greek economy

It is irrational in the current conditions of stagnation and continuing crisis for public investment to be constantly dropping.

'The Greek middle class suffered over the last years from high contributions. Tax policy is one of the main reasons for the drop in the government’s polling numbers,' Handelsblatt reported.

Mitsotakis is running as the man who can re-unite a country deeply divided by the polarising strategy of a ruthless tactician.

The measures include the gradual reduction of business tax over four years from 29% to 25% (it fell to 28% this year), a reduction of the ENFIA real estate tax in certain lower income categories, and a rent subsidy,

'The result of the European election whetted the appetite of the political establishment in Greece and of extreme, conservative circles in Brussels which want to dispute our central political choices and hinder our plan,' the PM said.

It is no coincidence that Portugal borrows with much lower interest rates than Greece, as the yield on ten-year bonds demonstrates.

The cost of the package of measures announced by the PM is between 1.1 and 1.4 percent of GDP annually, which could exceed five billion euros over two years.

“Now that we have an improvement in the terms of borrowing for the Greek state, one should expect an improvement of the terms of borrowing for Greek banks.  We may now have fewer banks, but they are stronger and the future belongs to them,” Stournaras declared.

The report underlines that in general there has been an unwelcome fiscal loosening in implementing reforms agreed to with Greece’s creditors and European partners over the last several months

Citizens in the recent elections punished the government for its failure to deliver on the economy, and the reaction of markets is hardly encouraging.

The stock market party is a reaction to the result of the 26 May European Parliament election as New Democracy won the contest by an unexpectedly large margin, the financial daily opines.

The credit rating agency projected that the recent improved climate will lead to a hike in deposits, a gradual reduction of non-performing loans (NPLs), and improved prospects for profit.

Over-taxation was a conscious choice of the government, which aimed to collect funds for electoral handouts at the end of its term.

After four lost years it is time to set aside ideological fixations and the ills that entrapped us in underdevelopment.

Greece has enormous capabilities. Unfortunately they are not being exploited and the results are tragic, as evidenced in the brain drain and the shrinking of the population.

At the peak of the tourist season employees in the hotel and food industries numbered 411,000 and accounted for 16.7 percent of employment.

Prime Minister Alexis Tsipras has depicted himself as the protector of the poor and vulnerable and his opponent as a monster out of the Book of Revelation

The erstwhile enemy of the bailout memorandums ended up accepting the third and worst adjustment programme and said that he did so in the name remaining in the eurozone, which until then he had blamed for all of the country’s ills.

'Above all, our objective is to bolster the social economy – including agricultural cooperatives and energy communities,' the finance minister said.

The 26 May European Parliament and local elections are a dress rehearsal for the upcoming parliamentary election.

Asked about Tsipras’ package, Scholz said that Greece is part of the wider success story of the eurozone, as all countries which had funding problems have been able to return to regular borrowing

The reality is that all too many households in the country are still experiencing the harsh impact of the crisis.

Mitsotakis said Tsipras' economic stimulus programme, including tax cuts, is too little too late and is in no way a growth programme.

The cut in the VAT tax on food and restaurants and on electricity and gas bills as well as an annual bonus of half of a month’s pension annually for retirees is targeting a solid group of voters

Tsakalotos maintained that the government aims to tax the haves more than the have-nots who have borne the brunt of the crisis.