Greek economic prosecutors are seeking felony charges against the former president of the Greek Statistics Authority Andreas Georgiou over  upwards manipulation of the Greek deficit in 2009 and thus with the aim to push the country into the IMF bailout mechanism. Apart from Georgiou  felony charges are also to be raised against the …

 It looks as if the total amount of uncollected taxes, included the Value Added Tax, in 2009, is more than twice the amount of austerity measures Greece needs to take in order to receive the next trance. That was the result of an academic research published a week ago. € …

Battered Greece saw its budget deficit fall to 9.1 percent of gross output last year as severe austerity required to secure international aid bit into spending. Athens managed a 1.2 percentage point fiscal improvement compared with 2010 but its primary budget balance – which excludes debt servicing costs – has …

A bombshell with a weight of at least one mega-tone was dropped in the picturesque city of Athens on Friday afternoon. Thus while Greek government officials have been dealing with the Troika on the left and the private Greek bond holders on the right. Economic prosecutor Grigoris Peponis requested in a letter to prosecutor of …

Greece’s Budget 2012 has been submitted to the Parliament on Friday after being approved by the Cabinet. According to the text tabled at the parliament, the Budget 2012 estimated that recession will be reduced to 2.8%, unemployment to exceed 17% and new taxes to empty taxpayers’ pockets by 12 billion …

The Greek government has narrowly missed its deficit target for 2010, reporting a shortfall of  23.1 billion  euros for the year. The figure was announced by the Finance Ministry’s General Accounting Office on Tuesday, compared with the €21.9 billion  target included in this year’s state budget. The agency said the …

Ratings agency Standard & Poor’s has affirmed ‘B+/B’ sovereign credit ratings on Greece and projects an economy grow by 2.8% on average over 2019-2022. Furthermore, the agency said that “Greece has one of the most advantageous debt profiles of all our rated sovereigns in terms of maturity and average interest …

“Greece’s stock market is leading a rebound in European stocks so far in 2019,” Forbes writes in an article citing macroeconomic indicators. For years, Greek equities were on a losing streak. They mirrored the Greek economy which , under the pressure of a mounting debt burden, was floundering in the …

The bitter remedy Greece’s creditors prescribed to millions of Greeks during the economic crisis was the wrong medicine. Massive spending cuts and strictest austerity in order to get fresh loans and help from the European Central Bank, the International Monetary Fund and the European Stability Mechanism were based on miscalculations. …

IMF Greece’s report published on 31. July 2018: With the wildfires tragedy since last week we forgot that we have other issues that are pressing, like Greece’s commitments to the lenders. But a creditor is a cool-headed technocrat who does not get impressed by 92 dead people killed within a …

Greece’s GDP shrunk by 61.6 billion euros (26 percent) since 2010, the time span when three bailout memorandums with institutional creditors were signed and implemented, figures showed this week. Additionally, general government revenues decreased by five billion euros, with public sector wages, pensions and welfare benefits cut by 19.13 billion …

Supreme Court Prosecutor Xeni Dimitriou on Wednesday ordered the reopening of a case against the former head of Greece’s statistical service, Andreas Georgiou. Dimitriou’s decision follows the ruling of Council of Appeals Court judges who ruled for a second time that he should not face charges. This is the second …

“The European Commission has never, and will not, as a matter of principle, comment on individual national legal proceedings, […]. However, …” Despite the loyalty to  alleged EC principles, Marianne Thyssen, the European Commissioner for Employment, Social Affairs, Skills and Labour Mobility, threw all these principles over the board and …

The European Commission has officially launched the procedure to impose sanctions against Spain and Portugal for deficits of more than 3% in their budgets 2015. In a statement the EC paved the way for fines against its two members and suspension of part EU Structural and Investment Funds (ESIF). In …

Greek lawmakers voted on Tuesday in favor of setting up a committee to examine the circumstances under which Greece agreed to bailouts totaling 240 billion euros with the European Union and the International Monetary Fund. The proposal was approved with 156 of the 250 lawmakers present voting in favor, 72 …

What is the real problem of Greece in particular and the eurozone in general? What is the purpose of piling up debts and more debts -call me: bailout –  to Greece and the other indebted countries of the European South and strictest austerity program that end up in recession, deflation …

It’s official! What we thought and reported about back in 2010 and 2011 about why there was no haircut of Greek debt, it’s been now officially confirmed by EU commissioner Olli Rehn. “Greek debt did not undergo restructuring ( haircut ) in 2010,  in order to avoid contagion of the …

The external interventions on the Greek election process do not come to a halt. The European Commission threatened anew the Greek voters saying that the release of the next bailout tranche will very much depend on the outcome of the June 17 elections.  The commission and IMF review of Greece’s …

 “My country was the spark, but it merely exposed the inherent flaws within the eurozone. ” The Greek prime minister who took the country into the euro zone Costas Simitis published an article at the British The Guardian. He speaks about deficits and successful measures, but blames the the European Union for failing to …

” The financial situation in which Greece’s national insurance bodies find themselves is, to say the least, very serious. The organisations are the victims not only of the serious economic crisis in which Greece finds itself but also of the two-party system that has ruled the country for years and that …