Nationwide Strike Grips Greece: 24 Hours of Transport Paralysis
A nationwide strike in Greece has brought the country's transport networks to a standstill, affecting railways, ferries, buses, taxis, and more
The Greek Parliament should pass fresh legislation by Wednesday if it is to receive new bailout assistance, Finnish Finance Minister Alexander Stubb has said.
Stubb made his comments just after the Eurogroup's Sunday session on Greece ended to give way to a meeting of Eurozone leaders.
The latter was initially meant to be a European Council bringing together leaders of all 28 member states, but EU Council President Donald Tusk called off the summit on Sunday morning.
Eurozone leaders discussed for a few hours until the meeting broke for consultations. This was immediately followed by meeting of Greek PM Alexis Tsipras with German Chancellor Angela Merkel, French President Francois Hollande, and EU Council President Donald Tusk.
Meanwhile, a statement issued after the Sunday meeting is circulating through media outlets which suggests the country could need up to EUR 86 B in fresh financing over the next three years. This is the same document that was leaked by various media outlets which suggested Germany had offered a five-year period for Greece to remain out of the Eurozone - an idea that sparked much anger among some EU officials.
Finland's finance head later added that Greece "needs to implement laws by July 15", to carry out tough conditions in a range of areas, including labor reforms, pensions, VAT and other taxes, as well as privatization and privatization funds.
At the same time European Parliament President Martin Schulz said at a press conference in Brussels that "Greece and its people must not be humiliated."
"I cannot remember such a situation to have [occurred] ever in European politics," Frankfurter Allegemeine Zeitung quotes Schulz as saying.
Austria's Finance Minister had earlier suggested that negotiations can only be successful if Athens adopts reforms as early as Monday.
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As the Hungarian forint experiences volatility, German investors are increasingly advocating for Hungary to adopt the euro, reaching the highest level of support in over a decade
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
Concerns are mounting within the European Parliament regarding potential Russian interference in the forthcoming parliamentary elections, coupled with apprehensions surrounding Russian-owned properties in Bulgaria
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In a significant affirmation of Bulgaria's path towards Eurozone accession, European Commissioner for Economy Paolo Gentiloni has confirmed the European Commission's support for Bulgaria's admission to the Eurozone in 2025
In a recent interview with "Fakt", Polish President Andrzej Duda made a significant statement, expressing Poland's readiness to permit NATO allies to deploy nuclear weapons on its territory
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