Europe Top News and Analysis Greece

  • BERLIN, Dec 10- German Finance Minister Olaf Scholz's plans for a 1.5 billion euro financial transaction tax drew criticism from across the spectrum on Tuesday, with some labelling it investment "poison" and opposition politicians saying it did not go far enough. But the proposal won strong backing from allies, with French Finance Minister Bruno Le Maire...

  • BERLIN, Dec 10- Finance Minister Olaf Scholz expects a planned new financial transaction tax to generate annual revenues of around 1.5 billion euros initially in Germany, much of which will offset the cost of a new basic pension, a Finance Ministry document showed. Under plans drawn up by Scholz and sent to ministers from nine other European Union states, they...

  • LONDON, Dec 9- Italian and Greek government bonds- the riskier assets in the euro zone government bond market- strongly outperformed their peers on Monday, brushing aside waning risk appetite across global markets. Bonds from Italy and Greece would usually not be expected to underperform on days where investors shun risk assets. Greece's 10- year bond yield...

  • LONDON, Dec 5- Measles infected nearly 10 million people in 2018 and killed 140,000, mostly children, as devastating outbreaks of the viral disease hit every region of the world, the World Health Organization said on Thursday. The United States has already reported its highest number of measles cases in 25 years in 2019, while four countries in Europe- Albania,...

  • ATHENS, Dec 5- Cyprus has petitioned the International Court of Justice in The Hague to safeguard its offshore mineral rights, its president said on Thursday, upping the ante with neighbour Turkey which disputes its claims. Cypriot President Nicos Anastasiades said Cyprus is committed to protecting its sovereign rights with every legal means possible.

  • ATHENS, Dec 5- Cyprus has petitioned the International Court of Justice in The Hague to safeguard its offshore mineral rights, its president said on Thursday, upping the ante with neighbour Turkey which disputes its claims. Cyprus's internationally recognised government discovered offshore gas in 2011 but has been at loggerheads with Turkey over maritime...

  • People in Germany are the most financially secure of any country in Europe, according to a poll.

  • *Italy coalition divided over ESM reform. ROME, Dec 2- Prime Minister Giuseppe Conte told parliament on Monday a contested reform of the euro zone's bailout fund was in Italy's national interest, but that it should only be adopted as a package alongside other measures. A reform of the European Stability Mechanism is due to be approved by the bloc's countries this...

  • *Italy coalition divided over ESM reform. ROME, Dec 2- Prime Minister Giuseppe Conte told parliament on Monday a contested reform of the euro zone's bailout fund was in Italy's national interest, but that it should only be adopted as a package alongside other measures. A reform of the European Stability Mechanism is due to be approved by the bloc's countries this...

  • *Italy coalition divided over ESM reform. ROME, Dec 2- Prime Minister Giuseppe Conte told parliament on Monday a contested reform of the euro zone's bailout fund was in Italy's national interest, but that it should only be adopted as a package alongside other measures. A reform of the European Stability Mechanism is due to be approved by the bloc's countries this...

  • ISTANBUL/ ANKARA, Nov 28- Libya's internationally recognised government and Turkey have signed an agreement on maritime boundaries in the Mediterranean Sea that could complicate Ankara's disputes over energy exploration with other countries. Libya's neighbour Egypt dismissed the deal as "illegal", and Greece said any such accord would be geographically...

  • Greece dismissed the announcement as geographically absurd because it ignored the presence of the Greek island of Crete between the coasts of Turkey and Libya. Tensions are already running high between Athens and Ankara because of Turkish drilling in the eastern Mediterranean off the coast of the divided island of Cyprus, and the European Union has...

  • TIRANA, Nov 26- At least six people have died after the most powerful earthquake to hit Albania in decades rocked the capital of Tirana and surrounding region early on Tuesday, causing several buildings to collapse and burying residents in the rubble. The 6.4 magnitude quake struck shortly before 4 a.m. local time, the U.S. Geological Survey said, the second...

  • TIRANA, Nov 26- At least four people died after the most powerful earthquake to hit Albania in decades rocked the capital of Tirana and surrounding region early on Tuesday, causing several buildings to collapse and burying residents in the rubble. The 6.4 magnitude quake struck shortly before 4 a.m. local time, the U.S. Geological Survey said, the second powerful...

  • ATHENS, Nov 25- Greece concluded the early repayment of expensive loans from the International Monetary Fund, the country's finance ministry said on Monday. The move allows Athens to reduce its debt-servicing costs, because IMF loans carry higher interest than Greece would now pay in the market. In October, the euro zone's rescue fund, the European Stability...

  • ATHENS, Nov 21- Greece expects its economy to grow by 2.8% next year, driven by higher investments, improving domestic demand and tax cuts as the country recovers from a decade-long debt crisis. Greece emerged from international bailouts supervised by its lenders in August 2018. Finance Minister Christos Staikouras told reporters on Thursday that Greece will...

  • LONDON/ ATHENS, Nov 19- Italy's biggest loan recovery firm doValue has emerged as the strongest bidder for Eurobank's loan servicing unit, sources familiar with the matter told Reuters, a deal critical for the turnaround of Greece's third largest lender. Eurobank is under pressure from European Central Bank supervisors to cut its problem loans, which comprise...

  • MILAN, Nov 15- The Bank of Italy has been collecting data on how efficiently the unpaid loans sold off by banks are being recouped, reflecting concerns about slow progress and the potential fallout for taxpayers, two sources familiar with the matter said. The Bank of Italy declined to comment. Italy has become Europe's biggest market for distressed bank loans, and...

  • A view of COSCO owned dock and yard in Piraeus on March 4, 2015. China Ocean Shipping Company, known as COSCO (COSCO Group), is the company in charge of transportation services in the biggest Port of Piraeus in Greece. COSCO undertook handles those operations in 2008. The deal between COSCO and the Greek government is one of the most controversial among privatizations that happened during Greece's debt crisis.

    China is looking to transform Greece's Piraeus port into the biggest harbour in Europe — making it the most crucial transit hub for trade between Asia and Europe.

  • THESSALONIKI, Greece Nov 14- Greece will have completed its early repayment of loans to the International Monetary fund by early December, Finance Minister Christos Staikouras said on Thursday. The move allows Athens to reduce its debt-servicing costs, because IMF loans carry higher interest than Greece would now pay in the market. In October, the euro zone's...