Latest News from Greece

Eurobank swings to profit in 2016

Eurobank was profitable for a fourth straight quarter in October-December but earnings shrank despite slightly lower provisions for bad debt.

The third-largest Greek lender by assets, in which the national bank rescue fund owns a 2.4 percent stake, on Wednesday reported net earnings of 38.3 million euros, down 55 percent from 85 million in the third quarter.

OPAP's core earnings drop in fourth quarter

Greece's OPAP, Europe's fourth-biggest betting firm, on Wednesday posted a 19.2 percent drop in fourth-quarter core profit, hurt by an austerity tax.

OPAP, which was fully privatized in 2013, currently offers sports betting and lotteries through a network of about 5,750 outlets in Greece and Cyprus.

Greek gov't bond yields tumble

Greek government bond yields tumbled to multi-week lows on Wednesday after Reuters reported that Greece had reached an agreement with its lenders on some of the main issues in the indebted country's current bailout talks.

Short-dated Greek bond yields fell to a two-month low of 7.47 percent and were last down 50 basis points.

Greece Agrees With Creditors on Review of Rescue Programme

Greece has reached an agreement with its creditors from the EU and the IMF on key reforms regarding the labour market, cutting expenditures and energy issues, thus moving closer to reaching a preliminary deal concerning the review of the fulfilment of the third rescue programme before the meeting of Finance Ministers of the Euro zone on April 7, reported Reuters, citing sources close to the neg

8 energy giants show interest in oil exploration in Greece

Eight foreign oil and petrol companies have expressed interest in collaborating with Hellenic Petroleum Group, revealed the company’s general manager of exploration and production Yiannis Grigoriou, Wednesday. Total, Shell, Repsol, Japex, Dana Petroleum, INA and Hunt are in talks with ELPE to start hydrocarbon exploration in the areas of Arta-Preveza and the north-eastern Peloponnese.

Greek military exercise includes US, Israeli forces (photos)

The US Ambassador to Greece, Geoffrey R. Pyatt attended the 2017 “Iniohos” military exercise that kicked off at Andraviga air base. The military exercise is led by the Hellenic Air Force and includes forces of NATO allies and partner nations. The US, Israel, the United Arab Emirates and Italy also took part in the exercise, expanded to include land and navy forces for the first time.

Greece, EU/IMF lenders said to agree on key labor reforms, pension cuts

Greece has agreed with its lenders on key labor reforms, spending cuts and energy issues, moving closer to clinching a deal before a meeting of eurozone finance ministers on April 7, sources close to the talks said on Wednesday.

A spokeswoman for the European Commission said the EU executive could not confirm the report.

Stuck in reverse

One does not need to look very hard to find out what it is that makes Greece a "special case," thwarting efforts to pull the country out of the persisting crisis. While being mired in stagnation, public debate revolves around the role and legacy of Greek communist and resistance hero Nikos Beloyiannis.

ESM: Medium term measures to be decided Aug. 2018

A spokesman for the European Stability Mechanism, the eurozone's bailout fund, has said that possible additional debt relief measures for Greece could be decided only at the end of the bailout program, contrary to Athens's hopes of an earlier deal to reduce its huge debt.

Greek gov't does not confirm report on preliminary deal with lenders

A Greek government official said Wednesday that reports of a preliminary deal between Greece and its foreign lenders on the terms of the country's bailout program could not be confirmed.

"No comment. When the deal is made, you will learn it officially and not through a leak," said the official on condition of anonymity.

Commission 'cannot confirm' reports of deal between Athens, lenders

The European Commission has not confirmed news reports released earlier Wednesday claiming that a preliminary agreement has been reached between Athens and its foreign lenders.

"We saw the media reports on this; I cannot confirm," said Annika Breidthardt, coordinating spokesperson for economic and financial affairs for the Commission, in Brussels.

European Commission does not confirm preliminary deal on Greek bailout

 

A European Commission’s spokeswoman said on Wednesday that the EU executive could not confirm reports of a preliminary deal between Greece and its international creditors on the terms of the country’s bailout programme.

ND slams 'unreliable' government in wake of Tsakalotos comments

Greece's conservative opposition has reacted to comments made by Finance Minister Euclid Tsakalotos who said in Parliament Tuesday that tax hikes introduced by the left-led government have mostly hit the pockets of the country's middle class.

Pages