With bad loans in Greece more than 35 percent of bank holdings, the Bank of Greece has nevertheless said it opposes the idea of a single so-called “bad bank,” that would gather up all of them to determine who could pay, as government-imposed austerity measures have left many Greeks unable to afford their debts.
The first Sunday openings for retail stores in major cities at the height of Greece’s tourist season has brought disappointing sales.
Greek ministers this week can expect a memo telling them to step up the pace of reforms demanded by international lenders.
With bad loans near 40 percent in Greece, a review of debtors found only about 20 percent can afford to pay banks what they owe.
Greece’s international creditors are reportedly considering making debt relief for Athens conditional on reforms being kept up.
Greece will continue with worker layoffs and firings as part of its deal with international lenders, Administrative Reform Minister Kyriakos Mitsotakis said.
Greek Premier Antonis Samaras and Chinese President Xi Jinping reinforced political and business ties during a meeting on the island of Rhodes.
In a meeting including the Government Vice-President and Foreign Minister Evangelos Venizelos, as well as Finance Minister Gikas Hardouvelis at the Maximos Mansion government headquarters […]
ATHENS – Greek authorities on Monday reported a primary budget surplus of 712 million euros in the first six months of the year from a […]
LONDON — The European Central Bank is coming under increasing pressure to do more to stem the strength of the euro currency, which is hurting […]