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Greece

Pension Cost in Greece Reaches 16-Year High at €28 Bln Annually

As the number of pensioners in Greece increases rapidly, pension costs reach a 16-year high at 28 billion euros per year. While creditors press for pension cuts and a stop to early retirement, the cost of pensions puts security funds...

German FinMin: Greece Has Until End of June to Reach Deal

German Finance Minister Wolfgang Schaeuble said "the financial assistance program to Greece will expire on June 30, this is the deadline given to Greece." Schaeuble spoke on Friday in a news conference following a meeting of finance chiefs of the...

Greek FinMin Varoufakis: There Will Only Be One Good Agreement

There will only be one good agreement...this negotiation has dragged on enough...it will include the pension system, labor market and the public debt," Greek Finance Minister Yanis Varoufakis said on Friday. In a radio interview, Varoufakis said there was convergence in...

SYRIZA MP: Greece Is Prepared for All Possible Scenarios

SYRIZA Parliamentary Spokesperson Nikos Filis said that Greece is seeking a deal with lenders but is also prepared for all possible outcomes in negotiations. Filis spoke to Mega television on Friday saying that the government is taking all precautions to...

562 Years Since the Fall of Constantinople: The End of an Empire [VIDEO]

The fall of Constantinople was the result of a three month siege by the Ottoman army, led by Sultan Mehmed II. At the time, Emperor Constantine XI Palaiologos was the  ruler of the Byzantine capital. The siege lasted from April...

Crete: 6 People Injured by Lightning in Knossos

It all started at 9:30 am on Friday, May 29, when lightning struck six Russian tourists who were on a tour around the archaeological site in Knossos, Crete. One woman was seriously injured, while the others were caught off guard...

European Commission: Time Is Running Out for Greece, No Progress in Negotiations

Greece is seeking a political solution to the financial aid problem as negotiations on a technical level are progressing very slowly and Brussels warn that time is running out. On Thursday's Euro Working Group (EWG), European Commission officials said that...

Greek State Minister: There Will Be an Issue of Party Discipline

Greek State Minister Nikos Pappas, in an interview to thepressproject.gr late on Thursday, expressed his optimism over a mutually beneficial agreement with the country's partners. He stressed the need to conclude the negotiations as soon as possible and left the possibility open...

National Bank of Greece Reports Losses in Q1‏

National Bank of Greece (NBG) reported losses of 159 million euros in the first quarter of 2015, integrating domestic losses of financial results worth 112 million euros. Commenting on the results, NBG CEO Leonidas Fragkiadakis said: “Against strong headwinds, which...

36 Years Ago Today Greece Entered the European Union [Video]

It was 36 years ago today when Greece's Prime Minister Constantine Karamanlis was putting his signature to the historic Treaty of Accession to the European Economic Community, as the European Union was called at the time. It was May 29, 1979,...