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Finance Ministry

Greek State Aims to Raise €5 Billion from Confiscations and Auctions

The Greek government is to proceed with confiscations of bank accounts and real estate for about 55% of debtors to the state aiming to raise 5 billion euros. The ministries of finance and labor and their respective collecting agencies turn...

Ministry, BoG Propose Incentives to Deposit Hidden Stashes of Cash in Banks

The Finance Ministry and the Bank of Greece have announced that they are looking to create an exemption from capital controls for any money that Greeks deposit in local banks that they have been stashing in home safety deposit...

Greek Finance Ministry Drafts Bill to Promote Use of Plastic Money

The Greek Finance ministry is drafting a new bill soon to be tabled in parliament that would offer tax benefits to people who use credit or debit cards for their payments. Citizens who spend 10-30% of their income in purchases...

Greece to Receive Next Bailout Tranche by June 13

Α source from the Greek Ministry of Finance said on Wednesday that the first installment of bailout tranches benchmarked for Greece, worth 7.5 billion euros (from a tranche worth 10.3 billion euros), will be disbursed by June 13. The same...

Greece's General Secretariat for Public Revenue Becomes Independent in 2017

Greece's General Secretariat for Public Revenue will become independent as of 2017, free from state control and monitoring, and with a European Commission expert next to its governor. According to a Kathimerini report citing a draft bill the newspaper has...

Greek Fin Min: Agreement With Creditors Will be Signed by Easter

Greek Finance Minister Euclid Tsakalotos estimates that the text of the agreement with creditors will be ready by Tuesday and it will be signed by Easter time. According to the finance ministry, the technical teams have agreed on the income...

Greece Needs Measures Worth €5.5 Billion to Complete Bailout Review

Greece's Government Council for Economic Affairs (KYSOIP) decided on Monday night that measures worth 5.5 billion euros are needed in order for Athens to come to an agreement with creditors on the bailout program. According to a government official under...

Greek Finance Ministry Sources Discuss Changes to Real Estate Tax

There is no issue of changing the 2015 Uniform Real Estate Ownership Tax (ENFIA), Finance Ministry sources said on Thursday regarding the ruling of the Council of State. The Council of State, Greece's supreme administrative court, on Wednesday officially published...

Greece Close to Bankruptcy as Private Debt Is Higher than GDP

Greece is on the brink of bankruptcy as private debt is higher than gross domestic product and rising, says a Greek Money report. Private debt is higher than GDP and if the state debt is added to the equation, the...

Government Eases Capital Controls on Church of Greece

The Finance Ministry decided to ease capital controls on the Church of Greece, a decision that was criticized by business owners who continue to suffer with capital controls. Specifically, after a decision of the Greek Ministry of Finance, metropolises can withdraw...