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Tag Archives: Economy

EU leaders agreed on coronavirus economic rescue plan

A plan for injecting billions of euros of emergency aid into Europe’s battered economies has been agreed by EU heads. Meeting via video, they agreed to set up a massive recovery fund, closely tied to the bloc’s seven-year budget. They also confirmed that €540bn (£470bn) of financial support would be …

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Greece concerned about impact of coronavirus on economy & tourism

Greece is highly concerned about the impact of coronavirus on economy and the tourism industry, especially now that the country has started to improve its fiscal figures and progress. The international and Greek tourist industry are sailing in uncharted waters after the outbreak of COVID19 and the biggest crash test …

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ECB Vice: “Greek people do not feel the economic improvement”

European Central Bank Vice President Luis de Guindos on Monday praised the progress made by the Greek economy. He was clever enough, though, to observe that the Greek people have not felt the improvement in their daily lives yet. “The Greek people, despite not yet feeling the improvement shown by …

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Greece’s state primary surplus at 1.763 bln euros in Jan-July

The Greek state budget recorded a primary surplus of 1.763 billion euros in the January-July period, from a budget target of a primary deficit of 803 million euros. The primary surplus was 926 million euros in the same period last year, the finance ministry said on Monday. The ministry’s report …

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Online rentals benefited Greece by $1.4billion, says Airbnb

The Greek economy benefited from Airbnb by 1.4 billion US dollars in 2018, the online rentals platform said in a press release. Airbnb released statistics for over 30 countries about the “direct economic impact” of the platform. The data are based on host income and estimated guest spending- in USD …

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EU Commission warns Greece relief measures “a risk for agreed primary surplus”

The European Commission released the European Semester 2019 Spring Package with recommendations for all Member States in order to advance sustainable and inclusive economic growth. On its 7-page long report on Greece, the Commission notes that “Greece is currently in the preventive arm of the Stability and Growth Pact and …

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Greece’s problem is the “distribution of tax burden,” says Budget Office coordinator

The problem of Greek economy “is not the level of taxation but the distribution of tax burden,” said the coordinator of Parliament’s Budget Office, Fragiskos Koutentakis.he pointed out that although the Greek economy is on positive course, the wounds of the economic crisis will need time to fully close. In …

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Greek Shipowners to voluntarily pay €75million per year to state coffers

At least 75 million euros per year will flow into the coffers of the Greek state with the new agreement signed between the government and the Shipping Community on Wednesday. According to the new agreement “the payment of a sum equivalent to 10% of the imported dividends of the members …

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Greece can be next euro success story, says EMS chief Regling

Greece is on track to become the next success story of the euro zone debt crisis, but fully regaining investors’ trust will require sustained commitment to economic reforms, the head of Europe’s rescue fund said on Tuesday. “Greece’s access to markets remains fragile,” European Stability Mechanism (ESM) head Klaus Regling …

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Speculations about snap elections do not help Greece’s economy, says chairman of UHCC Michalos

Speculating about early elections at a time when Greece was entering a phase of recovery does no service to the economy, the head of the Union of Hellenic Chambers of Commerce and president of the Athens Chamber of Commerce and Industry (ACCI) Constantine Michalos noted in an interview with the …

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Tsipras in symbolic Kastellorizo: “We don’t negotiate, we don’t trade a span of soil”

Kastellorizo 23 April 2010 and 17 April 2018: Eight years ago, it was Prime Minister Giorgos Papandreou who had chosen the remote island of Kastellorizo to announce that Greece had surrendered to the International Monetary Fund and the bailout agreements. On 17. April 2018, Prime Minister Alexis Tsipras chose again …

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