European Central Bank

New govt to cut income tax, raise contributions

The new government first plans to review the 2019 budget and amend it in line with the commitments enshrined in the coalition agreement.

Sustainable public finances are in line with the growth and stability pact and the respect of the fiscal rule is enshrined in the Constitution, Sašo Polanec of the Ljubljana Economics Faculty commented on this for the STA.

Structural shortcomings keeping Greek recovery at bay

"It is a national and pressing necessity for us to formally ask our partners for the activation of the support mechanism, which we jointly created in the European Union." Greeks are unlikely to forget the scene of George Papandreou standing in the springtime sun against the backdrop of Kastelorizo island's picturesque harbor announcing the country's recourse to its new creditors: the member-sta

Brussels defends debt relief

The European Commission on Wednesday defended the Greek debt relief measures that the Eurogroup decided in June, in a manner of response to the International Monetary Fund, which had deemed the debt easing inadequate to render the debt sustainable in the long term.