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Economy

Commission to soon recommend end of excessive deficit procedure for Greece

The European Commission will recommend that Greece is removed from the excessive deficit procedure (EDP), European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Wednesday. Moscovici, amongst Athens’ most vocal supporters on the European stage, referred to impressive efforts to keep deficits down and post memorandum-mandated primary budget …

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Greece’s current account deficit shrinks, tourism revenues increase in April

Greece’s current account deficit contracted in April compared to the same month a year earlier, thanks to a lower trade gap and an increase in the primary income surplus, the Bank of Greece said on Tuesday. The data showed the deficit at 462 million euros ($515.45 million) from 872 million …

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Greek shipowners to extend voluntary tax pay also in 2018

Greek shippers intend to discuss the extension of their voluntary economic contribution to the state into 2018 in the context of an extraordinary general meeting of the Union of Greek Shipowners (EEE) scheduled for June 26. Sources told Kathimerini that the extension of this optional levy is all but certain, …

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Economy Minister: Schaeuble’s resistance to debt relief raises questions about Eurozone structure

Greek Economics Minister Dimitris Papadimitriou has accused German Finance Minister Wolfgang Schaeuble of being “dishonest” by blocking debt relief for Greece despite his acknowledgement that Athens has implemented significant reforms. Papadimitriou told German newspaper Die Welt in an interview published on Thursday that Schaeuble first had acknowledged that Greece had …

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Poland FM Waszczykowski: Greece is Germany’s ‘de facto colony’

“Poor Alexis Tsipras”,  “Greece’s debt relief is hostage to Berlin’s elections politics”, “Greece is Germany’s de facto colony.” Based on an interview with Polish Foreign Minister Witold Waszczykowski, where he explains why Poland does not want to join the Eurozone, Politico EU writes, among others: From the beginning of the …

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ECB says unlikely to include Greece in QE in next months

The European Central Bank is unlikely to include Greek bonds in its asset-purchase program for the foreseeable future, a person familiar with the matter said, as European creditors aren’t prepared to offer substantially easier repayment terms on bailout loans to improve the nation’s debt outlook. Lack of clarity on debt …

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French FinMin Le Maire in Athens with a Debt Proposal the IFM and Berlin tend to reject

French Finance Minister Bruno Le Maire expressed optimism Greece and creditors are not far away from the agreement. “The next two days will pave the way for an agreement at the Eurogroup” on June 15, Le Maire told reporters after a meeting with his Greek counterpart Euclid Tsakalotos in Athens …

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