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Euro zone

Tsipras Urges Italy to Follow EU Rules

Greek Prime Minister Alexis Tsipras has urged the Italian government to adhere to EU  demands to lower the country's deficit, according to the Corriere della Sera newspaper. In a story titled "Tsipras' advice to Italy: Give in now -- later...

Greece at Bottom of Eurozone Growth Rate

Greece's growth was the lowest among eurozone countries for 2017, with a GDP rise of just 1.4 percent while the eurozone average was 2.3 percent, according to European Central Bank figures. The ECB annual report released on Monday showed Ireland...

EU Official: Debt Relief Means Extended Supervision for Decades

"Whoever wants debt relief, extended for decades after the end of the program, must have tighter supervision," a high-ranking EU official warns Athens, according to  German newspaper Süddeutsche Zeitung. "The Brussels goal is to reach a political agreement on the...

Eurogroup Asks Greece to Complete All Prerequisites, Welcomes Overachievement of Fiscal Goals

The meeting of euro zone finance ministers was completed on Monday, with peers urging Greece to legislate the remaining prerequisites for the completion of the third review of the bailout program. Greece has still to complete 15 of 110 required...

German Experts: Growth in Eurozone and Greece Under Conditions

According to the annual report of the German Council of Economic Experts; there will be growth in the eurozone and in Greece, but only under conditions. The 460-page report was presented to the German government and predicts a 2.0% growth in...

Greeks Consume 40% Less than Euro Zone Average

Consumer spending in Greece has declined by 36 billion euros in seven years, with  the annual nominal consumer spending per capita in Greece being 12,940 euros, compared to the 21,413 euros of the euro zone average, according to Eurostat. Private...

Former German FinMin: I Told Tsipras Why I Wish he Loses Election

Former German finance minister Wolfgang Schaeuble said that in 2014 he told Alexis Tsipras that he wishes him to lose in the 2015 election because he could not stay true to his promise to keep Greece in the eurozone...

European Commissioner: Greek Bailout a ‘Scandal’ for Democratic Procedures

The Eurogroup’s handling of Greece’s bailout programme was a scandal in terms of democratic processes, Economic Affairs Commissioner Pierre Moscovici said in an interview with Corriere della Sera. The French economist said that after eight years of crisis and tough...

IMF Chief: Greek PM Tsipras Wanted to Change the Euro Zone Rules

Greek Prime Minister Alexis Tsipras wanted to change the euro zone rules because of his ideology but soon changed course, the International Monetary Fund Managing Director Christine Lagarde said on Sunday. The IMF chief spoke in an interview on France...

Eurogroup President Spox Says Dijsselbloem Expects Deal on Greek Bailout Next Week

Eurogroup chief Jeroen Dijsselbloem says that he expects to conclude the deal for the Greek bailout program at the June 15 meeting, his spokesman said on Friday. A report by Reuters says that IMF chief Christine Lagarde will be attending...