NEWS

Stay up to date with the latest market news and interesting articles, as collected by Zoia

Economic Confidence in Greece Jumps to 12-Year High in July

The index measuring confidence in the Greek economy jumped to 105.3 points in July from 101 in June, the highest level seen since March of 2008, the Foundation for Economic and Industrial Research (IOBE) said in their monthly report, released on Thursday.

The IOBE stated that economic expectations improved in all business sectors during the month of July in Greece, while consumer confidence rose to a 12-year high.

Capital Controls to Be Lifted by the End of September, 2019

The Bank of Greece and the Greek government are ready to completely lift capital controls in Greece, media reports suggested on Thursday.

The restrictions to capital imposed in June of 2015 will be lifted by the end of September of 2019, the reports suggest, as both the Government and the Bank of Greece point to the many positive upgrades given to the Greek economy by major global rating agencies.

Greece Is the Good News Story in Europe

ATHENS — If you’re looking for an optimistic story in Europe, try Greece. Yes, you read that right. Having lost a quarter of its economy in a devastating recession, Greece has turned the corner, its democracy intact, its extremist temptations defeated and its anti-Americanism defunct.

New Greek government bill will cut ENFIA property tax by more than 20%

ATHENS – Keeping his vow, new Prime Minister and New Democracy leader Kyriakos Mitsotakis’ government is planning to cut the hated ENFIA property tax surcharge by 20 percent, a mostly unfulfilled promise by the previous ruling Radical Left SYRIZA.

Greece hails success of 7-year bond issue

Greece's first post-election bond issue fetched 2.5 billion euros on Tuesday, securing a yield of 1.9 percent and a strong interest by long-term investors, according to the Greek national news agency AMNA

New Greek government to cut ENFIA property tax 30% within two years

ATHENS – Capitalizing on the former ruling Radical Left SYRIZA’s failure to abolish the hated ENFIA property tax surcharge – instead of increasing it to meet the demands of the country’s creditors – the New Democracy government said it will be cut 30 percent.

Greece to Cut Controversial Property Tax by 30 Percent Over Two Years

The new Greek government will introduce new legislation before Parliament by the end of July which would reduce the Single Property Tax (ENFIA) by approximately 30 percent for all property owners within a couple of years, starting in 2020.

Europe’s Former Pariah Could Be Headed for New Era: Taking Stock

The elections “will usher in a new era for Greece, and after a decade of distress, Mitsotakis will catapult the country toward full economic normalization,” says Cullen Thompson, chief investment officer at New York-based Bienville Capital, which owns Greek stocks. Markets have started to sense the change but are “vastly underestimating” its full impact, as the cycle turns more virtuous, he says.