Eurozone

Greek Public Debt Reaches 169.1 percent of GDP

According to data released recently by Eurostat and the European statistics authority, the public debt in 24 countries of the European Union rose during the second semester of 2013. According to the same source, the public debt of Greece stood...

Eurostat: Greece has the Highest Debt in the EU

Greece has the highest debt in the Eurozone, with 156% of GDP for 2012, while its deficit was the second highest both in Eurozone and the EU, at 9%. More specifically, according to the data published by the Statistical Office...

Greek Banks Face Two More Years of Recession

Even as the Greek government touts a coming primary surplus and predicts the beginning of a recovery next year, The Governor of the Bank of Greece Giorgos Provopoulos said he expects the country's deep recession, now in a sixth...

Secret IMF Report Shows Greek Bailout Worries

Even while the International Monetary Fund in 2010 was agreeing to dubious plans to bail out the faltering Greek economy - a joint effort with the European Union and European Central Bank in what became known as the Troika...

S&P Affirms B-/B Rating and Stable Outlook for Greece

S&P affirmed Greece’s sovereign rating at B-/B with a stable outlook. The investment house believes the Greek economy is rebalancing, as reflected in its reduced current account deficit, notable budgetary consolidation, and improved competitiveness, among other positives. However, it...

Draghi Says Greek Runway Debt Manageable

Even as Greece looks likely to need a third bailout and its debt has risen in the last 15 months, European Central Bank President Mario Draghi, whose institution is one of the country's Troika of international lenders, said he...

Greece's Properties Could Fill Budget Gap

Frantic to find a way to cover a looming $11-$14 billion hole in its budget next year, the Greek government reportedly is considering using its state properties as collateral to sell bonds as a way to raise critical revenues. Finance...

Grexit Show on German TV (video)

In the program that will be aired on the evening of September 16 by the German TV channel Tele-5, the leader of the conservative, euro-currency-skeptic political party in Germany AfD (Alternative for Germany) Bernd Lucke will appear wrapped in...

Markets Prepare for New Aid to Greece

“There is almost no private investor who could be scared of the news about a new rescue package to Greece,” Jörg Kraemer chief economist at Germany's Commerzbank stated, referring to the possibility of a new bailout for Greece after...

Eurogroup OK's Next Cypriot Loan

Eurozone finance ministers have approved a 1.5 billion euro loan tranche to Cyprus as part of that country's 10 billion euro bailout the government sought to keep its banks and economy from collapsing. “The Eurogroup welcomes the conclusion of the...