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Bank of Greece

Bank of Greece Describes Potential Exit from Eurozone as 'Natural Disaster'

The Bank of Greece describes a potential exit from the Eurozone as a nightmare for Greece. The Drachma would be followed by a currency devaluation of 65%, the country's inflation will rise up to 30% and unemployment rates will...

Greek Crisis Scaring Off Tourists, Numbers Fall 15%

ATHENS – One of Greece’s last, best hopes for surviving a deep economic crisis – tourism – is sinking under the weight of relentless stories of a country on the ropes, fears that it will abandon the euro for...

Bank of Greece: Economy to Shrink 5 pct in 2012

Greece's economy will contract by a steeper-than-expected 5 percent this year, the country's central bank chief said in a speech to the bank's shareholders on Tuesday. The central bank in March had forecast a 4.5 percent contraction in the economy...

German Treasure Found in the Bank of Greece

German Marks amounting to 14,334,000 euros were found in the Bank of Greece, a treasure forgotten for ages. 57 bags full of German notes have been mistakenly kept in the Bank of Greece. No employee, or even the Head of...

Collectible Euro Coins Issued by the Greek General State Accounts Office

The Greek General State Accounts Office will issue collective Euro coins. According to the Office’s planning, the following coins will be issued: 1. Collectible circulation 2 Euro coins in special packaging, dedicated to the 10 year anniversary of Euro transactions...

Greek Banks Join Fight to Find Tax Evaders

ATHENS – With Greece drowning in debt and most major tax evaders still on the loose – a $60 liability for the country – Bank of Greece Governor Giorgos Provopoulos has signed an act that will allow tax banks...

Deposits Rose in December After Three-Month Decline

Greek bank deposits by businesses and households rose in December for the first time since August as the country’s political outlook stabilized with the formation of an interim government under Prime Minister Lucas Papademos. Deposits increased to 174.2 billion euros...

Bank of Greece Reports 500,000 Greeks Have No Income

The Bank of Greece (BoG) has issued its interim monetary policy report, with the figures for the first six[...]

Papademos Said to be Greece’s Interim Leader Choice

ATHENS – With the political infighting over, Greece’s interim Prime Minister to head a coalition government to enable the country to keep getting critical international loans seems likely to be former European Central Bank (ECB) Vice-President Lucas Papademos. The...

Battered by Taxes, Greek House Sales Fall Off Fast

ATHENS – Greece's Deep Recession is taking another toll: on house sales. A new emergency property tax in a desperate attempt to raise money has pushed new home purchases down even further, with expectations as few as 50,000 homes...