Greece
Economy
Cost of Labor Increased By 2.2 Percent in Euro-Area, Data Reveals
The cost of labor was increased by 2.2 percent in Euro-area during the second quarter of 2018, according to data published by Eurostat.
This didn’t happen due to higher wages but mainly because of the increase in taxation of labor.
Across...
Economy
Greece Issues 30-Year Bond Confirming Full Return to Markets
Greece announced it will issue a 30-year bond, the longest-maturity sale since 2008, completing the country’s full return to debt markets.
Economy
EU Commission Set to Approve Greek Budget for 2020
The European Commission announced on Wednesday that it has adopted the fourth report for Greece under the Enhanced Surveillance framework.
This gives the green light to the December meeting of the Eurogroup to approve Greece's budget for the year 2020.
''The...
Economy
EU Blocks Cash to Greece Over Delays on Reforms
Greece's creditors decided on Wednesday to postpone a 750 million euro ($854.4 million) payment to Greece following concern over the country's foot-dragging over reforms.
In a European Commission compliance report released in Brussels, the creditors call on Greece to fully...
Economy
Greece Gets Debt Relief and Cash Payout as Bailout Saga Ends
Eurozone ministers agreed debt relief and a big cash payout for Greece in the early hours of Friday paving the way for its program exit in two months’ time.
“After eight long years Greece will finally be graduating from its...
Economy
Greece to be Subject to Strict Post-Bailout Surveillance
Greece will be subject to strict surveillance by European institutions after the end of the third bailout program in August.
According to a document seen by Greek newspaper Kathimerini, Athens will be obliged to meet fiscal targets and continue implementing...
Economy
Rescue Fund Chief Warns Greece to Stick to Reforms
The Greek government should remain focused on implementing the prescribed reforms to regain investors’ trust and return successfully to the markets, the head of the European Stability Mechanism, Klaus Regling, warned on Tuesday.
Speaking at a dinner for the 90th...
Economy
Greek Plan Vows to Keep Budget Surplus at 3.5% of GDP Until 2022
Greece has vowed to keep its primary budget surplus -- the balance before debt servicing -- at 3.5 percent of GDP until 2022 according to a document released describing the country's post-bailout strategy.
The 106-page document, which was presented at...
Economy
EU's Moscovici: Greece Needs 'Suitable Supervision' after Program Ends
Greece finally sees the light at the end of the tunnel, but a suitable form of supervision is needed for years after the bailout program ends, said Economic Affairs Commissioner Pierre Moscovici.
The EU official is in Greece for a...
Economy
Greece Reaches Deal with Creditors on Reforms under Bailout Review
Greece and its international creditors agreed on a set of economic reforms the country must undertake in exchange for fresh loans.
The agreement on a range of often politically sensitive measures - covering fiscal issues, energy and labor market reforms,...
Economy
Greeks Are Still Seeking Jobs in the UK, despite Brexit
No matter what Brexit might have in store for foreigners, the UK remains a powerful magnet for youth from Italy and Greece looking for a job and a better future.
That’s according to the latest data on the UK national...
Economy
"Clarity" on Greece's Debt Still Not that Clear: The Economist Conference (Videos)
Representatives of the Greek government, the Institutions and private investors all agreed that clarity is essential for Greece's economic recovery; however the term seems to be having different meanings according to who is using it. The only thing that's clear...
Greece
IMF Report: Pension Reductions, Tax and Labor Changes Needed
The International Monetary Fund (IMF) Greek Head Delia Velculescu held a conference call with reporters on Friday. She stated that Greece’s growth outlook remains weak, and pointed to further deep reforms necessary. She also said that debt relief from...
Economy
Greek PM Tsipras Has 3 Options to Follow to Unlock Aid, says Bloomberg
Greek Prime Minister Alexis Tsipras faces a "potential bombshell" with the additional austerity measures creditors demand and there are three scenarios on how he will act, according to a Bloomberg analysis.
The disagreement between the International Monetary Fund and European...
Economy
IMF Pushes Europe to Formally Restructure Greek Debt
The International Monetary Fund reiterated that it will contribute funds to Greece's bailout under the condition that Europe will formally restructure the country's debt, according to a Bloomberg report.
Greece has signed a three-year bailout program worth 86 million euros...