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Greece

2019 Greek Primary Surplus Exceeds Target By Several Billion Euros

The Greek state budget recorded a primary surplus of 5.755 billion euros in the period from January-October, significantly exceeding budget targets for a surplus of 2.314 billion euros in the same period, the country's General Accounting Office said in...

Greek State Debt Rises to €345.3 Billion in June

Greece's central government debt reached €345.3 billion at the end of June, up from €343.7 billion three months earlier, according to data published by the General Accounting Office on Friday. The state's cash reserves stood at €13.08 billion, up from...

Greece's General Accounting Office Delays Payment of State Debts to Private Sector

Greece's General Accounting Office has failed to repay outstanding debts to the private sector on time, a prerequisite for the disbursement of the bailout loan subtranche of 800 million euros. According to a Kathimerini newspaper report, the funds have been...

Greek Government Arrears Piling Up

An increase of nearly 70 million euros was recorded in the government's arrears to individuals in June, with debts amounting to 5,134 billion, from 5,067 billion in May. According to State General Accounting Office figures, 3,579 billion account for overdue...

Greeks Called Upon to Pay €4.5 Bln in New Austerity Measures

Greek taxpayers and pensioners are called upon to pay over 4.5 billion euros after the reduction of the tax-free income and pension cuts in order for the government to close bailout program review. Specifically, the lowering of the tax-free threshold...

Tsipras-Mitsotakis Battle it out in Greek Parliament Over Controversial Bill

Prime Minister Alexis Tsipras and main opposition leader Kyriakos Mitsotakis exchanged harsh words in Greek Parliament on Friday over a controversial bill exempting a certain businessman of fines. The bill amendment appeared in the House at the last minute on...

Greek State Dodges Payments to Suppliers

The Greek State has only paid 47.2 million euros in the first two months of 2017 out of the 3.8 billion it owes to suppliers and service providers, according to General Accounting Office figures. On January 1st, State debts to...

New Pensions in Greek Public Sector Will be Slashed 15%-25%

Greek public sector employees and military staff who are about to retire will see that the new pensions will be 15 to 25 percent lower than expected. A new circular distributed by the General Accounting Office shows in detail the...

New Debts to the Private Sector Pile Up as Greek Government Repays Previous Debts

While the Greek government has begun to repay its debts to the private sector, new debts are starting to pile up, according to the Finance Ministry. Based on the data provided, at the end of September the amount of arrears...

Greek Government Arrears Repayment of 1.1 Billion Euros in July

According to figures released by the Bank of Greece (BoG) and the General Accounting Office on Thursday, the Greek government has deposited 1.1 billion euros back into the Greek market. The payment in arrears went, for the most part, to...

Police Stage Occupation of SYRIZA Offices Ahead of Govt Pension Reform

15 uniformed officials, mainly police officers belonging to the Hellenic Federation of the Police (POASY) and unionists from the Greek Coast Guard and Fire Brigade, gathered at the central offices of the ruling Radical Left Coalition (SYRIZA) party in...

Greek Education on the Brink of Tragedy

The Greek education system has been hit hard by the economic crisis and is on the brink of a tragedy, according to a trade union report. According to EurActiv, the report by the General Confederation of Labour in the area...

Greek State Employees and 57 Companies Engulfed in Latest Corruption Scandal

A high-ranking official of Greece's General Accounting Office has been charged for illegally making the Greek state a guarantor to 57 businesses in Northern Greece that were facing financial challenges. The prosecutor's investigation has found that this employee signed off on requests for the Greek state...

Tsipras: Abolition of Tax Exemption for Greek Cabinet and Parliament Members

Greek Prime Minister Alexis Tsipras announced the abolition of tax exemptions for cabinet and parliament members, public utility company directors and independent administrative authority directors. Tsipras met with State Minister for Administrative Reform issues Christoforos Vernardakis, Deputy Minister for the...

Greek Bailout Talks Expected to Start Tuesday

Greece will start talks with its international creditors over a new bailout package on Tuesday, while the mission chiefs will arrive in Athens with a couple of days delay for technical reasons. "The reasons for the delay are neither political...