With Greece on a disputed road to recovery from a crushing economic crisis, American investors and others from around the world are snapping up Greek bonds.
Greece’s new Finance Minister Gikas Hardouvelis gets a test on July 19 when he will try to convince the Eurozone the government is on target to meet fiscal reforms.
Greeks battered by austerity can now look forward to tax cuts and other measures to reverse social injustices the measures caused, Prime Minister Antonis Samaras has pledged.
The IMF should apologize to Greece for errors it made in bailout terms and other mistakes the agency made, a Wall Street Journal columnist has written.
Greece’s outgoing central bank chief said the country’s economy is on track to expand again after a punishing six-year recession but warned reforms must go on.
Departing Bank of Greece Governor Giorgos Provopoulos warned that Greece needs growth measures and can’t rely on austerity to recover.
SYRIZA chief Alexis Tsipras told European Central Bank President Mario Draghi the country needs to walk away from much of debt it owes international lenders.
Greece’s former finance minister Yannis Stournaras has been tapped to head the financially troubled country’s central bank, two days after he was replaced in a cabinet reshuffle. The Bank of Greece said it was nominating Stournaras to take over from the current governor, George Provopoulos, whose term expires next week. The order though comes from Prime Minister Antonis Samaras, the New Democracy Conservative party leader.
The IMF says Greece has made “significant progress” in reforming its economy but much remains to be done to pull itself out of its financial crisis.
Despite having a legal gambling monopoly, OPAP, and casinos, Greece is losing money to an underground gambling sector that is even bigger and growing fast.