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Greece Must Legislate 2nd Package of Prior Actions by December 11

The Greek government has a December 11 deadline to legislate the second package of prior actions in order to receive a tranche of 1 billion euros in financial aid, a European Union official said. The December 7 Eurogroup will discuss...

Greek Central Bank Governor Calls for Political Consensus

Bank of Greece governor Yannis Stournaras on Sunday called on the country's party leaders to show political consensus in order for Greece to get out of the economic crisis. Stournaras spoke on Mega television on Sunday saying it is crucial...

Greece and Creditors Agree on Second Package of Prior Actions

Greece and creditors have agreed on the second batch of prior actions required for the first bailout program review. The actions need to pass in Greek Parliament by December 8. According to Kathimerini daily, the prior actions include: Establishing an independent...

Greek State Owes €6 Bln to Businesses and Individuals

  The Greek state budget until end of October does not include payment of debts to individuals and private businesses that amount to 6 billion euros and estimated to reach 7 billion by the end of 2015. Based on the bailout agreement...

European Central Bank: "Greece Still in Jeopardy of Defaulting"

The European Central Bank (ECB) noted that even though after July Greece's expectations to default diminished, the stakes are still high due to concerns over an early and full implementation of the third bailout  program. For what concerns the Eurozone...

Greek 'Red' Loans to be Sold to Foreign Distress Funds

Greece's creditors ask for a comprehensive bad loans settlement plan to be completed and legislated by December 15 as part of the bailout agreement requirements. After resolving the non performing mortgages issue, the Greek government has to present a strategy...

Greek PM Tsipras to Call Party Leaders to Agree on Insurance Funds Reforms

Greek Prime Minister Alexis Tsipras is to call a meeting with party leaders and ask them to vote in favor of the unpopular security fund reforms required. The coalition government majority has dwindled down to 153 votes after the vote...

Varoufakis: 'Greece had a Chance to Default and we Missed it'

Greece had a chance to default and be kicked out of the European common currency bloc "but we missed it," said former finance minister Yanis Varoufakis. Speaking to the Guardian, Varoufakis said that the reason Europe is not able to...

Greek Coalition Gov't Rocky as More MPs Might Jump Ship

As the second omnibus bill that includes unpopular measures left the SYRIZA-ANEL coalition with two parliamentary members less, there is worry at Maximos Mansion that when the next bill comes to parliament for vote more lawmakers would depart. The Alexis...

SYRIZA Lawmakers Numb Ahead of Voting on Painful Measures

The new austerity measures that must be voted on in Greek Parliament on Thursday have left several SYRIZA lawmakers scratching their heads as most measures are the exact opposite of their pre-election promises to voters. The fragile majority of the...