Sachinidis: Greek Bond Swap Talks Progress But No Deal

Talks regarding a bond swap between Greece and creditor banks have made progress but there is no deal yet, the country΄s deputy finance minister...

Merkel and Sarkozy Urge Greece to Take Action as Default Risk Grows

ATHENS – Greece is nearing the cusp of defaulting on its loans and going under because its political leaders have failed to implement structural...

Cruise Lines Want to Expand and Use Local Greek Ports

Representatives of major international cruise lines have expressed interest in participating in the construction of infrastructure at a number of Greek ports, provided that...

Greek Real Estate Market Set to Experience Further Decline

Greek real estate prices are set to decline further in 2012, with the most conservative estimates putting the drop between 5 and 10%, as...

Merkel Warns on Second Greek Aid Package

German Chancellor Angela Merkel said on Monday it would not be possible to pay out the next aid tranche to Greece without rapid progress...

Financial Times: A Haircut of 55-60% More Likely for Greece

Greek bondholders are set to accept higher losses as the contentious negotiations over a writedown of Athens’ debt burden come to a head in...

Winter Sales Period Begins January 15 to Make Up for Holiday Losses

The winter sales period officially begins on January 15, running through the end of February, with merchants offering substantial discounts of up to 70...

Hospitals and Doctors Will Continue Their Strike

Doctors working in public hospitals, IKA, and private practices will continue their strike against health spending cuts as of next Monday, for another 5...

IMF to Adjust Greek Aid Package on Worse Economy

Greece will not be able to bear its debt burden under the current restructuring plan because of a worsening economy, Der Spiegel said, citing...

German Adviser: Greece Needs a Bigger Debt ‘Haircut’

In an interview in To Vima's Sunday edition, Clemens Fuest (adviser to Germany's finance minister Wolfgang Schaeuble), who is also an academic, said the...

Greek Deficit Worsens, More Austerity and Pain Looms in the Future

ATHENS – Interim Prime Minister Lucas Papademos’ pledge that his coalition government will not hit weary Greeks with more austerity measures may fall by...

ECB Orphanides: EMU Would Benefit From Greek PSI Reversal

European Central Bank Governing Council member Athanasios Orphanides called on European leaders to reverse their decision to have private holders of Greek sovereign bonds...

LATEST