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Greece Economy News

09 Oct 2016

'IMF will stay out of Greek bailout, to take special status'

The International Monetary Fund will not join the Greek bailout programme but will likely accept a special advisory status with limited powers that keeps it at the table, two senior sources with direct knowledge of the proposals said.

07 Sep 2015

Alexis Tsipras vows battle to improve bailout after Greek election

In a campaign speech in the northern town of Thessaloniki, Tsipras offered no new policy ideas but pledged thousands of new jobs and an attack on corruption.

13 Aug 2015

Greek economy grew 0.8% in Q2, averted recession in Q1

The figures showed second quarter growth up 1.4 per cent compared to the same period the previous year.

10 Aug 2015

Greece to cut MP tax breaks, minister salaries: Tsipras

"The political system must be responsive to the feelings of society," Tsipras told ministers according to a government note.

31 Jul 2015

Greek PM defends Varoufakis over Grexit 'defence plan'

"Of course, I personally gave the order to prepare a team to prepare a defence plan in case of emergency," Tsipras told parliament. without elaborating.

22 Jul 2015

Greek PM Tsipras faces key bailout vote test on Wednesday

A first set of reforms that focused largely on tax hikes and budget reforms triggered a rebellion in his party last week and passed only thanks to votes from pro-EU opposition parties.

20 Jul 2015

Greek banks reopen as Tsipras eyes return to normal

Queues formed outside bank branches in central Athens as people waited to take care of business frozen during the three week-long bank holiday.

16 Jul 2015

ECB raises emergency funding to Greek banks by 900 mn euros

The increase corresponded to the amount requested by the Bank of Greece, Draghi said.

15 Jul 2015

Greek PM Tsipras tells lawmakers he needs their support to stay

"I am prime minister because I have a parliamentary group that supports me. If I do not have its support, it will be difficult to be prime minister the day after," he told the lawmakers, according to the official.

14 Jul 2015

Greek PM faces 'Gordian Knot' to pass reforms for deal

Having staved off financial meltdown with a new agreement from Greece`s international creditors, Tsipras now faces the anger of lawmakers and the public for agreeing to measures much tougher than those rejected in a referendum on July 5.

13 Jul 2015

Impact of Greek developments will be indirect: Finance Secretary

Ongoing developments in Greece have only indirect implications for India and their impact, if any, is difficult to quantify, Finance Secretary Rajiv Mehrishi said on Monday.

06 Jul 2015

UK will do `whatever is necessary` to protect its economy after Greek vote

Britain will do "whatever is necessary to protect its economic security", a government spokesman said Monday after Greeks voted overwhelmingly against austerity in a referendum that could send them crashing out of the eurozone with unknown consequences.

03 Jul 2015

'Yes' camp takes slim lead in Greek bailout referendum poll

Supporters of Greece`s bailout terms have taken a wafer-thin lead over the "No" vote backed by the leftist government, 48 hours before a referendum that may determine the country`s future in the euro zone, a poll showed.

01 Jul 2015

Greek PM says accepts creditor terms but with conditions: EU sources

Greek Prime Minister Alexis Tsipras has written to creditors saying he is ready to accept bailout terms but has insisted on several further conditions, European sources said Wednesday.

30 Jun 2015

Merkel says Germany won't negotiate new deal with Greece before referendum

She said that this applied regardless of whether new offers were made on Tuesday, suggesting it was now too late to vet them. Merkel placed the blame on the Greek government for allowing its bailout programme to expire tonight.

30 Jun 2015

India comfortably placed to withstand Greek crisis fallout

India Inc on Tuesday said the country's economy is comfortably placed to deal with risks that might arise in case Greece defaults on the debt repayment due to the International Monetary Fund.

25 Jun 2015

Greek debt talks stumble before EU leaders gather

Eurogroup ministers cut short an emergency meeting summoned to approve an agreement after little more than an hour because there was no deal ready for them to discuss.

24 Jun 2015

Greek PM summoned to Brussels for debt deal talks

Greek Prime Minister Alexis Tsipras was summoned to Brussels for a decisive meeting with key EU-IMF creditors Wednesday as eurozone finance ministers try to finalise a debt deal and avoid a default by Athens.

24 Jun 2015

Greece in `final stretch` of talks: Varoufakis

Crisis-hit Greece is in the "final stretch" of negotiations with creditors and could reach agreement shortly, Finance Minister Yanis Varoufakis indicated Wednesday.

19 Jun 2015

Euro zone to discuss handling Greek defaut if no new proposals: Sources

Euro zone finance ministers will discuss how to hand a looming Greek default at a meeting on Monday unless Athens submits new proposals in the loans-for-reforms talks, EU officials said.

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