finance
Economy
'No Agreement For Cancellation of Pension Cuts' Greek Government Source Says
A high-ranked source from within the Greek Government has denied the claims that Athenian and Macedonian News Agency's report made regarding an alleged deal between the Greek Authorities and the European Institutions regarding the issue of the upcoming pension cuts...
Cyprus
Rating of Cyprus is Upgraded by Major Credit Rating Agency
Capital Intelligence Ratings (CI Ratings) has announced that it has upgraded Cyprus’ Long-Term Foreign Currency Sovereign Rating to BB from BB- and affirmed its Short-Term Foreign Currency Rating at B.
At the same time, the Outlook for Cyprus' ratings...
Economy
The Top Greek Exports that Helped Greece Through the Financial Crisis
When it comes to how Greece has stayed afloat throughout the financial crisis that has gripped the nation since 2010, it is no surprise that products that contributed to the country's economy are certain dynamic exports that are exclusive...
Economy
Greece's Final Bailout Installment Approved by German Lawmakers
On Wednesday German lawmakers approved the last bailout installment for Greece totaling 15 billion euros.
The vote took place at a special sitting of the German Parliament that was in session during the parliamentary summer break.
Germany's approval comes just weeks after...
Greece
Will Creditors Approve Government's Plan of Incentives for Making Credit Card Purchases?
According to sources, there is a plan in the making to drive Greeks to use their credit cards to make purchases. The government has a 12 point plan as a part of a long-awaited bill with incentives to increase...
Economy
Finance Issues, Labor Reforms, Settling NPLs Discussed During First Round of Talks With Institutions; New Round Starts November 14
On Thursday, the government concluded the first round of negotiations with the institutions on the second program review, Finance Minister Euclid Tsakalotos said on Thursday, adding the heads of the institutions will return on November 14.
According to a senior government...
Economy
Greek Government Arrears Repayment of 1.1 Billion Euros in July
According to figures released by the Bank of Greece (BoG) and the General Accounting Office on Thursday, the Greek government has deposited 1.1 billion euros back into the Greek market.
The payment in arrears went, for the most part, to...
Economy
Cash Transactions Falling While Greeks Use Credit Cards Causing Retail Food Prices to Rise
For decades now it is an undisputed fact that in Greece, cash is king.
People have been using cash across the country to cut better deals at markets as well as your average clothing store and even buying food in cash...
Economy
Athens Exchange Is 'Designated Offshore Securities Market' by the SEC
The U.S. Securities and Exchange Commission (SEC), the supervisory authority of the U.S. capital markets, has recognized the “Hellenic Exchanges–Athens Stock Exchange S.A. (ATHEX) as a “Designated Offshore Securities Market (DOSM)” within the meaning of Rule 902 of Regulation...
Greece
Greek FinMin Tsakalotos Backed by France, Italy to Support Spain and Portugal at Eurogroup
The finance ministers of France and Italy agreed with Greek counterpart Euclid Tsakalotos on a more flexible treatment for Portugal and Spain during the Eurogroup meeting in Brussels on Monday, government sources said.
Initially, only Tsakalotos supported the two countries...