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Wednesday, June 19, 2013 2:31 PM PDT
The country is battling to rein in a bulging government debt that will reach 125% of GDP this year. Policymakers are hoping to reduce the domestic shortfall from 12.7% last year to less than 3% by 2012. To hit the targets, the Greek government plans to freeze civil servant pay, introduce taxes on wealthy estates, and increase tobacco and alcohol levies by 20%.
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By Reuters
Greece received a clean bill of health from its international creditors on Monday, securing more rescue aid and prompting its finance minister to say he would ask for much more debt relief if Athens keeps meeting its bailout targets. (Apr 15)
MORE TOPICS: IMF, GDP, EUROPEAN CENTRAL BANK, INTERNATIONAL MONETARY FUND
By IBTimes UK
Following six consecutive years of recession, Greece to record positive growth rate in 2014. (Dec 15)
MORE TOPICS: GDP, IMF, EUROPEAN UNION, INTERNATIONAL MONETARY FUND
By IBTimes UK
Buyback cuts Greece’s €63bn debt owned by private investors by a half. (Dec 08)
MORE TOPICS: EUROPEAN UNION, EUROPEAN SOVEREIGN DEBT CRISIS COVERAGE, UNEMPLOYMENT, IMF, INTERNATIONAL MONETARY FUND
By IBTimes UK
Transparency International's Corruption Perceptions Index places Greece 94th, below Bulgaria and Romania and the bottom spot in EU. (Dec 05)
MORE TOPICS: EUROPEAN UNION, AFGHANISTAN, PORTUGAL, GERMANY, HUMAN RIGHTS, JAPAN, SOMALIA
By IBTimes UK
Greece's finance ministry hopes to retire as much as €62bn in outstanding debt as Germany hints at possible writeoffs in 2015 (Dec 03)
MORE TOPICS: DEUTSCHE BANK, EUROPEAN UNION, GDP, INTERNATIONAL MONETARY FUND, LONDON
By Reuters UK
A write-down on Greek debt should not be part of the country's next rescue package, European Central Bank board member Joerg Asmussen told Germany's Bild newspaper ahead of Monday's euro zone group meeting. (Nov 25)
MORE TOPICS: IMF, PORTUGAL, GERMANY, EUROPEAN CENTRAL BANK, INTERNATIONAL MONETARY FUND
By Reuters UK
Greece's debt cannot be cut to 120 percent of GDP by 2020, the level deemed sustainable by the IMF, unless euro zone member states write off a portion of their loans to Greece, a document prepared for euro zone finance ministers shows. (Nov 20)
MORE TOPICS: IMF, GERMANY, GDP, EUROPEAN CENTRAL BANK, INTERNATIONAL MONETARY FUND
By Reuters
Asian shares rebounded on Thursday but sentiment was vulnerable due to uncertainty over a bailout for Spain and signs of Europe struggling to find a unified approach to tackling its debt crisis as global lenders wrangled over Greek restructuring. (Sep 26)
MORE TOPICS: CHINA, GOLD, JAPAN, COPPER, EUROPEAN CENTRAL BANK, QUANTITATIVE EASING
By Reuters
Asian shares were capped on Thursday as uncertainty over a bailout for Spain bailout dented sentiment, while global lenders' wrangling over Greek debt restructuring highlighted Europe's apparent difficulty to reach a unified approach to tackling its debt crisis. (Sep 26)
MORE TOPICS: GOLD, BARCLAYS, MANUFACTURING, JAPAN, COPPER, EUROPEAN CENTRAL BANK
By IBTimes
Both Eurogroup finance head Jean-Claude Juncker and German Chancellor Angela Merkel, who will meet with Greek Prime Minister Antonis Samaras on Friday, are under enormous political pressure to act tough with Greece and are expected to offer little room for renegotiation. (Aug 22)
MORE TOPICS: IMF, INTERNATIONAL MONETARY FUND
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