Eurozone
Economy
IMF Proposes Structural Reforms for Greece Instead of Wage Cuts
The current internal devaluation process in Greece includes job cuts and shrinking of domestic demand rather than structural reforms which could increase productivity, noted the International Monetary Fund (IMF) on a new report analyzing the amount of responsibility that the northern...
Economy
More Than a Third of Greeks Were Living in Poverty in 2013
Greece ranks fourth among the 28 EU member-states with the highest percentage of citizens living on or below the poverty line, according to figures released by the Hellenic Statistical Authority (ELSTAT) and published in a report by the Foundation for Economic...
Economy
Dijsselbloem: More Work Needs to be Done on the Greek Program
Speaking before the Eurogroup meeting in Brussels, German Finance Minister Wolfgang Schaeuble assured that there is no intention of modifying the growth and stability pact.
In his statement, Schaeuble stressed that there was a need for further stimulating growth in...
Economy
Stavros Niarchos Foundation & Brookings Complete European Growth Project
The Brookings Institution’s European Growth Project was completed last week in Athens, with the third and final roundtable discussion on European economic issues, following previous meetings in Madrid (March 2013) and Berlin (May 2013).
The roundtable conversation was followed by a...
Europe
Eurozone Jobless Rate Remains at 11.6 Percent
(AP) - The number of unemployed people in the 18 eurozone countries declined fractionally in May, but not enough to bring down the jobless rate, which remained at 11.6 percent compared with a month earlier.
The European Union's statistics office,...
Economy
WSJ Says IMF Owes Greece An Apology
It's too late to help, but an apology is long overdue to Greece because of errors the International Monetary Fund made in miscalculating the effects of austerity demanded in return for bailouts and other mistakes the agency made, a...
Greece
Stournaras Named Bank of Greece Governor
Greece's former Finance Minister Yannis Stournaras on June 11 was appointed Governor of the Bank of Greece for the next six years, taking over from George Provopoulos, who had wanted to keep the job.
"It is announced that the General Council of...
Cyprus
White Vote: Political Tsunami
This year’s EU Parliamentary elections have certainly triggered a political tsunami; a tsunami that has swept right across the Eurozone to shake up the basic foundations of the entire political establishment. Over sixty percent of the electorate has turned...
Greece
Farage Vows to Visit Greece for Holiday after Grexit
The British Eurosceptic and leader of the UK Independence Party, Nigel Farage predicts that Greece will be forced to exit the Eurozone, saying that this would devalue its currency and as a result make it a “hot” tourist destination.
Speaking...
Greece
Eurostat: Slight Decrease in Unemployment
The highest unemployment rate on a European level was recorded in Greece, followed by Spain and Croatia. Meanwhile, Germany, Austria and the Netherlands appear to have the lowest rates of unemployment.
In Greece this February, unemployment stood at 26.5%, a...