Greece
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European Commission

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...

EU To Allow Unlimited State Aid To Social Services

The European Commission has adopted a new set of rules on the provision of state aid to companies providing "services of general economic interest," according to a statement published Tuesday. The new package will give leeway to governments to provide...

Greece Staying In Euro Faces Double Risk

Government’s failure to comply with its obligations under the MoU and EU leaders’ inability to reach bold decisions, keep open the possibility of Greece exiting the Eurozone. Yesterday’s statement by the President of European Commission Jose Manuel Barroso that Europe...

Greece Facing Complaint Over New Online Gambling Law

The European Gaming and Betting Association (EGBA), the Remote Gambling Association (RGA) and the European Commission filed a complaint against the new online gambling law adopted by the Greek government recently. According to NewEurope Online, the new regulation has already been...

Power Strikes Loom, Lights Out in Greece?

ATHENS – Even Greeks inured to 18 months of protests, riots and strikes may not be ready for the next action against austerity measures: a wave of rolling 48-hour work stoppages planned by the labor union that oversees workers...

Barroso: Pardoning of Greek Debt Won't Be Repeated!

This week's Eurozone agreement to remit 50% of the massive Greek state debt is "an absolutely unique and exceptional measure," stated EC President Jose Manuel Barroso. In an interview for Portugese paper Expresso, the European Commission chief said that this...