Economy

The government is offering tangible support to Greek households government spokesman George Petalotis stressed on Wednesday, referring to a law allowing over extended Greek households to reschedule their debts with credit institutions. Under the law passed by Parliament on Tuesday,...

Troika’s auditors will keep a close eye on Greek state-run companies, hospitals, insurance funds and structures of the local power. Experts with the European Commission, the European Central Bank and the International Monetary Fund (the troika) today arrived on...

Five major banking institutions passed the stress test on Friday, while ATE, a state controlled bank failed. "The Bank will proceed to a capital increase to cover future capital adequacy needs," ATE officials said in a statement. National Bank of...

An inter-ministerial privatization commission meeting on Friday agreed to appoint two to three advisors to examine the Greek state’s future moves in the country’s banking system and to adopt a more efficient management policy of the state’s real estate...

Greek customs have confiscated the highest number of counterfeit goods within the European Union over the past year, according to the annual report issued on Thursday by the European Commission on customs actions to enforce intellectual property rights at...

An appeals court judge on Wednesday filed a petition with Greece's Salary Court to cancel pay cuts imposed by the Greek government as unconstitional and contrary to the European Convention on Human Rights. The judge was protesting to cuts...

Minister for Economics Louka Katselis announced a package of measures ( credits, bank guarantees, subsidies over 9 bilion euros) to give a breath to tens of thousands of middle-sized businesses facing liquidity problems within the frame of "National Support...

Greek Finance Minister George Papaconstantinou on Monday appeared confident that Greek banks will be able to pass upcoming stress tests successfully and said that the government was carefully examining a proposal by Piraeus Bank to acquire ATEbank and Hellenic...

Goldman Sachs says that Greek paper could surprise since better-than-expected economic performance and government austerity efforts may ware down fears over a potential Greek sovereign default, Dow Jones Newswires. It says that market consensus "remains extremely negative on the debt...

The German supermarket chain Aldi may be withdrawing from Greece, nearly twenty months after the operation of its first store in domestic market. The company’s decision to suspend the its expansion program in the Greek market should be considered certain,...

Hotelkeepers in Greece see some 9% downturn in revenues in 2010 after the 12% drop in 2009, News In informs. According to chairperson of the Greek association of hotelkeepers, Andreas Andreadis, the current and previous management of the Ministry of...

Piraeus Bank chairman Michalis Sallas on Thursday announced a proposal for the Group's acquisition of major stakes in Athens-listed ATEbank and TT Hellenic Postbank. Sallas announced Piraeus Bank Group's intention for a "simultaneous and coordinated" acquisition of a major 77.31...

The 13th and 14th salaries in the private sector will be preserved, «Ta Nea» informs. The national collective labor contract between the General Confederation of Greek Workers (GSEE) and employers, which will be signed on Thursday, envisages for the two...

Greece may return to the markets in 2011 given that conditions continue to improve, Finance Minister George Papaconstantinou told CNBC Wednesday. "All our reforms are on track," he said. "2011 will be a good year to come back to the...

Greece on Tuesday raised 1.625 billion euros in a debt auction, its first since getting bailed out in May, which attracted strong investor interest. The country's Public Debt Management Agency said the sale of 26-week treasury bills was oversubscribed...