ENGLISH EDITION

ENGLISH EDITION

ICI pulls the plug on 6 mln euro Athens property deal due to pandemic

ICI had offered a price of 5.9 million euros, according to sources, and moved to reduce the price, citing the impact of the pandemic. The seller, however, refused to budge on the price, and the deal was canceled, with Piraeus Bank expected to re-launch the tender possibly later this year.

01 Ιουν 2020 15:28

ENGLISH EDITION

Tourism minister clarifies directives on foreign tourists arriving in Greece

As Minister of Tourism Harry Theoharis told, «Tourists originating from airports listed on EASA are obliged to be tested once they land in Greece and remain at a designated hotel for one day," in order for the test results to be completed. "If the test turns out negative, these visitors will then be obliged to observe a 7-day quarantine».

31 Μάιος 2020 21:43

ENGLISH EDITION

Greece to put an end to disposable plastics as of July 2021

Κ. Hatzidakis said that the end to single-use plastics will be introduced to the public administration sector six months before it goes public, on January 1, he said, to allow businesses and the public ample time to adjust. He also announced that consumers will be provided with more incentives to encourage recycling of plastic single-use bottles, including a refund.

30 Μάιος 2020 19:43

ENGLISH EDITION

Aegean Airlines gets boost, sidesteps EU scrutiny

The package seems too small to support Aegean, but it is combined with measures to boost liquidity, which is the most important step: the company plans to ask from the country's four systemic banks for loans with government guarantees totaling 150 million euros, amounting to 11 percent of its turnover.

29 Μάιος 2020 14:20

ENGLISH EDITION

Alpha Bank speeds up transformation plan

According to sources, three special purpose vehicles (SPV) were set up in Ireland a few days ago, to which different categories of non-performing loans were transferred, as part of the Galaxy plan. At the same time, the bank has taken the necessary steps to obtain the assessment needed to make use of the state guarantees under the Hercules bad debt plan.

28 Μάιος 2020 14:11

ENGLISH EDITION

Greece looks at incentives to produce equipment for electric vehicles

According to sources, investments related to the construction of components and equipment for electric vehicles, ie batteries, transformers, chargers and general components related to this particular supply will be subject to low tax rates and reduced employer contributions.

27 Μάιος 2020 15:40

ENGLISH EDITION

Abrupt halt for Greece's Golden Visa program

According to May data, real estate transfers with residence permits reached 7,550, from 7,279 at the end of 2019, showing an increase of 271 residence permits in almost five months, while throughout 2019 3,172 permits were granted. This is a sharp drop in applications for the Golden Visa, showing that the program has come to a standstill.

26 Μάιος 2020 16:12

ENGLISH EDITION

Bank of Greece governor sees problems with Hercules plan, calls for bad bank solution

As the BoG governor Giannis Stournaras explained, the "Hercules" program that reduces problem loans through securitizations with government guarantees is progressing, but with problems, as the coronavirus pandemic affects securitization markets and the value of collateral.

25 Μάιος 2020 19:02

ENGLISH EDITION

Greek banks conduct stress tests on tourism businesses

Sources indicate that the extreme scenario of stress tests predicts zero revenue for a hotel business for this year, while for 2021 the projected revenue is adjusted to 65 percent of income recorded in 2019. For 2022, the projected revenue is considered to amount to 85 percent. 

22 Μάιος 2020 14:25

ENGLISH EDITION

Greek PM takes charge of new investment supervisory body

Development and Investment Minister Adonis Georgiadis reiterated what was outlined in the European Commission's sixth post-memorandum monitoring report on Greece, regarding the creation of a mechanism to help projects mature, under the supervision of the Prime Minister's Office.

21 Μάιος 2020 14:29

ENGLISH EDITION

Eurobank CEO: NPL plan being completed, bad bank is a positive step

Speaking at a press conference held to present the bank's program to support tourism businesses, the head of Eurobank noted that one of the effects of the crisis will be the increase in non-performing loans (NPLs). "I am optimistic that this time the problem will be much smaller and manageable. The banking system has better know-how in terms of managing bad debt", he said.

20 Μάιος 2020 15:01

ENGLISH EDITION

Banks see bad loan spike well below 10 bln euro mark

Bank officials say that it is too early to draw any safe conclusions about the level of new bad loans, adding that all forecasts for the domestic economy predict a strong recovery in 2021. Regarding this year's challenges, they highlight that the ECB has provided tools and flexibility for banks to support sustainable businesses and minimize the impact on their balance sheets.

19 Μάιος 2020 10:10