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World’s Bankers Say Greek Bailout Risky

The powerful international bank lobby Institute of International Finance (IIF) has  warned that Greece's newly revamped bailout program still faces large risks as long...

Greek Red Tape Costs 14 Billion Euros

Greece's slow and burdensome bureaucracy is estimated to cost the cash-strapped country a total of 14 billion euros a year, ($18.26 billion) or 6.8%...

Fitch Downgrades Cyprus Debt to ‘BB-‘

Credit ratings agency Fitch has downgraded Cyprus deeper into junk territory by two notches to BB- and warned of further slides because of a...

ECB’s Asmussen: Greece to Need Aid Beyond 2014

Greece will need yet more international financial assistance beyond the agreed bailout programs through 2014, a European Central Bank board member said Sunday. The government...

EU Commission: Long Greek Recession Can End Next Year

Greece will enter its sixth year of recession in 2013 but will start to come out of it in the second half of the...

IMF Sees Greece Missing Debt Targets by 2017

Greece will miss the five-year debt reduction target that underpins the country΄s 130 billion euro bailout, according to forecasts released by one of its...

Greece to Stay in Recession for 6th Year, 2013 Draft Budget Shows

Greece's brutal recession is set to extend into a sixth year in 2013, when the economy will contract by another 3.8 per cent, according...

Greek House Prices to Fall by 17% Says Fitch

Over the next two years, Greek house prices are set to fall by a further 17% according to ratings agency, Fitch. Since 2009. prices have...

Bloomberg: Greece’s Highways are Smoother than its Finances

Cross the border to Greece from Bulgaria or Turkey and you move from narrow, potholed, lethal truck runs onto the wide and empty magic...

Greek Economy Shrank 7.5% in Fourth Quarter

"Available non-seasonally-adjusted data indicates that, in the 4th quarter of 2011, gross domestic product (GDP)...decreased by 7.5 percent in comparison with the fourth quarter...

Greek Economy Slumps Further In Fourth Quarter

Greece was plunging deeper into recession at the close of last year, documenting the devastation of the country's economy even before new austerity plans...

2011 Budget Deficit Seen At Around 10% Of GDP

The Greek government΄s budget deficit is expected to be equivalent to around 10% of gross domestic product this year, above an already revised target...

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