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United Kingdom

George Georgiopoulos

EU clears Greek Hercules plan to cut $33 billion bad loans

10 Oct 2019

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.

Greece's Eurobank struggles to flip loan-recovery unit to PIMCO: sources

04 Oct 2019

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.

Greek workers stage walk out against reform on strike action

24 Sep 2019

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.

Thomas Cook's collapse strands about 50,000 in Greece, hotels fret

23 Sep 2019

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

Thomas Cook's collapse strands about 50,000 in Greece, hotels fret

23 Sep 2019

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.

Greece aims for 30 bln euro sour loan clean up via Hercules scheme

18 Sep 2019

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.

Greece's NBG to sell four soured loan portfolios by year-end -bankers

18 Sep 2019

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.

Greek PM outlines tax cuts in 2020, promises reforms

08 Sep 2019

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.

Greek economic growth gains pace, boosted by net exports

04 Sep 2019

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.

Greek housing sector rebounds at strongest clip in more than 12 years

02 Sep 2019

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.

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