Eurozone
Economy
Greece’s Piraeus Bank Optimistic for the Future
One of Greece's largest banks, the Piraeus Bank, issued a statement on Wednesday regarding its performance so far in 2021.
Business
EU Posts Large Trade Surplus as Imports Drop in 2020
The Eurozone's trade surplus posted record numbers in June, swelling to 21.2 billion euros ($25 million) as the bloc experienced a corresponding record decline in the importation of goods due to the Covid-19 pandemic, according to a recent report...
Economy
April 23, 2010: Ten Years Since the Official Beginning of the Greek Financial Crisis
It was a day much like this on April 23, 2010, when the then-Prime Minister of Greece George Papandreou announced from picturesque Castellorizo Island that Greece would officially ask for financial assistance from its fellow Eurozone member-states as the...
Economy
Greece Expects 4% Recession, as European Economy Enters Uncharted Territory
Christos Staikouras, the Greek Finance Minister, expressed on Sunday his belief that the Greek economy will shrink by four percent in 2020 due to the reduction of economic activity the coronavirus pandemic has brought upon the country.
Speaking with Greece's...
Economy
Greek Bonds Drop Below 1% Milestone For the First Time in History
Greece's 10-year state bonds broke into new historic record-low territory on Wednesday, dropping below the one-percent milestone for the first time in history.
The country's 10-year bonds were trading at a yield of 0.962% on Wednesday afternoon, down from 1.08%...
Economy
Could 2020 Signal the End for the 1 and 2 Euro Cent Coins?
The fiscal authorities of the European Union are considering the possibility of abolishing the coins which represent the value of one and two euro cents, according to an EU document that recently became public.
The European Commission is thinking about...
Economy
Greece Still Among Eurozone States With Very High Taxes on Consumption
According to a recent study conducted by the ''Tax Foundation'' think tank, Greece is still among those Eurozone member states that impose the highest taxes on consumption.
Taxes on consumption are traditionally the highest in Europe, but after ten years...
Economy
European Union to Give Green Light to Greece's Budget for 2020
Τhe European Commission posted Greece's draft budget plan for 2020 on its website on Wednesday. The budgetary projections envisage a primary surplus of 3.7 percent of GDP in 2019 and a surplus of 3.5 percent of GDP in 2020,...
Economy
Greek Primary Surplus Continues to Exceed Targets Despite Tax Cuts
The Greek state budget recorded a primary surplus of 4.479 billion euros in the January-September period over budget targets, for a surplus of €1.467 billion, the country's Finance Ministry announced on Tuesday.
There was a primary surplus of 2.523 billion euros...
Economy
Greece Borrows €1.5 Billion at Extremely Low Interest With New 10-Year Bond
Greece managed to tap €1.5 billion on Tuesday from global financial markets after it reopened its 10-year bond to take advantage of the new, extraordinarily low interest rates.
According to reports, more than 5.4 billion euros were offered to Greece,...