Euclid Tsakalotos

IMF revises medium-term growth rate downward

The International Monetary Fund has upwardly revised its short-term forecasts while lowering its medium-term forecasts for Greek growth in its October 2018 World Economic Outlook, which will be published on Tuesday in the context of its annual meeting in Bali, Indonesia this week. Finance Minister Euclid Tsakalotos will also be present at the event.

Greek finance minister says sour loans at banks 'totally manageable'

Greece's finance minister said on Thursday the challenge of wrestling down non performing loans at the country's commercial banks was 'totally manageable'.

Euclid Tsakalotos told lawmakers all Greek banks had reached and exceeded targets set on reducing their stockpile of bad loans. [Reuters]

Gov't says speculation behind sharp drop in bank shares

A big sell-off in Greek banking shares in the Athens Stock Exchange on Wednesday was the result of "speculative pressures" and do not reflect the fundamentals of the sector, the government said.

The banking index plunged more than 17 percent in intraday trading to end 8.78 percent lower.

ADEDY protesters barge into Finance Ministry in Athens

About 30 members of Greece's civil servants' union (ADEDY) protesting government plans to abolish the benefits and status of arduous and unhealthy professions on Wednesday stormed the Finance Ministry in Athens demanding that they meet with Finance Minister Euclid Tsakalotos to discuss the issue.

Earlier on Wednesday unionists held a rally outside the State General Accounting Office.

Tax-free ceiling cut up in the air too

After the claim to negotiating the prevention of pension cuts, Finance Minister Euclid Tsakalotos stated on Wednesday in Parliament that the government will also seek to avert the reduction of the tax-free ceiling from January 2020, in an effort to cancel the entire agreement with its creditors voted by the House just a year ago.

IMF to insist on pension cuts

The International Monetary Fund on Thursday issued a flat denial to the government's request to cancel the implementation of the planned pension cut in January 2019, while Finance Minister Euclid Tsakalotos appeared reserved about Berlin's attitude as he responded to investors' questions in London a day after meeting his German counterpart.

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