Greek Economy

The Psyche spacecraft is targeted to travel to the asteroid using solar-electric (low-thrust) propulsion, following a Mars flyby and gravity assist.

Greece has successfully exited its final, three-year bailout programme, agreed in August 2015 to help it cope with the continued fallout from a debt crisis.

Addressing the debt burden of the beleaguered nation will require "significant debt relief" from European institutions, the IMF said in its annual report on the Greek economy, which includes a debt sustainability analysis.

Greece is required by its euro zone creditors to pass wide-ranging reforms and sell state assets under an 86 billion euros ($92 billion) bailout programme.

Greece's latest austerity measures are choking off one of its few sources of local private investment, the funds management industry, thanks to massive tax hikes buried in 7,500 pages of financial reforms approved by the parliament last month.

The move came after the Greek parliament approved another round of spending cuts and tax increases demanded by international creditors.

Finance ministers from the world's largest developed economies met in Germany a year ago against a backdrop of faltering global growth, scant inflationary pressures and the latest chapter in the Greek debt crisis.

International Monetary Fund Managing Director Christine Lagarde denied on Sunday that IMF staff would push Greece closer to default as a negotiating tactic on a new Greek bailout deal, which she said was "still a good distance away".

Greece and its creditors on Monday began a first review of the country's new bailout amid a wave of demonstrations by farmers and professionals against a controversial pension reform that is part of the fiscal overhaul.

Greece's central bank chief has urged the country's government to implement bailout reforms agreed with lenders, warning that backtracking would entail risks the economy could not withstand.

Most Greeks are pessimistic and anxious about their country's economic situation in 2016, a poll showed on Saturday.

The eurozone economy is set to continue its moderate recovery over the next two years in the wake of the Greek bailout crisis, despite headwinds from the wider global economy, the EU said on Thursday.

Four major Greek banks must find up to 14.4 billion euros ($15.8 billion) to survive potential economic shocks, the European Central Bank said on Saturday after they underwent an in-depth financial health check.

Greek Prime Minister Alexis Tsipras told lawmakers on Monday that debt relief is essential for the crisis-hit country to return to growth and regain access to market financing by the first half of 2017.

Moody's has maintained its deep junk "Caa3" credit rating for Greek government debt, but has upgraded its outlook following recent political breakthroughs.

The Psyche spacecraft is targeted to travel to the asteroid using solar-electric (low-thrust) propulsion, following a Mars flyby and gravity assist.

Greece has successfully exited its final, three-year bailout programme, agreed in August 2015 to help it cope with the continued fallout from a debt crisis.

Addressing the debt burden of the beleaguered nation will require "significant debt relief" from European institutions, the IMF said in its annual report on the Greek economy, which includes a debt sustainability analysis.

Greece is required by its euro zone creditors to pass wide-ranging reforms and sell state assets under an 86 billion euros ($92 billion) bailout programme.

Greece's latest austerity measures are choking off one of its few sources of local private investment, the funds management industry, thanks to massive tax hikes buried in 7,500 pages of financial reforms approved by the parliament last month.

The move came after the Greek parliament approved another round of spending cuts and tax increases demanded by international creditors.

Finance ministers from the world's largest developed economies met in Germany a year ago against a backdrop of faltering global growth, scant inflationary pressures and the latest chapter in the Greek debt crisis.

International Monetary Fund Managing Director Christine Lagarde denied on Sunday that IMF staff would push Greece closer to default as a negotiating tactic on a new Greek bailout deal, which she said was "still a good distance away".

Greece and its creditors on Monday began a first review of the country's new bailout amid a wave of demonstrations by farmers and professionals against a controversial pension reform that is part of the fiscal overhaul.

Greece's central bank chief has urged the country's government to implement bailout reforms agreed with lenders, warning that backtracking would entail risks the economy could not withstand.

Most Greeks are pessimistic and anxious about their country's economic situation in 2016, a poll showed on Saturday.

The eurozone economy is set to continue its moderate recovery over the next two years in the wake of the Greek bailout crisis, despite headwinds from the wider global economy, the EU said on Thursday.

Four major Greek banks must find up to 14.4 billion euros ($15.8 billion) to survive potential economic shocks, the European Central Bank said on Saturday after they underwent an in-depth financial health check.

Greek Prime Minister Alexis Tsipras told lawmakers on Monday that debt relief is essential for the crisis-hit country to return to growth and regain access to market financing by the first half of 2017.

Moody's has maintained its deep junk "Caa3" credit rating for Greek government debt, but has upgraded its outlook following recent political breakthroughs.