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Euro zone

Candidate for U.S. Ambassador to EU in Favor of Grexit (video)

Ted Malloch, who is likely to become the U.S. ambassador to the European Union, spoke to Bloomberg where he expressed the belief that it would be better for Greece to leave the common currency bloc. The professor of strategic leadership...

SYRIZA MP Comment on Grexit Generates Reaction From Opposition

A comment about Greece returning to the drachma made by SYRIZA MP Nikos Xydakis generated reactions from opposition parties, even though he played down his statement later on Tuesday. Xydakis spoke on Skai television on Tuesday morning saying that the...

Greek Economy Stagnant as Euro Zone Figures are on the Rise

The Greek economy remains in recession while figures for the rest of the euro zone have taken a positive turn with growth on the horizon, as new Eurostat data released on Tuesday show. Unemployment is at its lowest in eight...

It Will Take 21 Years Until Unemployment in Greece Returns to Normal, IMF Official Says

  Director of the European Department of the International Monetary Fund Poul Thomsen estimates that it will take 21 years until unemployment in Greece reaches pre-crisis levels. The Dutch economist spoke in Washington on Wednesday during the presentation of the book...

Poll: Greeks Lose Faith in the Euro Currency Bloc

A new opinion poll conducted by ALCO on behalf of Zero magazine shows that Greeks are losing faith in the euro zone and question the common currency. The poll shows that Greeks are divided almost in the middle regarding their...

Greece Gears to Complete Bailout Program Review by January 26

After missing the chance to complete the second review of the bailout program in 2016, Athens is gearing up for the January 26 Eurogroup to come to a successful conclusion. However, the delay of the evaluation completion puts Greece out...

Euro Working Group Not Unblocking Greek Debt Relief Measures Yet

The Euro Working Group has not decided on Tuesday to unblock debt relief measures for Greece after Athens decided to give a Christmas bonus to pensioners and reduce VAT on certain Aegean islands. The short-term debt relief measures were decided...

Greece-Creditors Unlikely to Complete Bailout Program Review Before 2017

Creditors representatives left Athens on Friday without meeting with pertinent Greek ministers to negotiate the progress of the third bailout program; talks will continue via teleconference. Development Minister Dimitris Papadimitriou and Energy Minister Giorgos Stathakis returned from the U.S. on...

Greek PM Confident of Debt Measures, Criticizes IMF, Germany

Greek Prime Minister Alexis Tsipras appeared confident on Thursday that he could win a dispute with European creditors who froze a package of debt relief measures. Last week Tsipras announced that he will distribute 617 million euros to low-income pensioners...

European Finance Commissioner: IMF Makes 'Politically Impossible' Demands of Greece

European Commissioner for Economic and Financial Affairs Pierre Moscovici said that the International Monetary Fund is making "politically impossible" demands of Greece. In an article he wrote for the Financial Times, Moscovici wrote that Greece has made "unprecedented efforts major...