Friday , April 28 2017
Home / News / Economy

Economy

Public Power Company PPC hires an Artistic Director for its choir… #NoWords

Greece’s Public Power Company hired an artistic director for its choir. It sounds like a bad musical the moment the PPC announced to retrieve retrospectively €735 million euros from electricity consumers as  outstanding debt have reached 2.2 billion euros. In a job opening that run from March 24 to April …

Read More »

EU Commission, IMF sent Greeks two MoU drafts before talks resume

Greece and foreign creditors resume talks on Tuesday afternoon after a long break. On the table are the so-called “reforms” prescribed under the international bailout and further debt relief. The aim is to reach a comprehensive deal (staff level agreement) before the Eurogroup meeting on May 22.  Talks are over …

Read More »

German-led consortium wins 67% stake in Thessaloniki port for €231.9 million

Greek privatization fund  HRADF declared a German-led consortium comprising “Deutsche Invest Equity Partners GmbH”,  «Belterra Investments Ltd.» and «Terminal Link SAS» as the preferred bidder for the acquisition of  67% stake in Thessaloniki port, the second largest in Greece. Deutsche Invest Equity Partners is a German private-equity, Terminal Link is …

Read More »

EU Commission confirms Greece’s primary surplus 2016 well above target

Greece’s primary surplus was 4.2 percent of gross domestic product (GDP) last year, significantly above the target set for Athens under its bailout program, the European Commission said on Monday. “The mission is returning to Athens today with the objective of concluding a sub-level agreement as soon as possible on …

Read More »

Schaeuble blames Greek Gov’t for review delays due to Easter break

German Finance Minister Wolfgang Schaeuble blames the Greek government for the current delays in the review of the country’s bailout program. “The Greek government bore responsibility for current delays,” Schaeuble told reporters in Washington on the sidelines of the International Monetary Fund spring meetings. Greece is to blame that its …

Read More »

ELSTAT: Greece’s primary surplus reaches 3.9% of GDP in 2016

Greece improved its public finances last year, achieving a general government primary surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country’s statistics agency ELSTAT said on Friday. “The surplus of General Government for 2016, in accordance with ESA 2010, …

Read More »

Dijsselbloem: Income tax measures €1.8bn in 2019 if Greece misses targets

In a letter to the members of the Eurogroup, chief Jeroen Dijsselbloem summarized what was agreed upon at the meeting in Malta on April 7th 2017. In his letter Dijsselbloem reveals also what the Greek government agreed on the implementation of the additional austerity measures scheduled to be implemented in …

Read More »

Greek gov’t says no additional measures for 2018, after IMF publishes Fiscal Monitor

With its forecast report the International Monetary Fund set the base for a new negotiation between the Fund and Greece’s  European lenders, that is Berlin. In its Fiscal Monitor 2017, the IMF forecasts for Greece a gap of 2.7 billion euros for 2018. The fund estimates that the primary surplus …

Read More »

IMF lowers Greece GDP growth projection to 2.2 percent

The International Monetary Fund has lowered its projections on Greek growth from last fall and warned against “unreasonable forecasts” and “unjustifiable frameworks” by the country’s European creditors. In its World Economic Outlook, published on Tuesday, the Fund argued that growth in Greece this year will come to 2.2 percent against …

Read More »

US Treasury Secretary Mnuchin talks to FT about Greece and IMF’s participation

US Treasury Secretary Steven Mnuchin gave no indication that the Donald Trump administration has any intention of standing in the way of an agreement between Greece and its lenders. In comments to Financial Times on Tuesday, Mnuchin said he hopes the Greek situation would be resolved in the near future. …

Read More »

Lagarde: IMF participation only if Greece’s debt is sustainable

The International Monetary Fund participate in the Greek program only if the country’s debt is judged as sustainable, the Fund’s managing director Christine Lagarde said in an interview to representatives of leading European newspapers. Additionally, she said talks over the Greek debt must first be completed before the IMF decides …

Read More »

US sees ‘supportive role’ for IMF in Greece’s bailout program

Washington will keep an “open mind” regarding the participation of the International Monetary Fund (IMF) in the Greek bailout programme, a senior US Treasury official said on Thursday. The US, the largest shareholder in the IMF, will likely not rule out new funding for Greece by the Fund, despite the …

Read More »