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European Commission

European Commission approves funding for construction project in the Peloponnese

Today the European Commission approved 252 million Euros of funding for the construction of a motorway in the Peloponnese. The total amount of the investment is estimated at 296 million Euros and is a  joint investment of the private,...

European Commission Says It Has Legal Right To Look Into Siemens Scandal

The European Commission, through its Internal Market Commissioner Michel Barnier, declared that the compromise between Greece and Siemens after the scandal came to light does not restrict the right of the Commission to conduct its own research on whether...

Greek Products Promoted in Brussels

Under the auspices of European Commissioner Maria Damanaki, the Greek Community of Brussels organized a presentation and promotion of Greek wines and traditional food products of great quality on May 24 at the Berlaymont, the headquarters of the European Commission...

EU Commission Denies Working On Secret Greece Exit Plan

The European Commission is not working on any contingency plans should Greece leave the Eurozone, a spokesperson for the Commission said on Friday. “We completely deny that we are working on any such emergency plans,” the spokesperson told Market News...

Greek Economy Shrinks 6.2% in Q1

Greece’s economy shrank in the first three months of 2012, the 13th contraction in the past 14 quarters as policy makers struggled to stay in the euro. Gross domestic product dropped 6.2 percent from a year earlier in the first...

European Commission: Greece GDP Shrinks 4.7%

Greece's economy remains mired in a deep recession with no signs of an upturn in sight, the European Commission said Friday, as waves of austerity measures and collapsing consumer and business confidence weigh on output. According to the spring forecasts...

EU Commission Denies Reports of New Troika Talks on Greek Cuts

The European Commission on Monday denied Greek media reports that officials from the country's international lenders were in Athens for talks on further budget spending cuts to meet bailout-dictated fiscal targets. Spokesman Amadeu Altafaj said he was aware of reports...

Greece Down to the Wire With Debt Write-Down Deal

ATHENS – Greece will know by the end of March 8 if enough private investors have agreed to accept losses of 74 percent as part of a so-called Private Sector Involvement (PSI) deal designed to wipe out $13I) deal...

Academy of Athens Calls on EU Commission to Support Greek Research Institutes

The Academy of Athens has notified the president of the European Commission, José Manuel Barroso, of the decision of its Senate in a letter, after it had been signed by another nine European Academies of Sciences, Letters and Arts. In the letter, which...

180 Priority Projects WIll Create 100,000 Jobs

Some 11.5 billion euros are to be invested in Greece, from European and national funds, in 180 priority projects aimed at creating thousands of new jobs (between 90,000 and 108,000). This is according to the European Commission, which has released...