Greek Economy

Fitch Ratings has upgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDRs) by one notch to "CCC" from "CC." The issue ratings on Greece's senior unsecured foreign and local currency bonds have also been upgraded to "CCC" from...

Greece will submit its own growth plan to its partners in March 2016, according to Greek Finance Minister Euclid Tsakalotos' statements to parliament committees currently discussing the draft bill of the new agreement. Regarding debt restructuring, he said that it depends on the...

Greece has been in the center of international attention since 2008 due to the financial crisis that broke in the country. However, this is not the first time Greece has faced severe financial problems or even come face to face...

Greece’s public finances destabilized in the first half of 2015, main opposition MP Christos Staikouras said on Thursday, commenting on the budget execution in the first six months of the year. Staikouras, who comments on economic issues for New Democracy,...

The capital controls imposed on Greek banks three weeks ago may be in place for months until the country’s European partners provide fresh money to the banks. According to Reuters, the rehabilitation process for Greek banks could continue for months. "Rehabilitating...

After former Greek Finance Minister Yanis Varoufakis repeatedly denied publications about his alleged Plan B involving hijacking of Greek tax payers’ identification numbers and hacking into the Ministry's database, he eventually admitted that he had created a plan for a...

American economist Joseph Stiglitz is convinced that Greece’s third bailout deal will not be helpful for the country. In his article, published by the New York Times, the Nobel laureate explained why he thinks that the measures the Troika is asking...

The recent batch of measures taken by Greece's government will, to a large extent, solve the problems faced by businesses due to the imposition of capital controls, Deputy Finance Minister Dimitris Mardas said on Sunday. Appearing on Greek TV, Mardas said that the...

The International Monetary Fund stated on Friday that it had received a letter containing Greece's request for a new loan. "We will discuss with the Greek authorities and with our European partners the timing and the modalities for the...

Ernst & Young in collaboration with Oxford Economics published a study, predicting that the impact of a Grexit on the Greek economy would be devastating, even in the case of a coordinate exit from the euro area. According to research...