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Greece

IMF Warns Greece Could Face The Worst Coronavirus Recession in Eurozone

The International Monetary Fund (IMF) recently presented its World Economic Outlook, in which it predicts that Greece could experience one of the worst recessions in the world due to the coronavirus pandemic. The IMF said that Athens will see a...

Eurozone Accepts Greek Government Bonds as Collateral

Greece welcomed a decision by the European Central Bank on Tuesday to accept Greek government bonds as collateral as a move “that will further boost liquidity in the economy.” "We welcome the ECB's decision to accept Greek government bonds as...

Standard And Poor's Upgrades Greece; Expects Growth Higher than Eurozone Average

Rating agency Standard and Poor's upgraded on Friday evening Greece's sovereign credit rating by one notch, from B+ to BB-. The agency noted that the decision of the government in August to lift the remaining capital controls was implemented without...

Greece Still Among Eurozone States With Very High Taxes on Consumption

According to a recent study conducted by the ''Tax Foundation'' think tank, Greece is still among those Eurozone member states that impose the highest taxes on consumption. Taxes on consumption are traditionally the highest in Europe, but after ten years...

PM Mitsotakis Pledges to Make Greece ''Eurozone's Pleasant Surprise'' During Thessaloniki Fair

Greece will be the pleasant surprise of the Eurozone, Prime Minister Kyriakos Mitsotakis said on Sunday during the PM's press conference at the 84th Thessaloniki International Fair (TIF). Mitsotakis did not agree with some pessimistic forecasts in regards to the...

No Agreement on Primary Residence Protection Delays Eurozone Cash to Greece

The Euro Working Group concluded its meeting on Monday night without an agreement on when the Eurozone will release the first tranche of approximately one billion euros to Greece. This amount of money is the first tranche of approximately €4.8...

Despite Financial Crisis, Greece Still Better Off In the Eurozone

The Center for European Policy (CEP) published a study on Monday which states that Greece added €2 billion to its economy in the sixteen years between 2001 and 2017. This figure is of course quite low compared to other Eurozone...

Greece Tops Eurozone in Indirect Taxation

Greece has the highest level of indirect taxation in the eurozone and it is likely that it will remain in the same position in 2019. This finding steps from next year's draft budgets recently submitted by the 19 eurozone...

Dijsselbloem: Eurozone Countries Asked Too Much From Greece

During an interview on Dutch television current affairs program Nieuwsuur on Saturday, former Eurogroup chief Jeroen Dijsselbloem stated that the Eurozone countries asked too much from Greece regarding the bailout program and reforms that the country has been living...

Eurozone Official Says Discussion to Suspend Upcoming Pension Cuts 'Premature'

A senior eurozone official has said that the issue of upcoming pension cuts will go forward as soon as representatives of Greece's creditors go to Athens in late September for the first post-bailout inspection. The Greek government has recently stated...

Greece First in Taxes Among Eurozone States, Survey Reveals

Ten years ago, in 2008, Greece had the 13th place among the European States who share the Euro as their currency, regarding the taxes-to-GDP ratio. After 10 years and three bailout programs from the International Monetary Fund and the...

Eurozone's ESM Postpones €1B Loan Tranche to Greece

A report claiming Athens has not made enough progress in clearing debt arrears is being blamed for a eurozone decision to suspend a €1 billion ($1.1 billion) loan to Greece. The board of the European Stability Mechanism (ESM) decided on Friday...

Eurozone Eyeing 'Credible' Greece Debt Relief, Says Centeno

Eurozone lenders will put together a debt-relief deal for Greece that will be credible to markets and involve a rescheduling of loans from the second Greek bailout, said Mario Centeno, chairman of the eurozone finance ministers' group, according to...

Greek Unemployment Remains High, Despite Eurozone Decline

Greek unemployment remains among the highest in the eurozone, it was revealed on Thursday. Although official data from Eurostat showed eurozone unemployment fell to 8.5 percent in March -- the lowest rate recorded in the euro area since December 2008...

IMF, Eurozone Seek Last-Minute Deal on Greek Debt

Greece's eurozone creditors and the International Monetary Fund are trying to find a last-minute solution to the country's debt mountain so that the IMF contributes financially to the third bailout program. The Greek rescue program ends on Aug. 20 and...