Economy

Finance ministers from the 17 countries that use the euro approved the payment of Greece’s next batch of bailout loans Friday, avoiding a potentially disastrous default, but acknowledged the country’s debt remained too high. Greece’s debts are only one piece...

Greek debt can be brought down to near 120 percent of gross domestic product by the end of 2020 if private investors forgive 50 percent of what Athens owes them, a report by international inspectors on Greek debt sustainability...

Tourism and exports are the only sectors of the Greek economy that are managing to deliver any positive news during the general crisis in the country this year, as daily Kathimerini reports today. Bank of Greece data for the...

Greece should declare itself insolvent and carry out a real restructuring of its debts in order to win back the confidence of markets, Martin Blessing, chief executive of Commerzbank, said in an interview published Friday. "Greece needs a haircut," or...

Chief Appeals Court Prosecutor Spyros Mouzakitis has launched an investigation into the circumstances surrounding the recent resignation of Diomidis Spinellis, the General Secretary of Information Systems at the Finance Ministry, who was said to have quit because fines imposed...

The Greek crisis may well be remembered in the future as the best success story of the euro, said Italy's former EU Commissioner and president of Bocconi University, Mario Monti, speaking at the launch event of EurActiv Italy. According to...

A massive restructuring of Greek debt, that will mean a deeper cut for private-sector investors, looks a lot more likely after the so-called troika of international inspectors in its latest report on Greek economic reforms concluded that Athens' public-sector...

Draft conclusions for a crucial summit of European leaders suggest that a second rescue package for Greece may not be agreed until the end of November. The draft statement prepared for Sunday's summit and obtained by The Associated Press says...

Greece will get back to levels of economic output recorded in 2009 within two to three years, economy minister Michalis Chrisochoidis says in an interview to be published Thursday, although it will take around 10 years for the country...

While Greece's historical tendency to high-indebtedness is notorious, with its first recorded default in the fourth century BC and more in the late 19th and early 20th century, it is less well known that Germans have come to Athens'...

In view of the voting on the new tax legislation bill in parliament tomorrow, Secretary of World Council of Hellenes Abroad (SAE) Dr. Olga Sarantopoulos has sent a letter to Finance Minister Mr. Evangelos Venizelos asking him to exempt...

As Greek political leaders continue to insist the country will not default on its loans and will return to profitability by the end of next year, a Bank of America Merrill Lynch survey of global fund managers indicates that...

Switzerland is open to negotiations with Greece over tax matters, the Financial Times Deutschland reported Wednesday citing a government spokesman. A preliminary meeting will take place next week, the spokesman said. A tax treaty with Switzerland could bring Greece billions of...

Vice President of Nea Dimocratia political party, Dimitrios Avramopoulos met with Greek businessmen in New York during his last visit in the USA. The meeting was organized by the Chairman of the Red Apple Corporation John Katsimatidis , according to...

Several French companies are interested in Greece’s state-asset sale program and pending state contracts, Ta Nea reported, without citing anyone. Francaise des Jeux wants to bid for licences to operate state lotteries and to extend the EuroMillions game to Greece...