All News on Economics in Greece
Study: Saying ‘No’ is a big black hole sucking life out of future!
The announcement of the Referendum to take place on July 5 caused a multinational corporation to study the affects that the ‘no’ vote would have on society and the Greek economy. The company, that wishes to remain anonymous, studied all the repercussions of ‘no’.
EFSF tells Athens that it can demand immediate return of 140 bln euros in loans
The European Financial Stability Facility (EFSF) has reportedly sent Greece’s General Accounting Office a letter stating that it is within its rights to immediately demand repayment of the loans given to the country, as part of the second bailout package.
The decision was reportedly sent to the Greek side by EU Commissioner Pierre Moscovici.
‘Haircut’ scenarios ahead of referendum vote
Projections for a “haircut” of Greek bank accounts vary between 27 to 55 percent if the ECB requests a return of roughly 120 billion euros funneled to Greek systemic banks as liquidity.
Such a nightmare scenario could be one of the repercussions of a possible delay in any new bailout agreement, regardless of a “yes” or “no” vote in Sunday referendum.
Default veteran Argentina expresses solidarity with Greece
Argentina, which defaulted on a mountain of debt more than a decade ago, expressed solidarity with Greece Monday as it inches toward missing a critical debt payment.
Greece's woes are sending ripples through stock markets around the world and prompting worries the country may be headed toward abandoning the euro.
Closed banks and capital controls until referendum
In wake of MPs approving plebiscite, gov't agrees to emergency measures after ECB decides not to lift limit on liquidity
ECB considers tightening emergency funding for Greek banks
European Central Bank policy setters are considering tightening Greek banks' use of an emergency funding lifeline but keeping the back-up facility open, people familiar with the matter said.
Such a move would curb those lenders' access to a multi-billion-euro central bank support that they use to pay out deposits, making it harder for them to meet such demands.
Greek exit could boost zloty, Polish central bank governor says
By Dorota Bartyzel & Piotr Skolimowski
Poland could see its currency rise if Greece leaves the euro because its economy is the most balanced in the European Union, central bank Governor Marek Belka said.
Itemized: SYRIZA’s proposals to creditors in a nutshell
Under mounting pressure, Greece presented its new reform proposals to its Eurozone partners on Monday aimed at the release of 7.2 bn euros worth of bailout funds benchmarked for Greece. An agreement is needed to stave off a Greek default.
Greece already got eurozone debt relief, debt now sustainable, says ESM report
By Jan Strupczewski
Greece has already received debt relief from its eurozone creditors equal to half of its 2013 GDP in net present value terms, the eurozone bailout fund said in its annual report, noting Greek public debt was now high but sustainable.
Greece-Russia Political Agreement on Gas Pipeline 'Ready'
Greek Energy Minister Panagiotis Lafazanis has said that the political part of an agreement between Moscow and Athens over an extension to the so-called "Turkish Stream" pipeline is now ready to sign.
Bild report denied, Merkel wants Greece in Eurozone
A German government spokesman denied a report by German tabloid Bild that states that German Chancellor Angela Merkel was preparing for a Grexit. Speaking to Reuters, he said that Germany wants to keep Greece in the eurozone.
Euro falls as IMF walks out of Greek bailout talks
The euro fell on Friday as hopes for a Greek bailout deal took a hit after the International Monetary Fund pulled out of crunch talks between Athens and its creditors.
In Tokyo, the single currency was at $1.1229 and 138.63 yen, against $1.1260 and 139.00 yen in New York.
The dollar bought 123.47 yen against 123.45 yen.
ATHEX: Impasse in talks brings more losses
The Greek stock market?s benchmark returned to a southbound course on Wednesday, following another session of low trading volume, due to the lack of progress in negotiations between Greece and its creditors, while the sense that the entire market has been holding its collective breath for months now is palpable.
Bulgaria's GDP Growth Surpassed EU Average in First Quarter of 2015
According to the second estimate of Eurostat, which was released on Tuesday, Bulgaria's GDP growth surpassed the EU average in the first quarter of 2015.
The country's GDP in the first quarter of 2015 increased by 0.9 % compared to the previous quarter, while there was a 2 % growth compared to the same quarter in 2014.
Athens Stock Exchange: Downward spiral!
Equity prices tumbled at 11 a.m. on Friday on the Athens Stock Exchange (ASE) following the news that Greece would not be making its IMF debt repayment. The basic share price index fell 3.14 percent at 800.99 points and turnover at 10.85 million euros.