debt
Business
Athens Ledra Hotel Shutting Down, Staff Unpaid and Guests Turned Away
The Greek capital's Athens Ledra Hotel is shutting down as new arrivals are being turned away and guests already in the hotel are being relocated to other units in a rush to empty the hotel by Wednesday. Workers say...
Economy
ESM Has Favourable Lending Rates For Countries Like Greece
The European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF) have the current low interest rates with some long-term bond issues in recent month's bonds, in favour of Greece, the ESM’s Secretary General Kalin Anev Janse said...
Economy
Obama: Greek Debt Crisis Has Eased but More Work Still Needed
U.S. President Barack Obama said that the Greek debt crisis has "eased" during his meeting with reporters on the sidelines of the G7 summit in Shima, central Japan. "The fact that the Greek debt crisis has been resolved for...
Economy
Eurogroup Highlights: An All-Night Thriller as Greek Debt Almost Divided Europe
Eurozone ministers locked horns for almost twelve hours at Eurogroup discussions aimed at unlocking the next tranche of bailout money for Greece. Athens entered the meeting hoping to receive an 11-billion-euro tranche of bailout funds in the second installment of...
Greece
Phone Conversation Between Alexis Tsipras and Francois Hollande
Prime Minister Alexis Tsipras spoke on the phone with French President Francois Hollande on Friday afternoon, discussing the negotiations underway and ways to ease the Greek debt ahead of next Tuesday's Eurogroup, a government announcement said.
In addition to their talks about...
Greece
65-Year-Old Woman Reduces her Debt by 85%
The Local Court of Vamos has decided to reduce a 65-year-old woman's debt by 85%. The woman, who could not manage to repay her 26,000 euro debt, referred to the Cretan Consumers Union and managed to fall under the...
Economy
IMF Says Greek Debt Explosion to 293.8% of GDP by 2060
The International Monetary Fund's (IMF) analysis, presented by Bloomberg, states that Greek debt will soar to 293.8 percent of its GDP by 2060 if there is no debt relief. Statements point to an agreement possible at the Eurogroup meeting...
Business
Slim Chances of Large Tranche Disbursement for Greece on May 24
Expectations for the disbursement of a large tranche for Greece are being lowered just a week ahead of the Eurogroup meeting of Eurozone finance ministers in Brussels on May 24. A European official said that the first packet of...
Economy
U.S. Treasurer Jack Lew Repeats Calls for Greek Debt Relief
U.S. Treasury Secretary Jack Lew reiterated the position of the United States on easing the Greek debt burden on Friday, a week before the G7 meeting at Sendai, northeast of Tokyo, Japan, on May 18-20.
Lew maintained that demands of...
Business
Stournaras: Eurogroup Deal on May 24 Could See Lifting of Capital Controls
Bank of Greece Governor Yiannis Stournaras said that capital controls will be lifted if a deal is made at the Eurogroup on May 24. He said that an agreement between Greece and its creditors would herald an end to...