ESM’s Regling rules out possibility of Greek debt reduction
To Vima — The head of the European Stability Mechanism Klaus Regling has categorically ruled out the possibility of a debt reduction for Greece, arguing […]
ECONOMY
National Bank of Greece seeks better bids before selling bad loans
Bloomberg –National Bank of Greece SA, the Grece’s oldest lender, will only consider selling batches of bad loans to distressed debt managers once country risk […]
Greek debt relief plan said to entail €33 billion euro bank bond swap
Bloomberg reports that the debt relief proposals for Greece to be presented at a December 5 meeting of euro-area finance ministers, will largely consist of swaps […]
Greece wants to conclude EU/IMF review but cannot accept ‘irrational’ demands
Reuters — Greece wants to conclude a crucial EU/IMF review of its bailout progress but cannot accept irrational demands on labour reforms or any extra […]
Greek businesses move abroad to escape austerity
Reuters — Greek business tax levels of 29% cause businesses to shut down or move to lower tax countries such as Bulgaria or Cyprus, helping those […]
Record drop in average spending by holidaymakers
eKathmerini — The annual drop in spending per trip by foreign tourists in Greece in the first nine months of the year was the biggest […]
Lenders to informally discuss Greek debt behind closed doors
German daily Sueddeutsche Zeitung reported that a group of finance ministers from the core EU countries – Germany, France, Italy, Spain and the Netherlands – plan […]
No agreement reached between Greece and lenders
To Vima — The latest talks between the Greek government and the representatives of the institutions on the second bailout review, which concluded at 5:30am […]
Top court rules ENFIA illegal in four areas
eKathimerini –The Council of State, Greece’s highest administrative court, has ruled that the ENFIA property tax had been miscalculated in four areas, and was therefore […]
Wolfgang Schäuble rules out debt relief for Greece
FT — Wolfgang Schäuble, Germany’s finance minister, has ruled out granting any debt relief for Greece, rebuffing a key demand of the International Monetary Fund even […]
In Greece, Obama calls for debt relief
DW — On his final international tour as US president, Barack Obama has advocated for debt relief for Greece. The Greek prime minister is counting […]
Greece sees surprise economic growth inlast two quarters
The Guardian — The Greek economy emerged from recession for the first time since 2014, managing two straight quarters of GDP growth, figures show. Greece’s […]
Tax increases have not worked
eKathimerini — Since 2010 Athens has introduced tax increases worth 37 billion euros in total, but the result is that state revenues have declined by […]
Greek unemployment rises to 23.4 percent in August, eurozone highest
Euronews – Greece’s jobless rate rose to 23.4 percent in August from an upwardly revised 23.3 percent in the previous month, statistics agency ELSTAT said […]
Eurogroup pours cold water over Greek hopes of debt relief
New Europe — Progress is needed on Greece’s reform to keep the International Monetary Fund’s participation in the programme, Eurogroup President Jeroen Dijsselbloem said ahead […]