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Greece

Greek Hotels Plead For Help Amidst Despair Over TUI Debt

Greek hotel owners are facing huge losses this year as Tui AG, the largest leisure, travel and tourism company in the world, is deferring the payment of monies due to them this year — until March of 2021. The Anglo-German...

ECB: Greece Should Complete Reforms to Help Banks Reduce Bad Debt

Greece should complete the reforms needed to help banks reduce bad debt and deal with the impact of the COVID-19 pandemic, the European Central Bank said, according to Reuters. The coronavirus crisis has stalled the efforts of Greek banks to...

Greece To Launch New 7-Year Bond, Says Public Debt Management Organization

Greece's Public Debt Management Organization issued an announcement on Monday notifying the Athens Stock Exchange that the country will soon be ready to launch a new seven-year bond. For this reason, the new leadership of the Finance ministry has already...

Tens of Thousands of Greeks Sign Up for Debt Repayment Plan

Over 45,000 Greek taxpayers who owe debts to the state have signed up electronically for the government's new 120-installment plan to settle their arrears, officials said on Thursday. According to the Independent Public Revenue Authority (AADE), the signups occurred within...

Billion-Euro Debt Relief Measures Approved for Greece

The Board of Directors of the European Financial Stability Facility (EFSF) approved on Thursday debt relief measures for Greece totaling almost one billion euros, the European Stability Mechanism said in a press release. The EFSF will reimburse the 103-million-euro step-up...

Greece's Public Debt Rose to 181.1 percent of GDP in 2018

Public debt in Greece and Italy grew last year, while the European bloc as a whole recorded an overall decrease in its liabilities, the European Union statistics office said on Tuesday. At the end of 2018, Greece, which is the...

Creditors Leave Athens Without Plan for Settling Tax Debt

The Greek government did not present their plans for settling tax debt in 120 installments during negotiations this week in Athens with their creditors' representatives. The creditors’ representatives will leave Athens with incomplete information for the second post-bailout assessment, which is...

Greece's Public Debt on the Rise

Greece’s public debt reached €334.988 billion in the third quarter of 2018, an increase of €21.493 billion over that of the same quarter in 2017, the Greek National Statistical Authority (ELSTAT) said on Monday. The Greek statistical authority noted that...

Tsipras Says Reparations "Moral Debt To All Peoples of Europe"

Greek Prime Minister Alexis Tsipras on Monday visited the town of Kalavryta, where the entire population of the town was executed by German occupation troops during WWII. Speaking to the local people about the December 13, 1943 atrocity, Tsipras said that German...

Greek State Delays Winery Deal for a Debt of 3 Cents

A Dutch businessman railed against against the Greek State this week, furious at the unnecessary delaying of his business deal for a debt of 3 cents he owed to the tax office, according to a report on Voria.gr news...

Bloomberg: 'Central Bank of Greece To Cut Bad Debts of Banks in Half'

  The Central Bank of Greece is working on a plan to cut in half all the bad debts that burden  Greek banks, according to a news report published by Bloomberg on Tuesday. This move is expected to strengthen trust in...

German Press: Greece Will Likely Need Another 'Bailout' Due to High Debt

Due to its high public debt, it is doubtful whether Greece will make it on its own in the long run without new financial support, a report by Frankfurter Allgemeine Zeitung says. This report comes after a comment made by...

Debt-Ridden Greece's Only Theater Museum Shuts Down

The Greek theatrical and cultural treasure that was established as a museum in 1938, is not open anymore and is facing a permanent closure. Among the museum’s collection, here you will find historic archives from the press dating back to...

Cypriot Households Remain Highly Indebted, Data Reveal

Cypriot households and businesses continue to be highly indebted despite the decline in debt levels, according to a report released on Tuesday by the Central Bank of Cyprus. According to the report, the debt of the non-financial private sector reached...

Greek State Debt to Private Sector Exceeds €3 Bln

With €306 million added in August, Greek State debt to private companies and individuals reached €3,036 billion, from €2,73 billion at the end of July. From the €3,036 billion, €1,974 billion are debts of government organizations and agencies to businesses doing...