Greece

Piraeus Bank, Greece's largest lender, announced on Thursday it has financed the acquisition of five hotels in resort locations on the island of Crete by the international real estate company Henderson Park and Hines. The 1,094-room, 67,000-square-meter portfolio comprises five...

Seven out of ten Greeks foresee no change whatsoever in the course of the economy and their personal finances after the end of the bailout program, a new survey shows. The research was conducted by PULSE on behalf of the...

Piraeus Bank, Greece's biggest lender, has announced it will finance the development of the Thriassio Transit Center, which will help increase freight transport by rail and promote Greece as a major freight hub in the trans-European transport network. It will...

The European Council said on Monday that Greece's deficit is below the reference point of 3% of gross domestic product, and the country can exit the bloc's 'excessive deficit procedure' (EDP). EDP is an action launched by the European Commission...

The accusation that some of the measures on employment proposed in the government’s Growth Plan will burden Greeks further is unfounded, sources from the Economy ministry told the Athens-Macedonian News Agency on Sunday. The comment was a reply to New...

A possible negative decision by the Council of State on the government’s TV licensing law will be a bad development for the operation of democracy, State Minister Nikos Pappas said on Friday, speaking to radio station Real FM. He said...

Government Vice President Yiannis Dragasakis estimated that the course of the public finances in 2016 will be better than expected, at an interview to "Kokkino 105.5" radio on Tuesday. Asked on the course of the negotiations with the institutions and...

The Kykkos Monastery of Cyprus is the latest victim of the country's ongoing economic crisis. Reports emerged yesterday that the monastery – historically, the island's wealthiest – has been forced to carry out a series of cutbacks, including layoffs. According...

Greek state prosecutor Calliope Dagiada has ordered a tax audit and an investigation of PASOK’s finances to ascertain whether embezzlement has been committed. According to Greek news, the investigation will focus on the political party’s finances during the period of 2007-2010. The...

Greece's Deputy Finance Minister George Mavraganis has presented documents to Parliament citing 908 non-governmental organizations (NGOs) under investigation by Finance Ministry inspectors. In what appears to be only the beginning of a lengthier investigation into NGOs, Mavraganis stated: “The selection process for further investigation will continue.” The Directorate...

As Greece prosecutes the leaders of the neo-Nazi Golden Dawn party on charges of running a criminal gang, investigators said they want access to financial records and bank accounts of the suspects and are asking the help of the...

Cross the border to Greece from Bulgaria or Turkey and you move from narrow, potholed, lethal truck runs onto the wide and empty magic carpets of Greece΄s freeways. The financial crisis is global, but it΄s Greece that΄s a mess,...

CNN is hosting a special commentary on Greece’s ‘digital future’ trying to give the answer to the question “Can the digital revolution rescue Greece from economic crisis?” The writer, Andrew Keen, is a British-American entrepreneur and professional skeptic. He...

The Hellenic Air Force cancelled its scheduled training activities from Monday the 26th to Friday the 30th of September due to its bad finances. According to daily newspaper Elefterotypia, the above mentioned training is part of the general training “Alexander-2011”...

Interviewed by an Austrian magazine, French Finance Minister Christine Lagarde said she would make no comments on the IMF debate, but is flattered to be considered as a possible candidate for the leadership of the International Monetary Fund. Lagarde...