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Tag Archives: reforms

Justice Ministry submits draft bill with tougher penalties for serious crimes

Greece’ Justice Ministry submitted to Palriament a draft bill a series of amendments to the penal and criminal justice code. The bill submitted on Tuesday following a period of public consultation and dialogue. The provisions in the bill were first presented by Justice Minister Konstantinos Tsiaras and Deputy Justice Minister …

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Greek PM announces reforms in supplementary pensions

During a cabinet meeting on Wednesday, Prime Minister Kyriakos Mitsotakis outlined the supplementary social security system reform scheduled to be voted in the Parliament in August. He said that the new system based on “Swedish model” will operate according to a pay-as-you-earn system of supplementary social security. The reform will …

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Greece’s Central banker calls for further tax reforms

Reforming the tax system is imperative to avoid upsetting fiscal balance in the post-pandemic period, Bank of Greece’s governor Yannis Stournaras said on Wednesday, addressing the Academy of Taxation and Accounting of the European Organization of Civil Law. In his speech, the central banker said it is necessary to change …

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German FM Maas:”Great respect” for Greece’s handling of migration

German Foreign Minister Heiko Maas expressed his “great respect” for Greece, both for the heavy burden placed upon it during the crisis and for the actions taken by the new government on migration and to speed up the pace of reforms. The German minister made the statement in a joint …

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ESM Regling: “Tax cuts to be coupled with bordering of tax base”

“Greece’s economy – fulfilling expectations after the elections”? Clearly, a new government brings the opportunity to present new priorities,” said the Managing Director of the European Stability Mechanism, Klaus Regling during his speech at the Economist Conference on Tuesday. Although the government has just been elected and details remain to …

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“Brussels Anonymous”: Greece at risk of not getting cash as reforms lag

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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Moody’s keeps Greece’s sovereign credit at B3, positive outlook

Ratings agency Moody’s keeps Greece’s sovereign credit rating unchanged at B3, with a positive outlook, in a credit opinion it issued on Wednesday. The international ratings agency noted that Greece’s prospects will remain positive as long as the government sticks to the reform program it has pledged, which illustrates that …

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Merkel and Macron agree to create budget for Eurozone, EU reforms

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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Greece deserves Debt Relief, austerity reforms must continue, says OECD chief Gurria

Greece has made an “enormous” reform effort since its debt crisis broke out and its international lenders must now grant the country debt relief, OECD chief Angel Gurria said while on a visit to Athens on Monday. Gurria, who met Greek Prime Minister Alexis Tsipras in Athens, urged Greece to …

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Greece, creditors resume talks on “reforms” and “fourth review”

Greece and its foreign creditors resumed talks on Monday over a set of reforms the country needs to implement before its multi-billion bailout program expires in August. Privatizations, electronic property auctions, an elimination of tax breaks in certain islands, labor and energy sector reforms, and measures to make Greek public …

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The little Caesar of EWG, Thomas Wieser: Only SYRIZA really embraced bailout reforms

He couldn’t help and couldn’t hide his political schadenfreude over the left-wing government of Greece. The man who rejected any early attempt by SYRIZA for relaxed austerity measures, the outgoing chairman of the non-institutional Euro Working Group that has exercised his full non-authorized power to raise or drawn Greece,  the …

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Germans remind the ECB that it urgently needs to change

With this and that on the festive days we forgot European institutions that urgently need to reform. At least, the Germans did not forget the issue and for one more time the criticized the European Central Bank. Even though the former German finance Minister Wolfgang Schaeuble remains quiet awaiting the …

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