Ministry Of Culture & Tourism Launches “Green Tourism” Programme

Subsidies for “green” hotels would reach 45%, according to an announcement by the Ministry of Culture and Tourism.  The department stated this on the occasion of...

Greece’s IMF Rep. Claims Extension of Repayment Period Approved

Greece's representative to the International Monetary Fund (IMF), Panagiotis Roumeliotis, on Friday was quoted.  He stated that the Washington D.C based institution has essentially...

Government Allocates 100 Million Euros for Export Firms

The Greek government will create the special fund ''Go 2 Market'', which will have an initial capital of 100 million euros. It is meant...

Fitch Places Major Greek Banks on RWN

Fitch Ratings said it placed the long-term ratings of major Greek banks on rating watch negative (RWN), after placing Greece’s sovereign rating also on...

Scrapped Bonuses Means Fewer Greek Gifts

Twice as many Greeks as last year say they have no additional income to spend over the holiday period, Kathimerini reported, citing a survey...

Greek Parliament Passes Austerity Budget Amid Protests

Greek lawmakers approved the 2011 budget in the early hours of Thursday amid ongoing strikes and protests by labor unions over painful austerity measures...

Government Ridicules Return to Drachma Currency

Government spokesman Giorgos Petalotis on Tuesday again dismissed the prospect of early elections.  He also ridiculed a return to the drachma currency, speaking to a...

Minister Of Finance Asks Listed State – Controlled Firms To Cut Wages

Greek government is pushing state-controlled companies, listed in Athens Exchange, to cut their wages in line with recent legislation for other state-controlled companies, according...

Fitch Puts Greece On Review for Possible Downgrade

Ratings agency Fitch said Tuesday it has placed Greece's 'BBB-' long-term foreign and local currency Issuer Default Ratings (IDR) on Rating Watch Negative (RWN)...

Athenian Merchants Call for Suspension of Public Transport Strikes

Merchant groups on Monday called for the suspension of public transport strikes in the greater Athens area.  They want to allow shoppers easier access to...

Gov’t Proceeds with 20% Cut Of Hospital Debts

Greek government proceeds with the cut of hospitals’ debts to pharmaceutical companies and suppliers, according to Capital. Minister of Health, Andreas Loverdos proposed the...

Greek Stocks Post Heavy Losses

The potential revision of Greece’s rating by Fitch jitters the Greek market on Monday, pushing the Banking Index lower by 4.1% and the General...

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