BRUSSELS/ATHENS Plans to cut bad loans at Greek banks by up to 30 billion euros ($33 billion) gained approval on Thursday from the European Union, which said they did not violate state aid rules.
LONDON/MILAN/ATHENS Greece's Eurobank is struggling to finalize a deal to sell a majority stake in its loan-recovery business to U.S. money manager PIMCO, sources familiar with the matter told Reuters, after a Sept. 30 deadline passed with no agreement.
ATHENS Ships stayed in port and public buses and trains ran on reduced services in Greece on Tuesday as workers staged their first mass walkout since a new conservative government took office in July.
ATHENS About 50,000 tourists are stranded in Greece and mainly on island resorts after British travel firm Thomas Cook collapsed, the tourism minister said on Monday as extra flights were booked to ease their return home. | Video
ATHENS About 50,000 tourists are stranded in Greece and mainly on island resorts after British travel firm Thomas Cook collapsed, the tourism minister said on Monday as extra flights were booked to ease their return home.
ATHENS, Sept 18 Greece expects a green light from European Union authorities shortly to put in place an asset protection scheme that will help its banks offload up to 30 billion euros of sour loans, bankers close to the process told Reuters on Wednesday.
ATHENS, Sept 18 National Bank (NBG) plans to sell four portfolios of non-performing loans this year, bankers close to the process said, as Greece's recovering economy allows its major banks to focus on balance sheet repair after a 10-year debt crisis.
THESSALONIKI/ATHENS Greece's prime minister detailed tax cuts for austerity-hit Greeks and companies strained during a decade-long debt crisis, and promised reforms aimed at convincing lenders to ease the nation's fiscal target from 2021.
ATHENS Greece's economy remained on the path of recovery in April-to-June, with its pace of expansion picking up from the first quarter thanks to a boost from net exports and government spending.
ATHENS The recovery in Greece's housing market gained speed in the second quarter with prices increasing at the strongest pace in more than 12 years, helped by an expanding economy and growing foreign interest, central bank data showed on Monday.
Hong Kong's legislature on Wednesday formally withdrew planned legislation that would have allowed extraditions to mainland China, but the move was unlikely to end months of unrest as it met just one of five demands of pro-democracy demonstrators.