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September Will be Crucial Month For Course of Greek Economy

September is considered to be a pivotal month for the Greek economy, regarding both budget figures and contacts with its European partners on the issue of fiscal targets and the implementation of reforms. The first important date is September 4, when...

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's Creditors Concerned over Scrapping of Counter-Measures for Tax-Free Ceiling Reduction

Greece's EU creditors see the cancellation of the counter-measures that were to accompany the scrapping of the reduction of the tax-free ceiling as problematic, a Kathimerini report says. The aim of the reduction of the tax-free ceiling measure that was...

Greece Challenges Creditors as PM Tsipras Vows to Lower Surplus Targets

Greece's European creditors reminded the Greek government of Alexis Tsipras that it has agreed to a primary surplus of 3.5 percent from 2020 to 2022. Their remarks were made after the Greek premier on Tuesday set the country's annual...

Greece's Creditors "Concerned" About Minimum Wage Hike

Greece’s creditors expressed deep concern on Thursday over the recent decision by the government to increase the minimum wage by 11 percent, according to reports. "Not even the Greek experts had proposed a minimum salary hike of 11 percent," an...

Creditors Leave Athens Without Plan for Settling Tax Debt

The Greek government did not present their plans for settling tax debt in 120 installments during negotiations this week in Athens with their creditors' representatives. The creditors’ representatives will leave Athens with incomplete information for the second post-bailout assessment, which is...

EU to Decide How Greece's Primary Surplus Should be Used

Greece's budget for 2019 will be assessed by creditors who will decide how the surplus will be spent, Eurogroup President Mario Centeno announced on Monday. Centeno, speaking at a press conference after the meeting of eurozone finance ministers, said that...

Greek Government to Table Budget Draft Without Pension Cuts

Greece's Finance Minister Euclid Tsakalotos The Greek government on Monday is to table in parliament the 2019 budget draft leaving out the pension cuts that have been agreed with creditors to go into effect January 1st. According to a government source,...

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...

Standard & Poor's Upgrades Greece's Credit Rating to B+

Standard & Poor's (S&P) ratings agency has upgraded Greece's credit rating by one notch, from 'B' to 'B+' According to the Associated Press, S&P said Greece's debt risks are now reduced following last week's decision by the country's international creditors to...