
An exclusive article by the financial newspaper Handelsblatt on the public debt of Eurozone countries and the Commission’s plans refers in particular to Greece.
As the article notes: “The Commission wants to monitor more closely the reduction of debt in the Eurozone in the future and also to give national governments more flexibility. According to Handelsblatt information from Brussels, each government will in the future have to agree with the Brussels authorities on a specialized, multi-year debt reduction plan. The Commission is thus adapting the Stability and Growth Pact to the new reality after the coronavirus pandemic. Brussels maintains a debt ceiling of 60% of GDP as a long-term target. However, the Commission wants to introduce a new gradual target of 90% for so-called high-risk countries such as Italy and Greece.”
Read also: Greek economy can prevail without a new exit to markets
And the article continues: “These Eurozone countries are under increased pressure to become stricter until they have reduced their debt to 90%. They will have to find a sustainable way to reduce the debt within the next four years. The Commission will likely present its proposal to reform the Stability and Growth Pact in November. Until now it wanted to present the plan at the end of October, but internal agreements must come first. The Stability and Growth Pact has been suspended since the beginning of the coronavirus pandemic in the spring of 2020. It is scheduled to enter into force again in 2024, but in a form that will contain new reforms.”


Latest News

Corruption Still Plagues Greece’s Driving Tests
While traffic accidents continue to claim lives on Greek roads daily, irregularities and under-the-table dealings in the training and testing of new drivers remain disturbingly widespread

Pope Francis Died of Stroke and Heart Failure Vatican Confirms
As news of the official cause of death spread, tributes poured in from across the globe. The 1.4 billion-member Catholic Church is united in grief, remembering a pope who championed inclusion, justice, and compassion

Increase in Both Museum Visits, Revenues for 2024
As expected, the Acropolis was the top archeological site in the country, followed by Sounion, Mycenae, the ancient theater of Epidaurus, and Vergina in northern Greece

Where Greece’s Tourists Come From: A Look at 2025’s Top Visitor Markets
The United Kingdom continues to hold the top spot as the largest source of incoming tourism, with 5.6 million seats booked for Greece this summer — up 2.2% from last year. This accounts for 20% of all international air traffic to Greece

Pope Francis: A Pontiff Who Reshaped the Papacy and Sparked a Global Conversation
His first words from the balcony of St. Peter’s Basilica—“Brothers and sisters, good evening”—set the tone for a pontificate that would challenge norms, favor mercy over dogma, and bring the papacy closer to the people.

When Blue Skies was Unmasked as ND’s Political ‘Slush Fund’
The fact that so many top New Democracy (ND) party cadres were paid by the firm Blue Skies, owned by Thomas Varvitsiotis and Yiannis Olympios, without ever citing this publicly, raises very serious moral issues, regardless of the legality

Greek Women’s Water Polo Team Top in the World after 13-9 Win Over Hungary
The Greek team had previously defeated another tournament favorite, the Netherlands, to reach the final.

S&P Raises Greek Rating; BBB with Stable Outlook
S&P’s decision raises the Greek economy to the second notch of investment grade ladder, at BBB with a stable outlook.

Greek Tourism Optimistic About Demand from American Market
A recent survey by MMGY Global, conducted from April 3–5 with a sample of 1,000 U.S. adults, found that 83% of Americans still intend to take leisure trips over the next 12 months, a slight drop from 87% in late February

New Exposé by Domumento Reveals Nefarious Triangular Link of ‘Black Money’ with New Democracy, Blue Skies, & Truth Team
The latest exposé by the Documentonews.gr news site lays bare what appears to be a surreptitious path of indirect financing of ND through the business sector—transactions that, as widely understood, rarely occur without expectations of reciprocal benefit