Tag Archives: eurozone

Greece is one of the top five countries in the Organization for Economic Cooperation and Development (OECD) in value-added tax charges and the first in the eurozone, together with Finland. Indirect tax revenues currently make up about 56.4% of takings in Greece, while direct taxes account for 35.4% (the rest …

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The European Central Bank (ECB) should continue its bond-buying stimulus programme at least until the end of the year and keep it open-ended to cushion the fallout from any conflict in Ukraine, ECB policymaker Yannis Stournaras told Reuters. He was the first ECB official to spell out how events in …

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Banks in Greece, Spain and Portugal face increased risks from the climate change, according to a joint report by the European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published on July 1. Greece and other southern EU countries are exposed to increased risks, on the one hand …

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The Greek economy will contract at a smaller rate in 2020 compared with the Eurozone average, the Organisation for Economic Cooperation and Development (OECD) said in its semi-annual report on the global economic outlook. This forecast comes in opposition to forecasts made by the European Commission and the International Monetary …

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Greece has the highest Value Added Tax rate in the Eurozone, while it ranks 5th in the European Union, a study by the US-based Tax Foundation finds. When it comes to VAT, Greek households are one of the most burdened in Europe. According to the report, Greece is in the …

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Outgoing head of the European Central Bank, Mario Draghi, has said that he was never part of the camp that wanted “to let Greece go” from the eurozone during the deadlock between lenders and the then recently elected SYRIZA party in 2015. In an interview with the Financial Times published …

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Greece has entered a period of economic growth that puts it “among the best performers in the eurozone.” This rather striking judgement comes from the International Monetary Fund in a new report on the Greek economy. A senior IMF official said there were a lot of positive developments to point …

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Greece is at risk of not getting some 750 million euros next month that it won under a debt relief deal with the euro zone last year because it has not completed agreed reforms, euro zone officials told Reuters on Monday. The money is part of about 4.8 billion euros …

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Long time not heard. The magic word that causes hair-raising and spine-chilling to million of Greeks: GREXIT. A Canadian rating agency said on Monday it considers Greece runs a “moderate” risk of exiting the eurozone. Canadian international ratings agency DBRS warned in its report that while the other 18 eurozone …

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Belgium will pay a total of 221.8 million euros to Greece in the context of profit central banks made from Greek bonds, Belgian business newspaper L ‘Echo reports. The money is from the ECB and EZ central banks Security Markets Program. “In the midst of a crisis, the European Central …

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Price hikes in food, fuel, services and other essential goods drove the annual inflation rate in Greece to 1.0 percent in June 2018, from 0.8 percent in May, the Greek Statistics Authority and the Eurostat that uses the ELSTAT data said. According to ELSTAT statement, inflation rate rose 1% between …

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German Chancellor Angela Merkel and French Emmanuel Macron agreed on Tuesday to create a budget for the euro zone. They met at Meseberg by Berlin  and agreed also on some other EU reforms like reducing the number of EU Commissioners and take again steps on the migration crisis. The meeting, …

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All lights ‘set on green’ for end to Greek bailout, said Luxembourg finance minister, Pierre Gramegna, on Friday. Gramegna is one of 19 euro zone finance ministers who will meet next month to hammer out what Greece hopes will be a post-exit plan for substantial debt relief following eight years of …

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Greece recorded the lowest growth rate in 2017 among the EU member-states, according to the  annual report of the European Central Bank released  on Monday. The Greek GDP amounted to 1.4%, compared with a 2.3% average in the eurozone, while Ireland’s figure stood at 5%. According to the report, the …

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The European Commission unveiled its vision of a rebooted eurozone, including the creation of a European version of the IMF. The European Monetary Fund should be created by 2019. The European Commission unveiled its vision of a rebooted eurozone on Wednesday, including the creation of a European version of the …

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It was the first Eurogroup meeting without Greece being on the agenda and the last Eurogroup meeting for outgoing German finance Minister Wolfgang Schaeuble. End of an era. End of the Schaeuble era. His colleagues paid tribute to the longest serving member. They signed on an European Union flag and …

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The leader of Germany’s pro-business Free Democrats (FDP), a possible junior partner in Chancellor Angela Merkel’s next coalition government, has called for a tougher stance on fiscal and euro zone policy – without so far claiming the finance ministry. Merkel is trying to form a three-way coalition with the FDP …

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The President of the European Commission, Jean-Claude Juncker revealed his vision of a European Union in full integration. In his speech about the State of the EU 2017,  Juncker called to speed up the EU integration. His speech at the European Parliament lasted more than one hour. Below some quotes …

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German Chancellor Angela Merkel considers that the situation in Greece of strict austerity, bailout agreements and income decreases “is in a much better state than a year ago.” She also expressed confidence that when Greece implements the outstanding 100+1 austerity measures of the third bailout agreement and its revisions  “more …

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European Commission President Jean-Claude Juncker has claimed he “fought hard” in 2015 to prevent Greece being expelled from the single currency, and ensure the stability of the economically ravaged country. Greek society may beg to greatly differ. In an interview with Politico.eu, Juncker claimed he stuck up for Greece against stiff opposition …

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