A draft of the supplementary memorandum agreement between Greece and its creditors has revealed nearly $1.09 billion in additional social security contributions and cuts to government spending for 2018.
In January, Greece managed a primary surplus of $1.07 billion, well above the target of $709.7 million thanks to increases in certain taxes, including corporate taxes, direct taxes and VAT on oil and tobacco products.
Giorgos Houliarakis, Greece's alternate finance minister, said recently on state-run television network that it would be in the country's best interest to find any solution now to bailout talks rather than wait for a better solution later.
The Hellenic Banking Association (HBA) recently released the results of a study of Greece’s banking sector a year and a half into the imposition of capital controls, offering a snapshot of the country’s crisis-battered industry.
Union of the Greek Shipowners (EEE) President Theodore Veniamis outlined the organization’s efforts to push the European Union to recognize the International Maritime Organization (IMO) as a benchmark at a recent EEE meeting.
A recent meeting of the current Greek leadership party's political council, chaired by Prime Minister Alexis Tsipras, has fueled speculation that the party will agree to demands from European creditors to conclude the second review of the Greek program.
Following the International Monetary Fund’s (IMF) recent report on the Greek bailout, steps toward compromise between the IMF and European creditors make it likely that Greece will face pressure to meet its commitments.