Economy
Economy
Deutsche Bank Boss in Talks over Greek debt: Report
The head of Germany's biggest bank, Deutsche Bank, is conducting talks over a 50-percent write-down of Greek debt in his capacity as chairman of the global banking lobby, a newspaper reported Sunday.
Citing both government and banking sources, the mass...
Economy
Venizelos Blasts Strikers, Says Tax Evaders Will Be Named
ATHENS - As growing numbers of public workers join the ranks of strikers protesting pay cuts, tax hikes, and the layoff of 30,000 workers Finance Minister Evangelos Venizelos blistered them for their actions and said the city was under...
Economy
The Newest Greek Odyssey: Living in Strikeland
State schools closed, hospitals running only on emergency staff, trash piling up, trains halted, metro and cabbies on strike, tax offices closed, customs officers walking out of their jobs, airlines grounded[...]
Economy
Greece Talks Trash to Garbage Collectors
ATHENS - With rubbish piling up and even blocking some streets after two weeks of a strike by rubbish collectors, public health authorities said the government might bring in private companies to pick it up, signaling what could be...
Economy
Trichet: If Greece Defaults, ECB will Not Accept Government Bonds
During his interview with the Financial Times yesterday, the departing Head of the ECB Jean Claude Trichet made clear that if Greece is pushed into default, then the ECB will no longer be able to accept its government's bonds...
Economy
French Fin Min: Merkel, Sarkozy To Announce New Greek Haircut On Oct 23
French Finance Minister Francois Baroin said Saturday that euro zone leaders will announce the extent to which private sector creditors will write down their Greek bonds at a summit in Brussels slated for next Sunday.
Baroin said that significant progress...
Economy
Schaeuble: Euro-Zone Members Confident Of Resolving Greece's Woes
German Finance Minister Wolfgang Schaeuble said Saturday that euro-zone members were confident of resolving Greece's debt woes.
He also said G-20 finance ministers and central bank governors meeting in Paris acknowledged the efforts made by the euro zone to contain...
Cyprus
IMF Warns Cyprus of Possible Fiscal Shortfall
The IMF warned Cyprus that its economy faces “substantial downside risks”.
In its annual review on the Island’s economy, the IMF urged the government to intensify efforts to balance its budget by 2014 and to implement spending cuts to reverse large...
Economy
Telephone Conversation Between Papandreou and Barosso
PM George Papandreou contacted the President of the European Commission Jose Manuel Barosso via telephone earlier in the afternoon to inform him of the latest developments and news concerning the Greek debt in view of the coming EU Summit.
Mr....
Economy
Greek House Prices to Decline Further by 2013
House prices in Greece will decline by 10% by 2013, according to National Bank of Greece's monthly report on the economy, published on Thursday.
The report estimates that the total correction of prices from their peak in 2008 will amount...
Economy
Russian President Medvedev to Visit Athens
Russian President Dmitry Medvedev will visit Greece, which is looking for support in the International Monetary Fund for its efforts to pull through the financial crisis, Finance Minister Evangelos Venizelos stated on Friday.
"We want Russia's support, as we want...
Economy
Greek Surtax Doubles, Tax Inspectors Set to Strike
A relentless wave of tax increases hasn't provided enough revenue to plug a deep hole in public finances, so a new supposed one-time “solidarity” surtax on income paid by Greeks will continue next year[...]
Economy
Greece To Sell €1.25B 13-Week Treasury Bills
The Greek state will sell €1.25 billion of 13-week treasury bills at an auction on Tuesday October 18, according to the Public Debt Management Agency.
The uniform yield at the previous auction was 4.56%, while the settlement date is on...
Economy
Greece and Turkey Sign Tourism Cooperation Protocol
Greece and Turkey signed a tourism cooperation protocol in Vouliagmeni, Athens, with visions of a greater exchange of information on issues of infrastructure, especially maritime tourism.
The protocol was signed on the sidelines of the 3rd joint Greek-Turkish tourism committee...
Economy
Greek Crisis Out Of Control: Primary School Pupils Faint from Starvation
“Our pupils faint due to starvation. We see our pupils coming to school with holes in their shoes. They don’t even have money to buy food from the school canteen[...]