New Bill on ‘Plastic Money’ Allows Consumers to Build-up Tax-free Allowance

The draft bill tabled in Parliament last week will usher in a new way for tax-payers to "build up" their tax-free allowance as of...

Piraeus Bank New CEO Races to Reach Target for Reducing Bad Loans

Christos Megalou, the new chief executive officer of Piraeus Bank SA is trying to make up for lost time, says a report in Bloomberg. Megalou...

ECB Lowers Funding Cup for Greek Banks by €1.1 Billion

The European Central Bank lowered the cap on Emergency Liquidity Assistance (ELA) Greek banks draw from the domestic central bank by 1.1 billion euros...

Canadian Financier Watsa: ‘I’m Optimistic About Greece’

Canadian financier and Fairfax Financial Holdings Chief Executive Prem Watsa expressed his optimism for Greece on Monday, saying the climate in the country will...

EC Suggests Looser Approach to Capital Controls on New Money

European Commission officials are recommending a change in Greek banking policy to reduce the impact that the imposition of capital controls has had, sources...

Private NPLs Exceed Greece’s GDP

There is a steep Greek debt in private loans in comparison with the country's GDP, the Greek newspaper Kathimerini reports. According to the news source,...

Strategic Defaulters Owe €10 Bln to Greek Banks

One in five (21%) of nonperforming loans in Greek banks’ portfolios, amounting to 10 billion euros, belong to borrowers who are able to repay...

Greek Tax Authority Gets Data from Bank Deposits Abroad

The Independent Public Revenue Authority is expected within September to receive data on bank accounts held by Greek citizens in 49 countries. In exchange, Greek...

Greek Bond Yields Hit 12-Year-Low

Greece’s 10-year borrowing costs hit their lowest in 12 years on Friday, benefiting from expectations of an exit from its bailout this year, underpinned...

ESM’s Regling Warns of Greek Banking System Collapse Without Third Bailout

European Stability Mechanism (ESM) head Klaus Regling has warned of a collapse in the Greek banking system if the country does not secure a third...

Greece to Recruit Cash Sniffing Dogs to Sniff Out Tax Evaders

  A post on a Greek government website on Wednesday said that the Finance Ministry will be forming a committee to put together a team of specially...

SSM Nouy: Prioritizes Settling Corporate NPLs Before Primary Residences

The focus of settling non-performing loans (NPLs) should be focused on corporate loans which have reached around 65 billion euros, not primary residences, according...

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