Troubled Asset Relief Program

Over €8 bln spent on houses in Greece last year

The funds invested last year in the housing market nationwide are estimated at over 8 billion euros, highlighting the upward trend in demand but also in prices.

This amount is high considering both the fact that banks no longer finance 100% of the value of properties to be purchased, and the fact that only 20% of purchases and sales are made through bank lending.

Bavarian finance minister sees Grexit likely

Greece will not last in the eurozone in the long run and officials working on a review of its bailout package should prepare for such a possibility, a senior member of the Bavarian sister party of Chancellor Angela Merkel's conservatives said.

Greece has lost a quarter of its national output since it first sought financial aid in 2010.

In Photos: Local authorities in Adıyaman stir outcry for sitting under tent as schoolkids get wet

Local authorities in Turkey’s southeastern province of Adıyaman have generated a public outcry for sitting under a comfortable tent during rain-sodden Republic Day celebrations on Oct. 29, while schoolchildren scrambled under tarp to avoid getting wet.

Greece Starts Talks on New Bailout Package with Creditors

Discussions on a third bailout package have started in Athens between Greek authorities and representatives of Greece's international creditors, the European Commission announced on Monday.

A Greek government spokeswoman, however, said that high-level talks would not begin until later this week, according to the BBC.

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