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Greece

April 23, 2010: Greece Enters Decade of Bailouts and Austerity

On April 23, 2010, Greece entered the bailouts era by asking its EU partners and the IMF to rescue its economy that went bankrupt. The dramatic call for help was made from the tiny Aegean island of Kastellorizo by the...

EU Commission Says it "Will Remain by Greece's Side'' One Year After Bailout Exit

The European Commission issued a statement on Tuesday on the occasion of the one-year anniversary of Greece officially exiting its bailout programs after its eight-year-long financial crisis. ''Today marks one year since Greece successfully concluded its European Stability Mechanism (ESM)...

Greece Opens Books For New 7-Year Bond, Third Time Since Bailout Exit

Greece opened its books for a new 7-year bond on Tuesday morning. The new Conservative government aims to earn approximately €2.5 billion, in an effort to capitalize the recent sharp decline in the country's interest rates. The initial estimates suggest that...

Greece's Creditors say No Changes in Bailout Program Terms for New PM

Greece’s creditors have said no to calls from the country’s new conservative government to ease harsh budget conditions agreed as part of its rescue program, AP reports. New Democracy leader and Greece's new Prime Minister Kyriakos Mitsotakis was elected after...

Greece Heads to Polls in the First Post-Bailout General Election

Greek voters cast their ballots on Sunday in the country's first national election of the post-bailout era, with leftist Prime Minister Alexis Tsipras's SYRIZA party expected to be ousted by the conservative opposition. A trio of opinion polls on Friday...

Investors' Calls for Compensation Over Greek Bailout Rejected by EU Court

The European Union's General Court made public on Thursday that the private investors who wished to be compensated for the losses they endured during the Greek bailout of 2012 will not receive any compensation. The individuals who had held sovereign...

Post-Bailout Greeks Once Again Traveling Abroad for Christmas

According to data published by FedHATTA, the Federation of the Hellenic Associations of Tourist and Travel Agencies, the number of Greeks who choose a destination abroad instead of Greece for their Christmas vacations is booming again, following a significant...

Greek Parliament Passes First Post-Bailout Budget

Following a long and politically fierce parliamentary debate, Greek lawmakers approved by majority the country’s 2019 budget at midnight Tuesday. This represents the first non-bailout budget for Greece after 2010. The budget was approved with 154 votes in favor and 143...

Greeks Pessimistic About Their Finances After Bailout Program

Seven out of ten Greeks foresee no change whatsoever in the course of the economy and their personal finances after the end of the bailout program, a new survey shows. The research was conducted by PULSE on behalf of the...

EU: Greece has Not Implemented 16 Bailout Program Prerequisites

File photo: Greece's Ministry of Finance The European Commission is urging Greece to proceed with 16 prerequisites that have to be completed by the end of the year, as agreed with creditors. The first report after the end of the bailout...

Greece Presents First Post-Bailout Budget; Awaits EU Approval

The Greek government on Wednesday tabled the first budget drawn up since the country exited the bailout era last August. The 2019 budget projects a GDP surplus of 3.6 percent, against a target of 3.5 percent, and a growth rate...

German Press: Greece Will Likely Need Another 'Bailout' Due to High Debt

Due to its high public debt, it is doubtful whether Greece will make it on its own in the long run without new financial support, a report by Frankfurter Allgemeine Zeitung says. This report comes after a comment made by...

Creditors Begin the First Post-Bailout Audits in Greece

Representatives of Greece's international creditors -- the European Union and the International Monetary Fund -- arrived in Athens on Monday for the scheduled audits of the Greek economy in the post-bailout era. The technical teams of the European Commission, the...

First Post-Bailout Poll Gives New Democracy 10.9% Lead Over SYRIZA

The first major opinion poll since the completion of the third -- and final -- bailout program shows a steady lead of 10.9% for the main opposition New Democracy over the ruling SYRIZA-led government. The poll, conducted by Marc on behalf of...

Greek PM Tsipras Promises Tax Cuts, Dividends and Growth in Post-Bailout Greece

Prime Minister Alexis Tsipras on Saturday announced that his administration is planning to stop tax cuts, offer more social dividends and raise the minimum wage in post-bailout Greece. The Greek prime minister spoke during the opening of the annual Thessaloniki...