Finance Minister Announces New Property Tax

Greek Finance Minister Evangelos Venizelos on Sunday announced new budget cuts totaling around 2 billion euros as demanded by the European Union and the...

Germany Prepares for Greek Insolvency‎

German Finance Minister Wolfgang Schäuble is making preparations for a Greek insolvency, according to newsweekly Der Spiegel. His officials are reported to be preparing for...

Papandreou Pushes On With Austerity, Workers Face the Axe

THESSALONIKI – With Greece only weeks away from bankruptcy without a new instalment of international aid, and scores of thousands of demonstrators on the...

Success of Greek Bond Swap Plan Hangs in Balance

Adequate private sector participation in a Greek debt swap meant to help the southern Mediterranean country avoid default hung in the balance Friday, radio...

Wholesale Turnover Down by 10.8% in Q2

Greek wholesale turnover fell by 10.8% in the second quarter of the year, as ANA reports citing a survey from the independent Hellenic Statistical...

Greece Able To Pay Only Salaries And Pensions

Greece is now facing the critical possibility of shortage of funds to meet the basic needs of the state, causing intense fear within the...

Unempoyment at 26% in 2012, Say Unions

Unemployment in Greece will reach 26% next year. This is the alarming figure contained in a study carried out by the employment institute of...

Europe Pushing Greece To Cut Deficit By Further 0.7% Of GDP

Europe is pushing for Greece to cut its deficit by an additional 0.7% of gross domestic product this year in order to win further...

CEO of EFSF Warns Standard of Living Will Fall for Greece

According to Reuters, Klaus Regling, CEO of the EFSF (i.e. European Financial Stability Facility) said during a discussion organized by the Social Policy Association...

Greece: Sovereign Default Projected in December

The Royal Bank of Scotland (RBS) projects that Greece will face a sovereign default in the middle of December, because the Greek government is...

EU Officials Increasingly Frustrated

According to Reuters, Greece's budget gap this year will be at least one percentage point of gross domestic product higher than the 7.6 percent...

Names 6,000 Businesses For Tax Evasion

Greece's Finance Ministry Thursday released the names of 6,000 businesses that owed more than EUR30 billion in unpaid back taxes as part of a...

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