Economy
Economy
Government Introduces Boarding Fee for Cruise Ships
The Greek government has introduced a boarding fee for cruise ships operating under non-community flags seeking to operate in the Greek sea area. The approval was signed by the Greek Minister of Maritime Affairs, Islands and Fisheries Yiannis Diamantidis....
Economy
Greece Will Sell Stakes In State Companies
The Finance Ministry stated on Thursday that Greece will sell stakes in state run companies this year in the 2011 budget, as reported by AFP.
The assets the debt laden state may sell is a 49% share in one of the...
Economy
Budget: Greece Gets Ready For More Austerity in 2011
Greek government Thursday tabled in the nation’s parliament its 2011 Budget that “continues agressive fiscal consolidation effort,” the Ministry of Finance said.
The aim is to reduce the deficit by 5 billion euro to 7,4 % of GDP in 2011...
Economy
Government Finalized 2011 Budget Plan
The Greek government finalized decisions over a 2011 budget plan after a meeting between Finance Minister George Papaconstantinou and EU-ECB-IMF Troika officials in Athens on Wednesday. The meeting was attended by Lucas Papademos who is a former European Central Bank...
Economy
European Commission Sets January 12th Deadline for Olympic & Aegean Airlines Merger
The European Commission is still looking for suitable remedies from Greek airlines Aegean and Olympic before deciding whether to clear their merger, an EU executive said on Wednesday, Reuters reports.
"We are finding some difficulties, we are in contact with...
Economy
Eurogroup: Greece Must Take All Required Economic Measures
Greece’s programme is broadly on track, but following the revision of its debt and deficit figures for 2009 by Eurostat, the debt ridden country will need to take all the required measures in 2011 to bring its deficit down...
Economy
Austrian Finance Minister: Greece Will Receive Next EU Bailout in January
Austrian Finance Minister Josef Proell said on Wednesday that Greece will receive its next tranche from the EU-backed bailout package in January instead of December, Reuters reports.
Referring to talks on Tuesday night in the Eurogroup that focused on Ireland,...
Economy
Greece Successfully Auctioned 3 Month Treasury Bills Issue
Greece successfully auctioned a three-month treasury bills issue raising 390 million euros from the market today. The Public Debt Management Organisation accepted bids totaling 300 million euros and non-competitive bids totaling 90 million euros, although at a higher cost....
Economy
Greek Fin Min: No Comment On Austria's Warnings On Aid
Greek Finance Minister George Papaconstantinou refused to comment Tuesday on reports that Austria might withhold its contribution to the country's E110 billion aid deal.
"I will not comment on the specific comments," Papaconstantinou told reporters as he arrived for the...
Economy
Greece’s 2009 Budget Gap Hits 15.4% Of GDP, Eurostat Says
Greece’s 2009 budget deficit hit 15.4 of GDP, revised data provided Monday by Eurostat showed.
The previous notification was at 13.6% of GDP
The country’s government debt for the same year reached 126.8% of GDP, versus a previous estimate of 115,1%.
Eurostat...
Economy
Greeks Look to Turkey for Employment
The job search is no longer confined to Western Europe and now includes Turkey. Dozens of requests from jobless Greeks are being sent to the Greek Consulate in Istanbul each week. Applications are also being made at the Greek-Turkish...
Economy
Greece Sells 390 MLN Euro 6-month Bonds, Rates Rise
Greece has today issued six-month state bonds worth 390 million euros at a yield up 28 base points compared to the previous auction in October. The news was released by Reuters, which quoted the agency for Greek debt management...
Economy
Greek Finance Minister Rules Out Debt Restructuring
Greece is not mulling restructuring its debt while the regional elections that took place on Sunday proved the government has the support it needs to go through with its fiscal reform, the Finance Minister said according to Reuters.
"We have...
Economy
Auction of 6 Month Treasury Bill on November 9th
Greece will auction a six-month Treasury Bill issue on Tuesday, November 9th. It seeks to raise 300 million euros from the market.
The T-bill issue will have a maturity date of May 13th, 2011, while the settlement date was set...
Economy
EU Demands Greece to Repay 347.5 Million Euros Wrongfully Spent
Athens has been given a rude awakening by the EU. Greece will have to repay the European Commission 347.5 million euros that were wrongfully spent, against the rules of the common agricultural policy. The announcement came today from Brussels,...