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Greek Finance Ministry

1Bln-Euro Revenue Shortfall in January

The Greek Finance Ministry is having trouble accumulating the necessary state revenues after the major 1-billion-euro shortfall that was recorded in January 2015. Furthermore, a top government official noted that the expected fiscal gap for the period 2015-2016 will...

Finance Ministry Cleaners' Reinstatement Suspended

Some 400 public sector cleaning employees were suspended in September 2013, as part of the availability measures implemented by the government, and were dismissed nine months later. The Greek Supreme Court has postponed the hearing of the cleaning staff’s...

Greek Finance Ministry to Extend Settlement Scheme to Debts Expiring Dec. 31, 2014

The Greek finance ministry on Friday announced that a new measure for the settlement of overdue debts to the state will include debts whose due date expired on December 31, 2014. The ministry has also announced that the new settlement...

Greece Faces 1-Bln-Euro Tax Shortfall in January

Greek tax revenue in January 2015 was one 1 billion euros short of reaching the expected target (23%), causing a major setback for the newly elected government. According to Finance Ministry data, Greece only had 3.49 billion euros in tax revenue in...

ECB to Provide €60 Billion in Emergency Funding to Bank of Greece

The European Central Bank will allow Bank of Greece to provide as much as 59.5 billion euros in emergency funding for the country's lenders, an ECB official familiar with the decision said in a Bloomberg report. The measure is needed...

New Greek FinMin Varoufakis: Growth Doesn't Mean Porsche Cayennes

A chance to preface the policy he intents to apply as Greece's new Finance Minister had earlier today Giannis Varoufakis in the ceremony assuming his duties. While in the Greek government's financial headquarters, Varoufakis exchanged opinions with his predecessor, Gikas...

New Greek Finance Minister: Bailout a Vicious Cycle

"The problem with the bailout is that it wasn't really a bailout," Giannis Varoufakis told Bloomberg on Monday, a day before he was sworn in as Greece's new Finance Minister. The 53-year-old economics professor who is now an official member of...

German Govt Refuses 11 Billion Euro Debt over Nazi Occupation Loan to Greece

The spokesperson for the German Ministry of Finance, Martin Jager, during a public appearance yesterday ruled out the possibility of a Greek debt haircut. While commenting on scenarios on an electoral win of Greek main opposition party, SYRIZA, he...

SYRIZA Will Need EU/IMF Approval to Use T-Bills, Fin Min Says

SYRIZA will need EU/IMF approval to use Treasury bills to cover Greece's funding needs, if the leftist party comes to power, the Ministry of Finance said on Monday. This comes as an answer to Alexis Tsipras, the party leader, who...

Germany Owes Greece 11 Billion Euros From the Nazi Occupation Loan

Germany owes the impressive amount of 11 billion euros to Greece, solely due to the forced occupation loan taken by the Nazis during World War II and which remains unpaid until today, a new official Greek report, handed to...