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The International Monetary Fund's "imprudent over-commitment of funds" leaves the institution "no choice but to pull the plug" on Athens, a renowned economist has said.
According to Steve Hanke, a Professor of Applied Economics at the Johns Hopkins University in Baltimore ant a Senior Fellow at the Cato Institute in Washington, IMF's intransigence with regard to recent Greek demands in debt talks could be easily explained with the "exceptional access" policy it applied to Greece for years.
Lending by the IMF is normally limited to up to 200% of a country's quota (contribution to the fund) in a year and 600% in total, whereas Greece has already received "an astounding 1 860%" of its quota, Hanke explains on the Huffington Post.
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A nationwide strike in Greece has brought the country's transport networks to a standstill, affecting railways, ferries, buses, taxis, and more
In a bold move to amplify their demands for higher wages and better working conditions, journalists across Greece have embarked on a 24-hour strike, effectively halting news broadcasts for the duration
In a demonstration of solidarity and protest against the government's economic policies, media workers across Greece have initiated a 24-hour strike, aligning themselves with the call for protests issued by labor unions
Bulgaria's Kristalina Georgieva has been appointed for a second term at the helm of the International Monetary Fund (IMF)
In a bid to uphold the principle of free access to beaches, Greek authorities have implemented strict regulations, warning of hefty fines for violators.
With the aim to bolster renewable energy infrastructure, the European Commission has greenlit funding of 1 billion euros for two key projects in Greece
The developments at Bulgaria's predominantly ethnic Turk DPS party will result in the foundation of an Islamist party for the first time in Bulgarian history, a historian has warned.
The Bulgarian National Bank has to change the way it publishes information about the banking system in Bulgaria, renowned economist Prof Steve Hanke has said.
"How could you believe a lie said by an anonymous person?" PR Expert and Novinite publisher Maxim Behar has said during a TV discussion about Internet trolls.
A terror attack is the least likely version to explain the incident with a suspected "homemade bomb" found in a bus traveling from Prague (Czech Rep.
In an article titled “Greece: Down and Probably Out”, Professor Steve Hanke argues that another Greek debt default is just around the corner.
Novinite is publishing an text by Isidoros Karderinis, a Greek author whose articles on the country's economy has been widely published in Greek and Spanish economy magazines.
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
