Tag Archive | "greece"

Greece delays stress tests ahead of NBG rights deal (Reuters)

Reuters – Greece will delay stress testing of its banks until October to allow its largest lender to complete a big rights issue, part of efforts to begin financing its economy again on international markets.

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IMF-EU delay Greek bank tests: report (AFP)

The Greek International Bank is seen in central Athens. A stress test on the health of the banking system in debt-stricken Greece has been postponed to allow the authorities more time to prepare, the Financial Times reported on Monday.(AFP/File/Angelos Tzortzinis)AFP – A stress test on the health of the banking system in debt-stricken Greece has been postponed to allow the authorities more time to prepare, the Financial Times reported on Monday.

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EU, IMF assure investors on Greek aid – source

ATHENS (Reuters) – Greece’s international lenders assured investors this week that they would not abandon Athens at the end of a 3-year bailout plan if it fulfilled tough reforms but failed to regain market trust, a source told Reuters on Sunday.

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Greek budget cuts on track but risks remain – IMF

ATHENS (Reuters) – Greece is on track to slash its budget deficit according to plan this year, but needs to further improve tax collection and control spending to sustainably shore up its finances, the IMF said on Tuesday.

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Greece raises $1.5 billion in debt sale (AP)

Truck drivers walk next to their parked trucks at Athens- Patras highway, in  Aspropyrgos, 20 kilometers (12 miles) west of Athens during a protest on Monday, Sept. 13, 2010. A new wave of protests began Monday, with truckers declaring a work stoppage and parking hundreds of vehicles along major highways to protest plans to liberalize their profession.(AP Photo/Petros Giannakouris)AP – Greece raised euro1.17 billion ($1.5 billion) in an oversubscribed sale of 26-week treasury bills Tuesday, in the first of a regular monthly debt issue as Greece tests the market’s appetite for buying Greek debt.

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Greek prime minister outlines economic policy (AP)

Greek Prime Minister George Papandreou talks during a keynote speech on the economy in Thessaloniki, Greece on Saturday, Sept. 11, 2010. Thousands of Greeks have taken to the streets in union-led protests against the debt-plagued country's harsh austerity program. (AP Photo/Dimitri Messinis)AP – Greece’s prime minister has promised to lower some corporate taxes to help revive the debt-plagued country’s shrinking economy, while thousands of protesters marched — mostly peacefully — against the government’s harsh austerity measures.

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Greek rate of deficit reduction slows (AP)

A policeman looks on as trucks are lined up in central Athens during a protest Wednesday, Sept. 8, 2010. Truck drivers, protesting changes in licensing rules, caused serious fuel shortages during a July strike. Greece's Socialist government, battling a major financial crisis, is facing strong opposition from unions and professional groups over plans to relax rules in tightly-regulated professions. (AP Photo/Alkis Konstantinidis)AP – The rate at which Greece is narrowing its budget deficit slowed slightly over the summer, although the country is still on track to meet the targets laid out in an agreement with the International Monetary Fund and EU, finance ministry figures showed Friday.

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National Bank of Greece plans €2.8bn fundraising

Greece’s largest bank is planning to raise €2.8bn ($3.5bn) in new capital in a move designed to bolster confidence in the Greek banking sector

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Greek FinMin: recession to be milder than forecast (AP)

Truck drivers perch on railings outside the Transport Ministry during a protest in Athens July 29, 2010. Greek truckers ended a six-day strike on Sunday, handing a victory to the socialist government in its efforts to liberalise the recession-hit economy. REUTERS/John Kolesidis/FilesAP – Greece’s finance minister says his country’s recession is milder than expected and that the economy will shrink by less than the forecast 4 percent this year.

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Summary Box: Austerity moves hit Greek recession (AP)

AP – THE DROP: Greece’s gross domestic product fell 1.5 percent from the previous quarter. The unemployment rate, meanwhile, rose to 12 percent in May with nearly one in three young people out of work.

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