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Greece

Seven in Ten Greeks Are Now Using Debit and Credit Cards

More than two out of three Greeks are now using debit or credit cards for their daily transactions, even though they have reservations over their use, a new study shows. In the survey conducted March 6-13 by the Commerce and...

Increasing Number of Greeks Pay Income and Property Tax With Credit Cards

More and more Greeks have turned to credit cards to help them in paying their income and property taxes, according to the Greek newspaper Kathimerini. According to their data, the total amount of taxes put on credit cards in 2016...

Free Groceries and Cars for Those Who Use Credit Cards

Taxpayers who use "plastic" money will receive numerous benefits that are not available to those who pay in cash. New legislation being drawn up by the Ministry of Finance includes huge incentives for electronic payments. Tax reductions and the chance...

Greeks Owning Credit Cards are 60% Less than Before Economic Crisis

The poor creditworthiness of most Greek citizens puts on hold the finance ministry's plans to give incentives for the use of credit cards as part of the campaign to fight tax evasion. Despite the increase in the use of plastic...

Cash Transactions Falling While Greeks Use Credit Cards Causing Retail Food Prices to Rise

For decades now it is an undisputed fact that in Greece, cash is king. People have been using cash across the country to cut better deals at markets as well as your average clothing store and even buying food in cash...

Syrian Refugee Finds and Returns Wallet With Cash and Credit Cards

A refugee from Syria who has been staying for the past month in an accommodation center at Tsepelovo -- a village in Zagori region, Ioannina -- found a wallet with cash and credit cards and rushed to find the...

Fin Ministry Bill Gives Tax Breaks to Greeks Making Payments With Credit and Debit Cards

Taxpayers who use their credit and debit cards to make payments will be eligible to claim a tax-free threshold in 2017, according to a new bill drafted by the Finance Ministry and tabled in Parliament Monday night. This means that...

Greek Credit Card Lottery Offers €1M in Tax-Free Prizes

More than five million Greek taxpayers on Tuesday will be taking part in a lottery for December credit card transactions which will dispense €1 million ($1.2 million) to 1,000 lucky winners who will receive a €1,000 tax-free bonus each. It is...

Will Creditors Approve Government's Plan of Incentives for Making Credit Card Purchases?

According to sources, there is a plan in the making to drive Greeks to use their credit cards to make purchases. The government has a 12 point plan as a part of a long-awaited bill with incentives to increase...

Report: Surge in New Debit Cards in Greece Since Capital Controls

The capital controls that are in effect in Greece as of June 28 and the three week closure of Greek banks, have caused a significant shift in how Greeks make their transactions. According to Bloomberg, since June 28 1 million debit cards...

Foreign Airlines Will Only Accept Credit Card Payments from Greece

Greek tour operators received a letter from British Airways and Spanish Iberia airlines notifying them that from now on they expect tickets to be booked with credit cards only through the special GDS system. A few days ago, Turkish Airlines also issued an...

Thousands Demonstrate Against Greece's Deal with Creditors

Thousands of Greeks rallied on Monday evening at Syntagma Square in downtown Athens to protest against the proposed deal by Greece's creditors. Most protesters said they are against "the blackmailing of the European Union and the International Monetary Fund." The rally was...

Greek Supreme Court Upholds 16.5% Interest Rate Charged by Credit Card Companies

Greece 's Supreme Court upheld the 16.5% interest rate charged by banks for credit card debt as legal in a case before the A1 civil section of the court. The case was brought up by a consumer for a card...

Athens Public Transport to Issue Smart Cards

In 2016 commuters in Athens will be able to use smart cards in order to move around the city using public transport after a deal that was signed on Monday. The Athens Urban Transport Organization (OASA) signed a deal with...

Changes in Credit Consolidation System

The government and Greek banks are considering a change of rules governing the operation of the Tiresias Credit Consolidation System, by introducing a more flexible system in order to stop the rising number of bad loans. In this context, authorities are examining...