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ECONOMY

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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Gualtieri appeared optimistic on evaluation and reforms of Greek economy

A visit to Greece by European Parliament representatives in order to oversee the “democratic implementation” of the new bailout agreement was completed today, with the head of the group, Mr. Roberto Gualtieri, describing it as “positive and successful.” The mission of representatives from the European Parliament was completed with meetings they held with the Governor of the Greek Bank and ...

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Thessaloniki metro line waits for funding in order to be completed

The president of Athens Attiko Metro Yannis Mylopoulos estimated that the first metro line in Thessaloniki will be operational by 2020 and that the whole project will be finished by 2026. He was confident that these deadlines can be met, provided that the main lines are included in the “Juncker” investment package. This, he explained, is necessary in order to ...

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Greek Finance Ministry will seek 5.5 billion for an agreement with creditors

Greece’s Government Council for Economic Affairs decided on Monday night that measures worth 5.5 billion euros are needed in order for Athens to come to an agreement with creditors on the bailout program. According to a government official under conditions of anonymity, creditors agreed that Athens should take measures equivalent to 3 percent of GDP, not 4.5 percent as the ...

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Oil price drops before it rises again

Oil prices fell on Tuesday, reflecting growing concern that a two-month rally may be in danger of fizzling, while analysts forecast another rise to record levels for US crude stockpiles. The oil price has risen more than 45% since mid-February, ahead of a meeting next month between the world’s major producers to discuss an output freeze to support prices. There is ...

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Greece welcomes inspectors again this week

Inspectors from the European Commission, the European Central Bank, the European Stability Mechanism and the International Monetary Fund are expected to return to Athens this week following a break for Catholic Easter to continue their review of Greece’s bailout program. The focus is on ways to cover an estimated fiscal gap of 1 percent of GDP, or 1.8 billion euros, ...

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Relaxation of capital controls is expected in May

  Bankers don’t rule out the possibility that capital controls be lifted in Greece, as long as things go according to plan in the coming months. Bank management sources estimate that by the end of April most of the evaluation will be closed, a necessary condition for a series of positive news as resetting the waiver by the ECB, and upgrading ...

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Professions that will thrive in crisis-stricken Greek labour market

Which are considered jobs of the future? Which sectors will have more demand on the basis of earnings? These questions and not only were answered at a conference organized by the E-Learning section of the National and Kapodistrian University of Athens and the think-tank “In Deep Analysis”. The conference presented the results of a survey on the prospects of industries ...

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Read all the changes to capital controls in Greece

Relaxation of capital controls on three fronts was decided by the Greek Finance Ministry, after a long study of their impact on the finance system. The three key changes that will be applied with the respective ministerial decision have to do with the premature breaking of time deposits, loan repay and remittances to other countries. Specifically: – Breaking of time ...

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Varoufakis advises on Brexit

Tips for a correct Brexit were given by former Greek Finance Minister Yannis Varoufakis. According to what Mr Varoufakis said in an interview with Bloomberg, the mistake of the Prime Minister of Scotland Alex Salmond was to announce a referendum on the independence of Scotland, while keeping pound as currency. He also stressed that if the British decide to lead ...

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