The European Union and International Monetary Fund, who, along with the European Central Bank, make up Greece’s Troika of lenders of last resort, have issued a report damning the country’s tax collection system as broken. To indicate the size of the problem, the report takes the example of “big business tax collection office.” an office created [...]
Tag Archives | Troika
EFSF’s Regling Says Greece Needs Time
With two bailouts and three years of austerity measures failing to right Greece’s faltering economy, Klaus Regling, Chief Executive officer of the European Financial Stability Facility (EFSF) says the country will need more time before reforms work but he didn’t say how much. In an interview with the French newspaper Le Figaro, he also said [...]
ECB’s Asmussen Presses Cyprus Deal
A European Central Bank (ECB) Executive Board member, Jorg Asmussen, said it’s critical for the stability of the Eurozone to finalize a bailout deal for Cyprus’ faltering economy by the end of March, a month after the country’s Presidential elections. Asmussen, a member of the German Social-Democratic Party, insisted that a rescue package equivalent of those Greece, [...]
Cypriot’s Troika Bailout Deal Still Elusive
While Cypriot officials said on Nov. 23 they had reached a deal with international lenders for a bailout, no agreement has been reached and the prospects are still fraught with problems. According to the newspaper Fileleftheros, the first test will be on Dec. 12 when a meeting of Eurozone finance ministers is scheduled to discuss [...]
ECB Mulls Profit Loss to Help Greece
The European Central Bank is considering a plan to give back almost 9 billion euros ($11.52 billion) to Greece from the profits it makes through its holdings of Greek bonds as part of a scheme by international lenders to reduce the country’s debt-to-GDP ratio to 120% by 2020 from nearly 180 percent now, which would [...]
Growing Worry Over Depression in Greece
The World Association of Psychosocial Rehabilitation has focused on Greece and the effects of austerity after almost three years of deep budget cuts. The 11th Congress of the organization took place in Milan, Italy and was focused on psychological health in Greece and the way health institutions operate after the huge cuts. The general assembly [...]
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05 / 18 Greek Truck Overturns in West Bulgaria
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05 / 17 Greek NGO Organizes ECOWEEK 2013 in Copenhagen
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05 / 17 Sarakatsani at MuCEM
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05 / 17 Greek Tycoon Marchessini’s Rear View Of Women
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05 / 17 Volkan Awarded International Beer Honors
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08 / 04 Turkish Prime Minister Erdogan Reportedly Claims Olympic Flame is Turkish
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01 / 24 Intercultural Association Macedonia Cuts Vasilopita
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07 / 28 IOC President Jacques Rogge Calls London Home of The Olympics; Forgets Greece
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05 / 03 Skopje: Streets Renamed With Ancient Greek Names
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05 / 22 Philip II of Macedonia Statue in Skopje Defies NATO
