Financial crises

Eurozone neutral to positive toward Greek plan for early IMF repayment

Senior eurozone officials were neutral to positive this week to a plan presented by their Greek peer for Athens to repay earlier some of its costly loans from the International Monetary Fund, a senior EU official said on Friday.
Greece, cut off from the markets during the sovereign debt crisis of 2010-2015, borrowed heavily from the IMF and eurozone governments.

Overtaxation led to tax evasion

Losses incurred by the state coffers due to tax evasion in 2014-17 were greater than the value-added tax revenue increase as a result of consecutive tax hikes, according to a European Commission report on the so-called VAT deficit (the difference between the expected VAT revenues and actual collections).

Mali: Rise in salaries and pensions till the end of year, pension rise on January 1st

According to the finance minister, public sector employees can expect their salaries to rise by the end of the year.
Finance Minister Sinisa Mali said in an interview for RTS that the pensioners would receive a once-off payment of 5,000 dinars by the end of year, while the pension rise can be expected from January 1, 2020.

National, Alpha’s Q1 results show rise in profits, efforts to clear NPLs

National and Alpha, two of Greece's top banks, alongside Piraeus and Eurobank, continued their bid to rid themselves of their bad loans, half-year results revealed on Thursday. Both banks' efforts to repair their balance sheets resulted in significantly improved profits.

No tax cuts without plan

Having hit the ground running, Greece's conservative administration is eager to show that it is already working to cut tax rates - which was one of its main campaign pledges.

Nevertheless, there are signs that certain government officials themselves are nourishing - and cultivating among the public - excessive expectations.

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