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finance

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...

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...

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...

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...

Rumors Greek Creditors to Increase Labor Law Measures Not Confirmed, Says VP Dragasakis

Scenarios raising fears that more measures will be demanded by Greece’s creditors regarding labor laws are not confirmed and are possibly instigated by domestic forces, Government Vice-President Giannis Dragasakis said in an interview with Efimeritha ton Syntakton, published on...

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 Debt Heads to G7 Summit in Tokyo

Greek debt talks are due to take place at the Group of Seven (G7) summit of finance ministers at Tokyo, Japan, from May 18-20. The summit, ahead of the crucial Eurogroup meeting of Eurozone ministers on May 24, will...

Tsipras Tells Cabinet that Eurogroup Meeting Was a Success, Despite Shortfalls

Greece's Radical Left Coalition (SYRIZA) Prime Minister Alexis Tsipras addressed his cabinet during a meeting on Tuesday, in the aftermath of the extraordinary Eurogroup meeting on Monday.  "Today is an important day. And it is an important day because after...