Economy

Germany could agree to an extension of the repayment of European Union loans to Greece provided private creditors also agree to an extension, Lars Feld, an adviser to Chancellor Angela Merkel, was quoted as saying by Real News in...

The Greek government will auction 26-Week Treasury Bills on March 8 in book entry form, with maturity 9 September 2011, according to an announcement. Public Debt Management Agency said on Friday that the amount to be auctioned is EUR 1,250mn,...

Chancellor Angela Merkel told German parliamentary leaders that it was unlikely she’d agree to cut interest rates on rescue loans to Ireland and Greece, said two officials present at the meeting. Merkel told the lawmakers in Berlin this week that...

Fitch Ratings said that Greece’s ratings could fall sharply if the country fails to regain access to the capital market at affordable rates by the end of 2011. Greece is effectively “fully financed” throughout 2011, assuming it remains on track...

Standard & Poor΄s Ratings Services said it keeps Greece and Portugal on watch for possible credit downgrades, underscoring the continuing difficulties facing fiscally strapped governments in the European debt crisis. Regarding Greece, it remains "uncertain about the ultimate nature, and...

Regional Development and Competitiveness Minister Mihalis Chryssohoidis, speaking Monday at an event by the ISTAME foundation, referred to the plan regarding the country's new growth model.  He stressed that it concerns a big support package, over 10 billion euros,...

Hellenic Telecommunications Organization SA, Greece’s biggest phone company, will cut overtime and allowances for managers, to save 32 million euros as profit and sales fall. The Athens-based former monopoly, in which Deutsche Telekom AG has a 30 percent stake,...

Greek inflation, as measured by the harmonized index of consumer prices, eased to 4.9% in January from 5.2% in December, the Hellenic Statistical Authority said Monday. The index fell 1% on a monthly basis, compared to 0.5% increase in December....

Coca-Cola (NYSE:KO) second-largest bottler, Coca-Cola Hellenic (HLBr.AT), announced Monday it has issued a $412.9 million bond for the purpose of refinancing maturing debt. Athens-based CCH said in a statement, "The issue was significantly oversubscribed and has been placed with a...

Despite Muammar Gaddafi’s enormous private property, Libya owes more than USD 700mn to Greek companies that have been operating in the Northern African country. Some of the outstanding debts, which amount to USD 716.2mn (EUR 520.4mn), are pending since the...

The Greek economy is expected to shrink by a further 3 per cent this year, Finance Minister Giorgos Papakonstantinou said Thursday, nevertheless pledging to maintain the country's deficit-cutting course. The Greek economy had already contracted by 4.5 per cent in...

Moody΄s Investors Service announced on Thursday that it downgraded Cyprus΄s government bond ratings by two notches to A2 from Aa3, reflecting its view of the country΄s weakening medium-term credit fundamentals. Moody’s said that the key drivers for the rating action...

German economist Otmar Issing told Reuters that Greece will ultimately need some form of debt restructuring, but not now. "The question is about contagion effects. If one country fails, the next might next join and markets might test one country...

George Papanreou is undergoing efforts concerning the investment deficiency and money shortage.  A line of trips are being planned to China, Japan, Australia, India, Brazil, U.S.A and Canada, as well as European countries such as Germany and...

The market is shocked after the deal between the National Bank and Alpha Bank went sour.  The Greek government was hoping for a positive climate change in its finance sector. It is characteristic that the Finance Ministry had earlier commended this development,...