Greece

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Greece Seen Needing Third Bailout as Bonds Insufficient

Greece’s return to bond markets after a four-year exile hasn’t convinced economists it can avoid a third bailout. Six out of 10 economists in a Bloomberg News survey said Greece will need to top up the 240 billion euros ($325 billion) of loans received f ...

Daily Headline - global.abi.org - 07/20/2014 - 17:49 - 0 comments

Greece Beats Primary Budget Target

Greece has beaten its target for its primary budget surplus for the first six months of the year, data from the Finance Ministry showed Monday, The Wall Street Journal reported. In a statement, the ministry said the primary budget surplus, which does ...

Daily Headline - global.abi.org - 07/14/2014 - 19:55 - 0 comments

Greek Jobless Rate Still Over 27%

government and its international creditors forecasting an annual expansion rate of 0.6% this year. Read ...

Daily Headline - global.abi.org - 07/10/2014 - 23:04 - 0 comments

Greece Resists Troika on Third Bailout as Draghi Protests Delays

Greece fought off calls to consider a third bailout as European Central Bank President Mario Draghi warned that the pace of economic fixes is slowing, officials said after euro-area finance ministers met yesterday, Bloomberg News reported. Greece has rul ...

Daily Headline - global.abi.org - 07/07/2014 - 23:07 - 0 comments

Selonda Aquaculture Forced To Go Into Receivership

Thirty-three years after its foundation and having been one of the Greek fish-farming sector’s biggest players, Selonda Aquaculture SA is about to pass into the hands of its creditors, ekathimerini.com reported. After months of negotiations with banks an ...

Daily Headline - global.abi.org - 07/02/2014 - 23:10 - 0 comments

Eurozone to Veto Core Program Changes

Greece’s creditors will not accept any changes to the core of the country’s streamlining program, only limited peripheral fine-tuning, as is the case during every assessment of the program, according to a top eurozone official in Brussels, ekathimerini.c ...

Daily Headline - global.abi.org - 06/16/2014 - 22:30 - 0 comments

Leader in Austerity Push Appointed Head of Greek Central Bank

The next governor of Greece’s central bank will be Yannis Stournaras, a Greek economist and former finance minister who led a two-year austerity drive that stabilized the economy but fueled a social crisis, the International New York Times reported. ...

Daily Headline - global.abi.org - 06/11/2014 - 20:43 - 0 comments

Greece’s Top Tax Collector Leaves Under Pressure

Greece’s senior tax collection official left his job on Thursday in a development that prompted the European Commission to express “deep concern”, the Financial Times reported. Haris Theoharis, secretary-general for public revenue, said he was steppi ...

Daily Headline - global.abi.org - 06/05/2014 - 22:47 - 0 comments

As Greece Emerges From Recession, Focus Shifts To Reducing Massive Debt

Greece is far from saved. The recovery is weak and poverty is endemic. Greece, Greek Finance Minister Yannis Stournaras says, needs one more big fix: A great bleeding chunk of flesh needs to be taken out of its mammoth debt load, equivalent to 170 per ce ...

Daily Headline - global.abi.org - 06/02/2014 - 21:45 - 0 comments

Schäuble Says Third Greek Bailout To Be Less Than €10 Billion

German finance minister Wolfgang Schäuble reckons a third bailout for Greece will be less than €10 billion, significantly smaller than each of the previous aid packages, German magazine Focus has reported. Greece was cut off from markets in 2010 as the t ...

Daily Headline - global.abi.org - 06/01/2014 - 21:19 - 0 comments

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