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Study estimates tax evasion costs taxpayer up to 16 bln annually
EconomyTax evasion in Greece is estimated to range from 6 to 9 percent of GDP, involving tax losses from 11 to 16 billion a year – the equivalent of almost one third of public revenues – according to a new study conducted by Ernst and Young for the Athens-base...
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Study weighs up extent of Greek emigration during crisis
SocietyOver 427,000 Greeks aged 15 to 65 emigrated since the start of the Greek crisis in 2008, with the annual exodus trebling to 100,000 in 2013 alone, a new study from the central Bank of Greece claims. Unlike Greek emigrants in the last century, who were l...
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Lenders flag up minimum wage, trade union law among issues to be examined in next review
EconomyProgrammeIn a 21-page report that was submitted by the institutions to the Labour Minister Giorgos Katrougalos at the end of June and was leaked by Greek daily Eleftheros Typos on Sunday, the country’s lenders detail their proposals on the labour market reforms,...
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Coalition and opposition make proposal and counter-proposal in build-up to electoral law vote
PoliticsGreek PoliticsThe apparent bartering over the proposed changes to Greece’s electoral law is intensifying as the vote on the government’s bill approaches. The ballot is due to take place on Wednesday, July 20, and the government as well as the opposition are trying to...
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Greek stocks rebound for second straight week and edge up 2.5 pct
EconomyThe Greek equity market traded mostly in positive territory this week, ending 2.5 percent higher, even though banks underperformed. The trading activity remained extremely subdued in all sessions. During his one-day visit to Athens on Monday, the Europe...
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Political leaders weigh up next moves in August lull
PoliticsGreek PoliticsAs legislative activity dies down for August, and before the commotion that will undoubtedly accompany the next bailout review in the autumn, leaders’ moves on the domestic political chessboard are attracting attention. Prime Minister Alexis Tsipras has...
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Greece gears up for second review, faces wide-ranging reform to-do list
EconomyProgrammeThe government is expected to start negotiations with the institutions on the second programme review early this week. The start of the talks come in the wake of Greece implementation of the 15 prior actions needed to complete the first review, which wa...
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Lesvos tragedy, Erdogan threat ratchet up refugee crisis pressure
PoliticsGreek PoliticsTwo people were killed and another two seriously injured in a fire apparently caused by a cooking accident at the Moria refugee camp on Lesvos, highlighting the continuing challenges the Greek government faces in dealing with the refugee crisis and incr...
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Flare-up between Athens and IMF fuels doubts over review breakthrough
PoliticsGreek PoliticsThe omens for a productive visit by the institutions’ mission chiefs to Athens did not look particularly good on Monday as the dispute between Greece and the International Monetary Fund over fiscal targets in particular intensified just before talks wer...
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Greece and institutions wrap up latest talks with no progress on difficult issues
EconomyProgrammeDiscussions between the institutions’ mission chiefs and Greek officials continued on Thursday without any agreement on the out-of-court mechanism, energy, justice and product markets that were in focus during the meetings. Energy Minister Giorgos Stath...
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