Greece recalled its ambassador from Austria, following Austria's decision to close its border for migrant. While majority of people are not satisfied with government's way in handling economic crisis.
Greece
Greece Implements Six-Day Working Week for Select Industries to Combat Tax Evasion
The Greek government has launched a six-day working week initiative starting in July, allowing extended weekly hours with overtime compensation, primarily for round-the-clock businesses.
IMF Chief Lagarde Vows To Speedy Conclusion In Greek Bailout Review
In response to a letter from the Greek Prime Minister Alexis Tsipras, Christine Lagarde, the IMF chief, has binned the Wikileaks’ transcript. Since IMF doesn’t act on leaks, she decided to allow the IMF team to resume the postponed bailout review. She has stressed the need for a speedy conclusion of the bailout review just for the sake of the Greek people.
Hoist Finance confirms talks with Bank of Greece over partnership
Hoist Finance Publ AB has confirmed that negotiations are going on for strategic partnership with Bank of Greece. If fruitful, the strategic partnership may generate more opportunities in Greece economy through Hoist Finance.
Eurogroup and IMF Will Begin Talks on Greece Debt Relief in April
Eurogroup President Jeroen Dijsselbloem said to begin review on Greece debt soon. The group will renew talk after Greek government continue its reform plan.
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For seven sessions in a row, European stocks suffered losses amid growing concerns about the global economy growth. The lower oil prices, disappointing quarterly results and sluggish global markets are also taking a toll on European stocks. Indicating the alarming situation in the European financial sector, the cost insuring debt against default reached its peak since 2013.
Chobani, founded by billionaire Hamdi Ulukaya, turned down an offer made by Pepsico this Friday. The beverage giant wanted to buy out the majority stake in the Greek yogurt maker, but Chobani was only interested to sell the minority stake, resulting in the deal fallout.
The government of Greece has been faced with a controversy whether to approve bailout reforms required by international creditors. Bank of Greece have shown support that encourages the government to conform with the required reforms, including the tough pension system reform.
Greece was the highlight in 2015 economy when the country's economic crisis continued to a political unrest. The country faces 2016 with uncertainty after disagreement with its creditors.
As it has been going through all the year, the Euro group meeting will entirely be focused and dedicated to Greece only. Indeed, the Greek government expects to adopt all the remaining measures needed to get hold of €2 billion second sub-tranche of the bailout programme.
The ongoing recession in Greek economy after long-lasting uncertainty is projected to end in 2016 and may witness real growth in 2017, according to European Commission (EC). The unsuccessful conclusion of second adjustment program of bailout package continued and worsened the economic recession in the ailing Greece economy further weakened the recovery prospects in the first half of 2015.
Greek tech company Globo Plc said that its Chief Executive Officer Costis Papadimitrakopoulos and Chief Financial Officer Dimitris Gryparis have resigned after they disclosed falsified financial data at the company.
If you are heading for Greece for sightseeing, be sure to have extra cash ready. That's because the cash-strapped country is raising prices of tickets to tourist spots as early as April.
By the middle of next year, Greece will go back to its economic growth only if the government will give importance and devoted attempt to reacquire financial strength.
