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Economy

ECB’s Coeure: Europe’s success in dealing with Greece is Europe’s success in …

“Europe’s success in dealing with Greece is Europe’s success in dealing with itself,” European Central Bank (ECB) Executive Board Member Benoît Cœuré said in Athens on Monday, while failure to support Greece will also be a failure to support itself. He noted that Greece had made a lot of progress …

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One-Stop Agency: Greece tries again to facilitate starting a business

For one more time, Greece tries to overcome bureaucracy and facilitate starting a business without having to go around through half of Attica prefecture if you’re an aspiring entrepreneur living in Athens. It is not the first time, Greece tries to make the life of business world easy. A couple …

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Piraeus Bank Chairman sees Trump boost to Greece’s Economy

Donald Trump’s election victory could spark spreading economic growth that lifts Greece out of recession, helping the country’s struggling lenders along the road to recovery, according to Piraeus Bank Chairman George Handjinicolaou. “If the bullish sentiment that currently exists in the U.S. with the election of a new president is …

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Mini Summit EZ-IMF on Greece in Berlin: What are they up to?

The finance ministers of Germany, France, Italy, Spain and the Netherlands, as well as representatives of the EU and the ECB and the International Monetary Fund (IMF) will meet in Berlin on Friday to talk about Greece. However, the Greek finance minister Euclid Tsakalotos has not been invited to participate. …

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Budget 2017 brings one more indirect tax tsunami – my pocket’s on fire

The Budget 2017 submitted by the Greek government to the Parliament will bring another tsunami in indirect taxes that will sweep across the pockets of people, whether they are full, contain one euro, a few cents or just holes. Aim is a surplus of 3.6 billion euro. 2,5 billion euros …

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Bruegel: Huge Debt Restructuring or Fourth Bailout inevitable

Bruegel Institute Chief Zsolt Darvas said that there are two possible solutions for Greece’s debt problems following 2018. One is huge debt restructuring or a fourth bailout program for the country. Speaking with Greek daily TA NEA, the Hungarian economist said that even if Greece has the expected development for …

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Portugal’s FinMin Centeno: EU should discuss Greece’s Debt Relief

The European Union should discuss debt relief for Greece and potentially move ahead even without the International Monetary Fund, Portuguese Finance Minister Mario Centeno said in an interview published Tuesday by the Bild newspaper. “We have to start this discussion,” the German newspaper quoted Centeno as saying. Eurozone finance ministers …

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Crucial program review negotiations end without agreement

The critical negotiations between Greece and the lenders aiming to conclude the second program review …concluded at 5:30 a.m. on Tuesday without agreement. Main issues that still remain open are the Labor and the Fiscal ones. There was some convergence in the fiscal issues, the gap decreased to 600 million …

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Bank of Greece report: Apartment prices down 1.5 pct in Q3

Nominal apartment prices are estimated to have declined on average by 1.5 pct year-on-year in the third quarter of 2016, the Bank of Greece said on Monday. The central bank, in a report, said that according to revised data, the decline in the first and second quarters of 2016 was …

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Dijsselbloem : Eurogroup to discuss debt relief for “committed” Greece

Winds of Change? Juncker, Moscovici and Dijsselbloem ‘secretly’ plot an uprising and revolt against Schaeuble? Eurogroup head Jeroen Dijsselbloem said that the Greek government is very committed and more cooperative than the other governments under the bailout agreements and that the Eurogroup will discuss debt relief measures on December 5th …

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Budgets of 8 EZ countries “at risk of non compliance”, but Commission gives them a 0.5% space

The European Commission is warning eight Eurozone member countries including Italy and Portugal that their national budgets plans for 2017 are “at risk of non compliance” with EU’s budget rules. Besides Italy and Portugal, these countries are Spain, Belgium, Finland, Slovenia, Cyprus and Lithuania. Another five Eurozone members are “broadly …

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Berlin to Obama & Tsipras “Forget the debt relief!”

Despite the excitement over US President Barack Obama in Greece and his message of support for Debt Relief, just hours before he lands in Berlin, Germans remain cool and even underestimate the influence of the outgoing President. “What is the weight of Obama’s words in Washington and Europe?” German state …

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BoG Stournaras: Greece to ease capital controls soon

Greece will soon ease capital controls further but full liberalization will depend on progress in easing the country’s debt burden, which is also a precondition for entering the ECB’s asset buying scheme, central bank chief Yannis Stournaras said. Propped up by three successive bailouts, Greece hopes to emerge from a …

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