistics service ELSTAT has said.

A crippling, austerity-fuelled recession continued to take its toll on the labour market, putting Greek unemployment at more than double the euro zone average of 11.5 percent in August.

Greek leaders expel MPs who voted against austerity bill

Greece's coalition government expelled seven members of their respective parties for failing to vote for the latest, deeply unpopular, austerity reform package tonight.

Greek Prime Minister Antonis Samaras expelled one lawmaker from his New Democracy party, while Evangelos Venizelos expelled six from his Socialist party PASOK.

The expulsions reduce the fragile, three party coalition to 169 out of the assembly's 300 seats.

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