Greek Households Reduce Food Consumption by 27%; Wealth Declines to 40%

Crisis-stricken Greeks have seen their wealth decline by 40%, their income dropping 26% and food consumption reduced by 27% in a five-year period, a...

ECB Chief: Up to Greece to Decide Whether to Tap Bond Market

European Central Bank President Mario Draghi said on Thursday that it is up to Greece to decide whether to tap the bond market again,...

Varoufakis: ‘I Was Right About the Debt, and You Know it!’

Former Finance Minister Yanis Varoufakis replied to an article published in Kathimerini through his blog. Here is his reply: In a recent article entitled “Varoufakis and...

Special Secretariat for Private Debt Management to Set up Online Platform to Track Down...

Banks and authorities in Greece are teaming up to try to create an asset register for debtors, including tracking money that was sent abroad...

Greek Homes Lose a Third of their Value in 5 Years

The Greek economic crisis has hit the housing market hard as new data for the 2009-2014 period show that the median value of Greece's...

Greece Awaits IMF Report Before Exit to Markets

The Greek government will assess market reactions to the IMF's debt sustainability report published today, before deciding to proceed with issuing a government bond...

Greek Prosecutor Reopens Case Against Ex-Statistics Chief

The case of Andreas Georgiou, the former head of Greece’s statistical service (ELSTAT), will be re-opened despite the fact that it has been twice...

Mission (Almost) Impossible: Getting a Loan from a Greek Bank

Liquidity in the Greek economy has reached new lows as banks are unable to reduce bad loans that have reached 105 billion euros. According to...

‘Tablet Levy’ Now Applies to Smartphones According to New Law Passed

On Monday, Margaritis Schinas, a European Commission spokesman said that Brussels is investigating if a specific third-party levy the government continues to impose on...

Germany Earned €1.3Bln From Greek Debt Crisis

Since the beginning of Greece’s economic crisis in 2009, Germany has earned 1.3 billion euros as a result of its loans to Athens and...

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...

Greece Postpones Exit to Markets Until IMF Meeting

The Greek government decided to postpone testing the waters in the international money markets that was initially planned for Monday or Tuesday. According to press...

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