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Cost of Labor Increased By 2.2 Percent in Euro-Area, Data Reveals

The cost of labor was increased by 2.2 percent in Euro-area during the second quarter of 2018, according to data published by Eurostat. This didn’t happen due to higher wages but mainly because of the increase in taxation of labor. Across...

Greece’s Budget Primary Surplus €605 Million Higher Than Same Period Last Year

Greece’s state budget primary surplus was €605 million ($702 million) higher during the first seven months of 2018 compared to the same period last year, the State Budget Office of the Hellenic Parliament announced in a report. The report also...

EU's Juncker: 'I am Proud We Stood Up for Greece'

European Commission President Jean-Claude Juncker has told an economic forum in Brussels that Greece will soon leave its bailout program. Juncker was speaking at the Brussels Economic Forum where he also said Europeans should be "proud of the creation of...

Yanis Varoufakis Warns Euro Will Fail and Will Bring EU Down With it

Appearing on the TV program BBC This Week, former Greek finance minister Yanis Varoufakis launched a savage attack on the EU, claiming it is destined to fail because the euro is doomed. The BBC’s Andrew Neil asked him what he...

Greece Gets a Deal: Full Eurogroup Statement

The Greek government managed to get a deal with its creditors at Thursday's Eurogroup and unlock the next vital cash tranche of its bailout program. Greece’s international creditors agreed to approve the disbursement of 8.5 billion euros and to detail...

Greece Strikes Bittersweet Deal With Creditors Hoping for Debt Relief

The Greek government has reached an initial deal with the country's international lenders from Europe and the International Monetary Fund regarding the second review of the country’s current bailout program. The last round of negotiations lasted for twelve hours and the...

German FinMin: Greece Must Implement Reforms or Leave Euro Zone

German Finance Minister Wolfgang Schaeuble on Wednesday brought back the Grexit issue by saying that unless Greece implements reforms it cannot stay in the euro zone. The German finance minister spoke to the country's broadcaster ARD in light of the...

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...

British Holidaymakers to Greece Suffer From Brexit Backlash

British tourists claimed they were being refused cash withdrawals and exchanges following the Brexit win. No sooner was the vote announced that fund access was cut as there was no rate set by the Central European Bank for the...

Survey Finds Greeks Want EU but Feel Less European, UK Wants out of EU

A recent survey conducted by ORB International asked respondents across 14 different European countries their thoughts on the EU and the Eurozone. Sixty two percent of Greeks said they would prefer to stay in the European Union if there were a...