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Registered unemployed rise in December by nearly 25,000 people

The number of unemployed people registered with Greece’s Manpower Organization (OAED) came to 1,072,652 in December, showing a rise of 24,991 from the same month in 2015, when they came to 1,047,661. Monthly data published by OAED the number of registered unemployed seeking employment but also those who stated that they are not looking for work rose by 6,236 in ...

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Uncertainty over bailout review and the role of the IMF

Despite the recent development on short-term debt relief for Greece, the bailout program review has not yet concluded. Aside however from the review itself, the role of the International Monetary Fund in the Greek program has not yet been resolved. Given the recent clash between the European Commission and the IMF’s Poul Thomsen in relation to Greece, the negotiations to ...

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No agreement reached between Greek government and institutions

The latest talks between the Greek government and the representatives of the institutions on the second bailout review, which concluded at 5:30am on Tuesday, did not result in an agreement between the two sides. As the representatives leave Athens, to continue talks via teleconference, a series of critical issues remain unresolved. Greek officials commented that the two sides were closed ...

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US Election 2016: Asia markets jolted by Trump win

Asian stocks have fallen sharply as Donald Trump beat Hillary Clinton in the race for the White House. All regional markets closed lower, with money flowing into safe haven stocks, gold and currencies including the yen. Japan’s Nikkei 225 dropped by 5.4% while European and US markets are expected to slide when trading resumes on Wednesday. Traders had expected a ...

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EU-IMF meet in Brussels on Greek reforms

The EU and IMF met in Brussels on Friday to agree on how to coax Greece into more economic reforms linked to its bailout and unlock more funds, with one EU official saying they hoped for a deal by Sunday. Mission chiefs of Greece’s European Union and International Monetary Fund lenders left Athens for consultations in Brussels, adjourning their bailout ...

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A crowdfunding initiative was launched to support Greece’s former statistics chief

Colleagues of Greece’s former statistics chief, who faces accusations of falsifying fiscal data, have launched a crowdfunding initiative to help cover defence costs as his legal troubles look set to continue. Andreas Georgiou, a veteran International Monetary Fund statistician, was appointed head of statistics service ELSTAT in 2010 with a mandate to restore the credibility of Greek statistics a few ...

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Hungary has repaid an 8-year-old loan

Hungary’s central bank said today it had fully repaid a multi-billion-euro loan it took out in 2008 from international lenders to prop up its wobbling economy during the financial crisis. “A joyful day has dawned on us, we are finally over a long and difficult period,” Economy Minister Mihaly Varga said in Budapest today. The EU member state had been ...

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Debt haircut impossible with Greece in the Eurozone, says Merkel

German Chancellor Angela Merkel insisted Tuesday that Berlin wants the International Monetary Fund to remain part of the Greek bailout but ruled out a debt haircut for Greece. “The German position is that the IMF is taking part in an agreement. We want a quick conclusion to these talks,” Merkel said after meeting with IMF Managing Director Christine Lagarde and ...

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The Greek debt is sustainable until 2022, says Economy Minister

Greek Economy Minister George Stathakis called “out of place” and “misleading” reports on an alleged “reversal of the Greek government’s position on the debt”. According to reports, Stathakis speaking on Tuesday at the Greek-German Business Forum organized by the Economist in Berlin has allegedly said that the Greek debt is sustainable until 2022 and the issue is its long-term sustainability. ...

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