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IMF maintains tough stance as Greek talks continue

By   /  23/03/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  No Comments

  Top International Monetary Fund (IMF) official, Poul Thomsen, slammed the Greek taxation system stressing that over fifty percent of salaried employees do not pay their taxes. Speaking to students at a UK University, Thomsen reiterated the Fund’s view that the Greek tax base must be broadened, primarily by slashing the income tax-free threshold. The […]

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Greek opposition under pressure to sign up to more austerity

By   /  22/03/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  No Comments

  Political upheaval was caused in Athens after scenarios emerged that Greece’s creditors want main opposition New Democracy party to commit to the implementation of reforms in the post-bailout program period. According to reports in local media, the government was thought to be contemplating to call for the ratification of any agreement on new measures […]

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Creditors up pressure on Athens 

By   /  21/03/2017  /  Finance, GR Finance, GR Politics, Greece, Headlines, Politics  /  No Comments

  As talks between senior Greek government officials and the country’s creditors continue in Brussels in search of an agreement for the conclusion of the ongoing program review, German Finance Minister Wolfgang Schaeuble sent another strong message to Athens. Speaking on the sidelines of an Ecofin meeting on Tuesday – one day after a fruitless […]

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Tsipras: Greek tourism constantly on the rise

By   /  21/03/2017  /  Business, Finance, GR Business, GR Finance, Greece  /  No Comments

  I got the impression that the programme review is on track to conclude, the president of the Greek Tourism Confederation (SETE) Andreas Andreadis on Monday said after a meeting with Prime Minister Alexis Tsipras at the Maximos Mansion. Asked if he discussed it with the prime minister, he said that Tsipras is optimistic that […]

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MFA to present Greece’s investment potential to foreign diplomats

By   /  20/03/2017  /  Business, Finance, GR Business, GR Finance, GR Politics, Greece, Politics  /  No Comments

  The foreign ministry will present Greece’s potential in attracting foreign investments to foreign diplomats in a briefing at the ministry on Wednesday, a ministry press release said. The aim of the briefing, organized by the ministry’s General Secretariat of International Economic Relations and the Secretariat for Strategic and Private Investment, is to showcase the […]

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Agreement elusive at Eurogroup; talks to continue

By   /  20/03/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  No Comments

  There was no breakthrough at the Eurogroup meeting held on Monday, with Athens and creditors still in disagreement over the measures required to conclude the ongoing program review. It is unknown when the “quartet” of creditors will return to Athens for direct talks while local media reports suggest that an informal deadline for an […]

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Low expectations ahead of Eurogroup meeting

By   /  19/03/2017  /  Finance, GR Finance, GR Politics, Greece, Politics  /  No Comments

  Greek Finance Minister, Euclid Tsakalotos, will attend a Eurogroup meeting on Monday with a view to making progress towards the conclusion of the ongoing review of the country’s bailout program. According to latest information, Eurozone Finance Minister go into Monday’s meeting with low expectations hoping to agree a timeframe for the return of the […]

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Greek “debt trap” pushing it to brink of another financial crisis

By   /  15/03/2017  /  Finance, GR Finance, GR Politics, GR Social, Greece, Politics, Social  /  No Comments

  The Budget Office of the Hellenic Parliament released a report on Wednesday which highlights the need for Greece’s debt issue to be addressed. The 5th Interim Report titled “The Debt Trap” stresses that Greece is in need of “serious restructuring of its debt” that will be accompanied by implementation of crucial reforms related to […]

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Greek program to top agenda of Monday’s Eurogroup meeting

By   /  14/03/2017  /  Finance, GR Finance, GR Politics, Greece, Headlines, Politics  /  No Comments

  The review of progress made in the implementation of the Greek bailout program is high on the agenda of a Eurogroup meeting of Eurozone Ministers of Finance that is schedule for Monday 20 March. “The Eurogroup will examine the latest developments regarding the second review” a statement reads. The European Commission spokesperson for Economic […]

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Confusion over implementation of countermeasures

By   /  14/03/2017  /  Finance, GR Finance, GR Politics, Greece, Headlines, Politics  /  No Comments

  Eurogroup chief Jeroen Dijsselbloem told Dutch parliamentarians during a briefing last week that Greece will be able to apply so called countermeasures to offset austerity only if it has hit set primary surplus targets. Specifically, he said “the measures to boost growth will be discussed at the Eurogroup. These can be used when there […]

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