Latest News from Greece

Fed-up young Greeks head abroad

A lack of meritocracy and corruption are the main reasons why talented young Greeks head abroad for work, according to ICAP People Solutions, an international human resources services provider.

The results of the group's research regarding the country's brain drain were presented last month within the framework of the 3rd Human Capital Summit.

Icons stolen from Epirus church

Eleven icons were reported stolen Tuesday from a church in a remote village on the Greek-Albanian border.

Sex-trafficking ring busted in Athens suburb

Police said Tuesday that they have unraveled a sex trafficking gang and arrested two of its members - a 48-year-old Greek and a 36-year-old Albanian - in Glyfada, southern Athens, and in western Attica. Police are also looking for a 30-year-old Albanian woman.

Greek poverty deepens during seven years of austerity

Over the past seven years, austerity has left visible scars in Greece's capital. A walk around Athens reveals more homeless people than ever despite some signs of a rosier economic outlook. Thousands of shops, mostly small businesses, are shuttered here and across the country. In what used to be a busy shopping arcade, closed stores are padlocked against a backdrop of hanging Greek flags.

Greece wants to tap bond markets soon after debt relief deal with lenders

Greece said on Tuesday it wants to tap bond markets soon after reaching a comprehensive deal with its international lenders, including debt relief.

Greece expects to conclude talks on fiscal issues and reforms by May 22 to conclude a crucial bailout review which will pave the way for the disbursement of vital loans.

IMF says Greek debt relief still needed after bailout deal

A deal between Greece and its international lenders for more fiscal reforms settles one issue that has blocked the International Monetary Fund's financial participation in the bailout, but debt relief is still needed, an IMF spokesman said on Tuesday.

Moscovici welcomes deal, calls for 'understanding' on debt

Pierre Moscovici, the European commissioner for economic and financial affairs, has called a preliminary deal between Greece and its lenders "a very positive development."

"It is time to turn the page on this long and difficult austerity chapter for the Greek people," Moscovici said in a statement Tuesday.

Greek gov't aims to legislate measures by May 16

Greek government spokesman Dimitris Tzanakopoulos has described a deal with lenders on bailout-mandated reforms as "balanced," adding that the administration aims to legislate the new measures by May 16.

Ivan Savvidis: “The Greek PM Tsipras reminded me of Vladimir Putin”!

The Greek-Russian businessman and owner of PAOK FC in the Thessaloniki, in a rare interview he gave to “Proto Thema” he surprises everyone with a lot of what he says.

Ivan Savvidis came out openly as a strong supporter of the Greek Prime Minister Alexis Tsipras.

Pledging more austerity, Greece cuts deal with lenders

Promising to cut pensions and give taxpayers fewer breaks, Greece has paved the way for the disbursement of further rescue funds from international lenders and possibly opened the door to reworking its massive debt.

Greek bond yields hit 2-1/2-year low after bailout breakthrough

Greek government borrowing costs hit their lowest since late 2014 on Tuesday after its government announced that it had agreed a deal on bailout reforms, paving the way for a disbursement of rescue funds.

ESM: Deal paves way for debt relief talks

The agreement on Greek pension and income tax reforms reached on Tuesday morning paves the way for discussions on debt relief for Athens, the eurozone bailout fund ESM said in a statement.

PMI: Greek factory activity shrinks in April for eighth straight month

Greek manufacturing activity contracted in April for the eighth month in a row as a marked decline in new business led to production cuts and job cuts, a survey showed on Tuesday.

Markit's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about 10 percent of the economy, rose to 48.2 from 46.7 in March. Readings below 50 denote contractions in activity.

ND will not support new bailout pact, spokesman says

Greece's largest opposition party, the conservative New Democracy, said on Tuesday it would not support the deal cut by Athens and its lenders when it comes to Parliament.

"We will not vote in the new austerity measures that cut pension and tax Greece more," spokesman Vassilis Kikilias told Reuters.

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