Eurozone

According to a study conducted by CESifo and cited by Deutsche Welle, the austerity programs that were imposed on debt-ridden EU members were painful, but inevitable...

The German Minister of Finances Wolfgang Schäuble gave an interview to the international news agency Reuters about how the IMF contributed towards increasing the credibility of European policy against the crisis. In the interview the German Minister claimed that the debt crisis in the Eurozone has “calmed down” and that he does not expect any […]

The government Vice President Evangelos Venizelos has responded to comments made by the SPD president, Vice Chancellor and Minister of Finances Sigmar Gabriel, who claimed that Greece is badly organized state and only managed to join the Euro in 2001 thanks to falsified divs. Mr. Venizelos stated that “Greece is state with problems just like […]

According to the international news agency Bloomberg, Greece’s European partners are currently discussion the possibility of extending the deadlines of Greek loans out, as well as reducing interest rates. In its report, Bloomberg cites European officials who claim that the next aid package to Greece will most likely include an extension of payment deadlines from […]

The European statistics authority Eurostat has announced that according to its latest set of divs, the rate of unemployment in Greece during October 2013 climbed to 27.8% from the 27.7% rate in September. Overall the rate of unemployment in the Eurozone between October and December 2013 remained stable at 12%, while the rate of unemployment […]

According to the latest data published by Eurostat, the Greek public debt was estimated at 171.8% of GDP at the end of the third trimester of 2013. This means that Greece continues to have the highest rate of debt in the European Union by far, followed by Italy (132.9% GDP), Portugal (128.7%) and Ireland (124.8%). […]

The Budget Office of Parliament published a progress report regarding the financial developments in Greece and the Eurozone, where it is revealed that Greece has not yet overcome their serious financial problems. As a result, new fiscal rules in the Eurozone are necessary. The report is based on the intention of Greece remaining within the […]