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Economy

Lifting of cabotage for pleasure craft, yachts under review

Roughly 50 vessels exceeding 50 meters in length are expected to be added to Greece’s mega-yachting sector if the existing cabotage* regime is lifted for third country registries (outside the EU and EEA). Under the present (and strict) legislative framework a pleasure craft registered outside the EU-EEA cannot be hired …

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EIB and HSBC partner for trade finance of SMEs in Greece

The European Investment Bank (EIB) has partnered with HSBC to provide a wholesale facility for trade finance to Greece’s SMEs.  The €134m (£118m) package will be channelled to SMEs by the National Bank of Greece and Piraeus Bank. EIB, HSBC, Citibank and Commerzbank will provide credit guarantees. Other banks are …

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Greece to launch 7-year bond to raise €3 billions

Greece plans to tap international markets with a seven-year bond in the coming two weeks to raise three billion euros, a senior government source told Reuters on Monday. Greece hopes to create a cash buffer of up to 19 billion euros to cover debt repayments after it exits its current …

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