debt
Economy
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...
Economy
Greeks Owe More Than €104 Billion to the State, Official Data Reveals
The latest figures published last week by Greece’s Independent Authority of Public Revenue (AADE) revealed that unpaid taxes to the Greek state now amount to the staggering sum of €104,365 billion.
This massive figure highlights Greece's problem with tax evasion,...
Cyprus
Cyprus to Tap Markets With its First-Ever 30-Year Bond
Cyprus has mandated investment banks to manage a double bond issue comprising a 5-year and a 30-year, euro-based bonds, the country's Ministry of Finance announced on Tuesday.
This will be the first time Nicosia will borrow money on the international...
Economy
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...
Economy
Officials Warn Greece Might Not Get EU Cash After Reform Delay
Eurozone officials warned on Monday that Greece is on the brink of missing out on the first installment of approximately €750 million from the debt-relief scheme that was agreed on a few years ago.
The Greek government has significantly delayed the implementation...
Economy
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...
Economy
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...
Economy
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...
Cyprus
Cypriot FM Georgiades: Growth Expected to Exceed 3 Percent
The economy of Cyprus is expected to grow more than 3 percent over the next three years, according to Cypriot Finance Minister Harris Georgiades during his presentation of the state budget for 2019.
Georgiades stated that higher education, as well...
Economy
ELSTAT: Greek GDP Rises by $4.2 Billion in 2017
According to the final figures for 2017 released by Greece’s Statistics Authority (ELSTAT), Greek GDP increased by €3.75 billion ($4.20 billion). This increase is attributed to economic growth in Greece during 2017.
Specifically, the Greek GDP rose from €176.48 billion...