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Finances

Greece Borrows €1.5 Billion at Extremely Low Interest With New 10-Year Bond

Greece managed to tap €1.5 billion on Tuesday from global financial markets after it reopened its 10-year bond to take advantage of the new, extraordinarily low interest rates. According to reports, more than 5.4 billion euros were offered to Greece,...

Greece Expected to Tap Financial Markets With New 10-Year Bond

Greece will very soon seek to pump additional money from global markets in an effort to capitalize gains made on the historically-low interest rates that the country has been enjoying over the last several months. Greek authorities have requested the major...

Tourists in Greece Spend 16% More Money This Year Compared to 2018

According to the latest figures published recently by the Bank of Greece, tourists visiting Greece during the first half of 2019 spent an average of 15.9 percent more money than they had spent during the same period of 2018. This surprisingly good...

ESM Lauds Greek Economy's Achievements, Warns About Future Measures

The European Stability Mechanism (ESM) published its annual report for the year 2018 on Thursday. The European Institution praised Greece for its recent efforts strengthen the country financially, noting that 2018 was a landmark year for the country, mostly due...

Prime Minister Tsipras Warns ''Dark Days of Austerity Could Come Back''

Greek Premier Alexis Tsipras made a rare appearance at the entrance of Maximos Mansion on Thursday in order to respond to the European Commission's remarks about his government's decision to implement several relief measures. Tsipras went in front of journalists...

Greek State Budget Surplus Up by €1 Billion Compared to First Quarter of 2018

The Greek state budget recorded a primary surplus of €1.85 billion in the first quarter of 2019, up from a surplus of €840 million in the same period last year, the Bank of Greece said in a report released...

IMF Hails Greece's Recovery But Warns Risks Still Remain

The International Monetary Fund (IMF) published its first "Post-Program Monitoring Report" on Greece's economy on Tuesday, after the country's exit from the last bailout program in August, 2018. The report lauds Greece's progress regarding its economy, noting that ''the economic recovery...

Majority of Greeks Believe Nation is Still in Recession

According to a survey conducted by Nielsen in the third quarter of 2018, 72 percent of Greeks still believe that the country's economy is in recession, despite the official figures showing that the economy has been continuously growing since...

Greek Parliament Passes First Post-Bailout Budget

Following a long and politically fierce parliamentary debate, Greek lawmakers approved by majority the country’s 2019 budget at midnight Tuesday. This represents the first non-bailout budget for Greece after 2010. The budget was approved with 154 votes in favor and 143...

Major Tax Cuts and "Social Dividends" Announced in Greek Parliament

The Greek government announced Wednesday that the Uniform Real Estate Ownership Tax (ENFIA) will be significantly reduced for over 5.1 million property owners. In addition, the state will distribute a one-time payment to more than 1.3 million people as...