Greece got better news than expected when a meeting of Eurozone finance officials reportedly agreed to approve the release of two loan installments totaling 7.5 billion euros, some $9.72 billion, sources told the newspaper Kathimerini. Finance Minister Yiannis Stournaras was at the meeting. The paper said that the okay came early on as the meeting [...]
Tag Archives | Stournaras
Greece Eyes Loans, Samaras Heading To China
On a roll, the Greek government is hoping that Eurozone officials on May 13 will approval release of more loans as Prime Minister Antonis Samaras readies for a five-day trip to China beginning two days later in a bid to woo investment and tourists. Samaras, not having to worry about the same kind of social [...]
IMF Says No Greek Debt Restructure
On the heels of issuing a report praising Greece’s progress in reforms but criticizing its failure to go after tax cheats, the International Monetary Fund (IMF), one of Greece’s international lenders, does not expect a restructuring of the Greek debt any time soon, IMF spokesman Gerry Rice said. “We do not envision any new (debt) [...]
Sweet Deal For OPAP: $937.8M
Greece has sold its 33 percent stake in the gambling monopoly OPAP to a Czech-Greek consortium, Emma Delta, in a deal that will bring in 712 million euros ($937.8 million) some 30 million euros ($39.4 million) higher than an original offer but 18 million euros ($23.69 million) less than what the government hoped to realize [...]
Greece Strikes Deal To Sell OPAP
After long delays, Greece has finally managed to sell a 33 percent stake in the state-run gambling monopoly OPAP to private investors, but only after the government forced them to sweeten the deal with a higher offer on the last day for the bid to be accepted. Emma Delta, controlled by Czech investor Jiri Smejc [...]
Greece To Seize Tax Debtors Bank Accounts
Following in the footsteps of Cyprus, which is confiscating up to 80 percent of bank accounts over 100,000 euros ($130,000) to pay for a crisis caused by the banks, the Greek government is set to seize bank accounts of tax debtors who aren’t paying. The measure was tucked into a multi-bill approved by the Parliament [...]
Greek Parliament OK’s Multi-Bill With Firings
By a vote of 168-123 on April 28 just before midnight, the Greek Parliament – as expected – easily approved another set of reforms demanded by international lenders in return for continuing bailouts, including the firing of 15,000 public workers the next two years. The measures were sure to pass because the coalition government headed [...]
Greece Readies Firing Of 15,000 Workers
After much resistance, and insistence it could reduce the public workforce through retirements and firing problem workers, Greece has agreed to shed 15,000 positions through next year, including 2,000 who will be axed after the Easter holiday. Prime Minister Antonis Samaras gave the go-ahead after meeting with his ministry officials, but not with his coalition [...]
Greece Eyes Tax Cuts To Spur Economy
ATHENS – Greek Finance Minister Yiannis Stournaras said the country’s coalition government will try to persuade international lenders to allow a reduction in some taxes, particularly the 23 percent Value Added Tax (VAT) that is killing restaurants and taverns as tourist season looms. He also defended a drop in expected tax revenues that came despite [...]
Samaras Rosy On Recovery, Wants Lower VAT
Greek Prime Minister Antonis Samaras says happy days will be back in Greece again with new bailout loans coming to help the economy turn around and said his coalition government will turn now to imposing more reforms demanded by international lenders. Next up is completing the recapitalization of Greek banks and speeding the pace of [...]
Greece Will Reassess Property Values
The Greek Finance Ministry said it will quickly proceed with revising property tax values that haven’t been changed despite big pay cuts, tax hikes and slashed pensions as part of austerity measures that have greatly reduced the value of buildings, many going unrented or with reduced rents, forcing the owners to pay more for properties [...]
Spiegel Suspects Deposits Haircut in Greece
After the suspension of a planned merger of the National Bank of Greece and Eurobank because of capitalization problems and opposition from Greece’s international lenders, the German magazine Spiegel said it believes the Greek government is planning to confiscate some of the deposits in banks as happened on Cyprus. ’The magazine said the decision raised [...]
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Calendar – Exhibits, Concerts, Fun
- Greece Celebrates International Museum Day on May 18 May 18, 2013
- Edessa Cherries, Wine For Gastronomy Fair May 17, 2013
- Greek Choreographers Festival In Thessaloniki May 17, 2013
- Taxidi Exhibit 2013 Opens in Cyprus May 16, 2013
