April 3, 2023
Economy
Applications for granting low-interest housing loans to young people started on Monday, April 3, 2023. The program concerns young people or young couples aged between 25 and 39 years old, who meet the conditions for participation in the program. Condition, among others, is that the house they buy is older …
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February 17, 2023
Economy
Servicers operating in Greece reacted to criticism that following a ruling by the country’s Supreme Court they would begin auctioning of primary residences. In an announcement they said that their first priority was to find mutually accepted and sustainable solutions for the repayment of outstanding debt. Particularly for vulnerable households, …
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December 16, 2022
Economy
Greece’s four systemic banks released a proposal to help vulnerable borrowers meet their monthly installments, outlining the plan and their contribution to the Greek economy in a joint statement on Thursday. The move follows meetings with Finance Minister Christos Staikouras, who along with the PM, has pressured banks to assume …
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December 3, 2022
Economy, FEATURED
Finance Minister Christos Staikouras gave the banks 10 days to proceed “immediately and bravely” with an increase in interest rates on deposits and a reduction in interest rates on new loans. He described the 4.86% interest rate on new loans in October as “unacceptable.” Speaking to Skai TV on Saturday, …
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June 10, 2021
Greece, Politics
U.S. senators Marco Rubio and Bob Menendez introduce legislation for major boost of deference partnership with Greece. Proposed is the sale of F-35 fighter jets originally planned for Turkey. Titled the US-Greece Defense and Interparliamentary Partnership Act of 2021, the bipartisan legislation bolsters support for Greek military modernization, authorizing new …
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June 29, 2020
Economy
A substantial part of the European Union’s package of measures to help the economy recover from the coronavirus pandemic must consist of grants rather than loans, the International Monetary Fund’s chief economist told German magazine Der Spiegel. “Otherwise it will not promote economic recovery,” Gita Gopinath was quoted as saying …
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May 27, 2020
Economy
Greek Prime Minister Kyriakos Mitsotakis welcomed the European Commission ‘s proposal for a 750 billion euro aid package to fight the economic repercussions of the Covid-19 pandemic in Europe, announced on Wednesday. In a tweet, Mitsotakis said, “We welcome the bold proposal of the European Commission for a package of …
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April 13, 2019
Economy
Managing Director of International Monetary Fund Christine Lagarde is positive to the idea that Greece repays earlier part of its loans, state broadcaster ERT TV reported on Saturday following a meeting between Lagarde and Finance Minister Euclid Tsakalotos in Washington. the news comes just hours after reuters reported that Greece …
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March 29, 2019
Greece, Politics
The economic prosecutors in Athens have pressed felony charges against 115 people, party officials and bank executives, for the loans conservative New Democracy and socialist PASOK received during 2005-2011. The non-performing loans amount over 400 million euros for both parties and were handed out without sufficient collateral, the prosecutors have …
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February 19, 2019
Greece, Politics
Alternate Health Minister Pavlos Polakis has reportedly recorded a phone conversation with the governor of Bank of Greece, Yannis Stournaras, and leaked the content to a SYRIZA-friendly media outlet, Greek media report on Tuesday. In the focus of the conversation were the two “consumer loans” totaling €100,000 Polakis took from …
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November 2, 2018
Economy
Greece’s government will start subsidizing mortgage loans with amounts that will reach up to 95% of the outstanding debt. The measure comes a few weeks after Greek banks started to offer generous debt cuts of up to 95% to debtors of non-performing consumer loans providing they can pay back in …
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October 3, 2018
Economy
Greece wants to repay loans to the International Monetary Fund and the European Central Bank before they mature, Finance Minister Euclid Tsakalotos said on Tuesday. The aim is to reduce debt serving cost, he added. The ECB holds Greek debt worth around 12 billion euros with an average maturity of …
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September 6, 2018
Greece, Politics
Piraeus Bank has won a lawsuit against Greece’s main opposition party New Democracy for loans that have not be repaid. A First Instance Court in Athens ruled on Tuesday in favor of the bank that could theoretically proceed with the confiscation deposits and assets of the conservative party.Greece’ main opposition …
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August 6, 2018
Economy
The final disbursement of 15 billion euros loan tranche to Greece has been made today, European Commissioner for Monetary Affairs Pierre Moscovici announced on Monday afternoon. Reason to celebrate? Hardly. The money is one more one more loan on the Greeks’ shoulders and increases the total loans to Greece to …
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January 22, 2018
Economy
Where banks fail, casinos have the solutions. The Greek casinos. The Greek Casino Banks. They will give loans of at least 50,000 euros. Unbelievable? But true. The omnibus prior actions bill voted last Monday at the Parliament includes a clause that allows casinos to lend to esteemed customers as much …
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November 27, 2017
Economy
The head of the euro zone’s European Stability Mechanism (ESM) bailout fund told German economic newspaper Handelsblatt that Greece was making good progress with its reform drive. Klaus Regling added that “unused funds could be used to repay loans to other creditors.” Unused funds to repay loans to other creditors? …
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September 22, 2017
Economy
Greece’s corruption prosecutor has brought criminal charges against 30 former executives of the now defunct Agricultural Bank of Greece (ATE) for approving loans over a 10-year period to construction company ATTIKAT as well as to a private citizen who did not meet the necessary requirements. The cost incurred by the …
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September 3, 2017
Social
Riot police squads had rushed as early as possible outside a shop in the old city of Rethymnon, Crete, and blocked the street to prevent locals from approaching. A representative of a US Fund was to install an alarm system at the shop the Fund had seized after buying the …
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July 26, 2017
Uncategorized
The long-anticipated out-of-court settlement allowing the restructuring of arrears owed by private sector companies to the Greek state and to banks goes into effect as of 3. August 2017, when the electronic platform opens for submissions. A total of 300,000 companies have the chance to solve their financial indebtedness. The …
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February 11, 2017
Culture
The Greek state is to take over the ‘Megaron’ Athens Concert Hall Organisation’s unpaid debts to the European Investment Bank (EIB) for a 150-million-euro loan taken out in 2003. The loan was guaranteed by the Greek state. Based on a decision signed by Alternate Finance Minister George Chouliarakis and posted …
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