bailout
Greece
Greek Workers Confederation Calls General Strike for November 12
The General Confederation of Greek Workers (GSEE) decided a general strike for November 12. This is the first strike against the new recessionary measures the leftist government is imposing.
The security fund reforms that will bring major pension cuts and...
Economy
Creditors Return to Greece to be Briefed on Progress of Reforms
Mission chiefs of the quartet of Greece's international lenders will visit Athens briefly on Tuesday to be briefed about the progress of reforms, following the parliamentary approval of the legislation last week.
Delia Velculescu from the International Monetary Fund, Rasmus Rueffer from...
Economy
Greek Farmers Ready to Rally Protesting Tax and Security Fund Reforms
Greek farmers and stockbreeders will demonstrate massively against the new taxes imposed on them, threatening that they may even block national highways before Christmas.
The PanHellenic Coordinating Committee of Farmers' Blocs convened in Larissa on Sunday and decided to start protest...
Economy
Delay in Reforms Implementation by Greek Gov't Might Stall Loan Tranche
Despite the fact that the omnibus bill, which includes austerity measures agreed upon with Greece’s creditors was voted on during yesterday’s plenary session, only 30 percent of prior actions required by the bailout program have been legislated.
Now the finance...
Economy
Greece's Big Challenge to Fix Bad Loans Without Destroying Banks
The big challenge for Greece's Prime Minister Alexis Tsipras is to fix the bad loans situation without destroying Greek banks, according to a New York Times report.
The nonperforming loans issue is so thorny that the Greek government did not...
Economy
Omnibus Bill of Bailout Prior Actions Tabled in Greek Parliament
The Greek government is to table in parliament on Monday an omnibus bill containing bailout required prior actions in order to pass the first review and receive a 2-billion-euro loan tranche.
The voting of the bill will take place on...
Economy
Hidden €8 Bln Deficit in Security Funds Threatens to Blow Greek State Budget
A hidden deficit of 8 billion euros is threatening to blow Greece's social security funds as more than 300,000 retirees have their pension applications pending.
Furthermore, the deficit may throw off the 2016 state budget, as the total expenditure for...
Economy
Eurozone to Cap Greek Debt Servicing at 15 pct of GDP
Eurozone governments agree that debt relief for Greece should be accomplished by capping its debt servicing costs at 15 percent of gross domestic product, Reuters says.
Eurozone President Jeroen Dijsselbloem, said on Thursday that debt easing can be discussed only after...
Economy
A Tough Month for the Greek Government Ahead of First Review
The Greek government has the urgent task to legislate and start implementing the prior actions required by the bailout program in order to be ready for the first review on November 15.
Two packages of unpopular measures need to be...
Economy
IMF: Greece Might Need More Measures to Cover Primary Deficit
Greece might need additional measures as 2015 will end with an estimated 0.5 percent primary deficit instead of the required 0.25 percent, says an International Monetary Fund report.
According to the recent Fiscal Monitor, an IMF report on international economy, Greece...