Kathimerini States Bad Greek Loans Likely to Exceed 31 Billion Euros

Bad loans at Greek banks in 2011 are likely to exceed 31 billion euros ($41 billion), or 12% of total loans, up from 10%...

OTE Cuts Extra Payments & Benefits to its Parent & Susidiaries Managers

Hellenic Telecommunications Organisation (OTE) proceeded with the cutting of extra payments and benefits of both its parent and subsidiaries managers. This is considered as...

Regulatory Authority for Energy Approved Tariff Increases

Greek electricity utility Public Power Corp SA (PPC.AT) said Tuesday that the local Regulatory Authority for Energy, or RAE, has approved its proposed tariff...

Public Debt Management Agency States Greece will Resume Monthly Treasury Bill Auctions

Greece will resume its monthly Treasury Bill auctions in January, the chief of the country’s Public Debt Management Agency said on Tuesday, according to...

Deficit Of Trade Balance Dropped by 38.4% in October

The deficit of the trade balance in October recorded a drop of 38.4%, according to Hellenic Statistical Authority’s announcement, based on provisional data. Specifically, the...

Ministry Of Culture & Tourism Launches “Green Tourism” Programme

Subsidies for “green” hotels would reach 45%, according to an announcement by the Ministry of Culture and Tourism.  The department stated this on the occasion of...

Greece’s IMF Rep. Claims Extension of Repayment Period Approved

Greece's representative to the International Monetary Fund (IMF), Panagiotis Roumeliotis, on Friday was quoted.  He stated that the Washington D.C based institution has essentially...

Government Allocates 100 Million Euros for Export Firms

The Greek government will create the special fund ''Go 2 Market'', which will have an initial capital of 100 million euros. It is meant...

Fitch Places Major Greek Banks on RWN

Fitch Ratings said it placed the long-term ratings of major Greek banks on rating watch negative (RWN), after placing Greece’s sovereign rating also on...

Scrapped Bonuses Means Fewer Greek Gifts

Twice as many Greeks as last year say they have no additional income to spend over the holiday period, Kathimerini reported, citing a survey...

Greek Parliament Passes Austerity Budget Amid Protests

Greek lawmakers approved the 2011 budget in the early hours of Thursday amid ongoing strikes and protests by labor unions over painful austerity measures...

Government Ridicules Return to Drachma Currency

Government spokesman Giorgos Petalotis on Tuesday again dismissed the prospect of early elections.  He also ridiculed a return to the drachma currency, speaking to a...

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