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Economy

Shop-owner beats tax officer conducting audits on Patmos island

A local shop-owner beat tax officers conducting audits on the island of Patmos, Dodecanese, on Saturday.  It needed the intervention of two ministers so that local authorities detain the perpetrator. The three tax auditors had arrived on the island of Apocalypse in the context a ‘tax evasion safari’ launched by …

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IMF approves ‘in principle’ €1.6bn loan for Greece , will not give a cent until debt sustainable

The International Monetary Fund (IMF) Executive Board has given “in principle” approval to a new programme for Greece but made this conditional on both assurances from Greece’s European lenders and that reforms remain on track and the debt is sustainable. ‘In principle’ the IMF decision is positive for Greece, in …

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S&P Raises Outlook On Greece Ahead Of Bond Sale, Keeps B- Rating

Consider it a kiss to the bond investors who are expected to oversubscribe the upcoming latest “triumphal” Greek return to the bond markets, as soon as next week. Moments ago, rather unexpectedly, S&P raised its outlook on Greece from Stable to Positive, but reaffirmed the Greek rating at B-. The …

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Increased Israeli interest to invest in Greece’s privatization program, energy, tourism

The environment, energy, tourism and real estate sectors reportedly dominate interest by Israel-based investors eyeing business prospects in Greece, according to reports. Greece’s embassy in Israel has mostly fielded requests by local companies interested in an ongoing privatization program in the still bailout-dependent country. Solid and liquid waste management, a …

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UPD EFKA fund to return €170-€2,700 to 400K self-employed and freelancers

Social security fund EFKA will have to return money to 400,000 self-employed and freelancers after calculation mistakes led to increased social security contributions in 2017. With the new social security contributions system in effect as on 1.1.2017, self-employed and freelancers pay contribution according to income criteria. However, what the social …

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Greece may benefit from Brexit as shipping companies leave London

Greece is unlikely to suffer significant losses amid Brexit but could instead benefit from shipping and service companies looking for alternative post-Brexit locations, Vassilios Korkidis, the president of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE), told Russia’s Sputnik. The Brexit negotiations between the United Kingdom and the European Union …

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Greece needs more prior actions before tranche disbursement possible

A delay is expected in the disbursement of the bailout tranche from Greece’s creditors. Reason for the delay is allegedly that some of the prior actions required have yet to be fulfilled. Speaking to daily Kathimerini, sources say that instead of the decision that was to be made on Thursday, …

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Merkel says she is wary of Greece’s over dependence on China

German Chancellor Angela Merkel is wary of business over-dependence on China. She is especially concerned about the Chinese investments in Greece where Cosco has been winning the cream of the cream in public privatization tenders. In an interview with German weekly magazine WirtschaftsWoche, Merkel said Europe needed to be wary about …

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