Category: economy

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Banks extend moratorium of loan payments to December 31, 2020

Greek banks, members of the Hellenic Bank Association, on Tuesday announced the extension of measures to support enterprises and individuals hit directly and indirectly by the pandemic crisis and of a moratorium on debt payments until December 31, 2020. In an announcement, the banks said they remained steadfast on the active, direct and efficient support […]

IPTO, Eurobank sign 400-million-euro agreement to fund Crete-Attica interconnection grid

“Ariadne Interconnection”, a subsidiary of IPTO S.A. (Independent Power Transmission Operator) and Eurobank on Wednesday announced the signing of a loan agreement up to 400 million euros to finance the project of “Crete-Attica electrical interconnection” with a total budget of 1 billion euros. The administrations of IPTO S.A., Ariadne Interconnection and Eurobank, represented by the […]

Greek FinMin presents policy priorities for post-coronavirus era

Greek Finance Minister Christos Staikouras presented the government’s eight policy priorities in the post-Covid era which include a gradual reduction of tax rates and primarily of social insurance contributions, dealing with a high private debt and privatizations. Addressing the 10th Nicosia Economic Congress, Staikouras said these policies were:1. Implementing a prudent fiscal policy, with a […]

Gov’t to table new installment plan for tax, insurance obligations in July

An emergency plan for the repayment of outstanding debts accrued during the coronavirus pandemic in 12 interest-free or 24 low-interest payments will be tabled in parliament in July, according to Finance Ministry data. The interest on the 24-installment plans is expected to be close to 2.5 pct, lower than that of current plans. In addition […]

Banks fear bankruptcy loopholes

The new bankruptcy code being drafted is evolving into a bone of contention between the government and banks. The credit sector fears that the bill, which would allow a state entity to buy and lease back to debtors their homes, includes loopholes that could lead to a repeat of phenomena generated by the protection framework of […]