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Greek Government-debt Crisis Countermeasures
The Greek government-debt crisis is one of a number of current European sovereign-debt crises. In late 2009, fears of a sovereign debt crisis developed among investors concerning Greece's ability to meet its debt obligations because of strong increase in government debt levels. This led to a crisis of confidence, indicated by a widening of bond yield spreads and the cost of risk insurance on credit default swaps compared to the other countries in the Eurozone, most importantly Germany. Fight against corruption and tax evasion Methods to reduce tax evasion The OECD estimated in August 2009, the size of the Greek black market to be around €65bn (equal to 25% of GDP), resulting each year in €20bn of unpaid taxes. This is a European record in relative terms, and in comparison almost twice as big as the German black market (estimated to 15% of GDP). Another study found that seven out of 10 self-employed Greeks significantly under-report their earnings, with only 200 Greeks dec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greek Debt And EU Average
Greek may refer to: Greece Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group. *Greek language, a branch of the Indo-European language family. **Proto-Greek language, the assumed last common ancestor of all known varieties of Greek. **Mycenaean Greek, most ancient attested form of the language (16th to 11th centuries BC). **Ancient Greek, forms of the language used c. 1000–330 BC. **Koine Greek, common form of Greek spoken and written during Classical antiquity. **Medieval Greek or Byzantine Language, language used between the Middle Ages and the Ottoman conquest of Constantinople. **Modern Greek, varieties spoken in the modern era (from 1453 AD). *Greek alphabet, script used to write the Greek language. *Greek Orthodox Church, several Churches of the Eastern Orthodox Church. *Ancient Greece, the ancient civilization before the end of Antiquity. * Old Greek, the language as spoken from Late Antiquity to around 1500 AD. Other uses * ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister For Finance (Greece)
The Ministry of Finance ( el, Υπουργείο Οικονομικών) is the government department responsible for Greece's public finances. The incumbent minister is Christos Staikouras of New Democracy. Minister's role According to Article 73 of the Constitution of Greece, any bills relating to pensions must be submitted by the Minister of Finance. According to Article 75 of the Constitution, any bill relating to expenditure or a reduction in revenue must not be introduced unless accompanied by a special report on the bill, signed by the Minister of Finance. Finally, according to Article 79 of the Constitution, the Minister of Finance must bring the budget before the Hellenic Parliament at least one month before the start of the fiscal year, for it to be voted on. Lists of Ministers List of Ministers of Finance (1967–2000) List of Ministers of Economy and Finance (2000–2009) List of Ministers of Finance (since 2009) See also * Bank of Greece References Ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Davos
, neighboring_municipalities= Arosa, Bergün/Bravuogn, Klosters-Serneus, Langwies, S-chanf, Susch , twintowns = } Davos (, ; or ; rm, ; archaic it, Tavate) is an Alpine resort town and a municipality in the Prättigau/Davos Region in the canton of Graubünden, Switzerland. It has a permanent population of (). Davos is located on the river Landwasser, in the Rhaetian Alps, between the Plessur and Albula Ranges. The municipality covers nearly the entire valley of the Landwasser, and the centre of population, economic activity, and administration is two adjacent villages: Davos Dorf () and Davos Platz (''Davos'' ''Place''), at above sea level. Gaining prominence in the 19th century as a mountain health resort, Davos is perhaps best known today for hosting the World Economic Forum—often referred to simply as "Davos"—an annual meeting of global political and corporate leaders. With a long history of winter sport, Davos also has one of Switzerland's larg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Economic Forum
The World Economic Forum (WEF) is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab. The foundation, which is mostly funded by its 1,000 member companies – typically global enterprises with more than five billion US dollars in turnover – as well as public subsidies, views its own mission as "improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas". The WEF is mostly known for its annual meeting at the end of January in Davos, a mountain resort in the eastern Alps region of Switzerland. The meeting brings together some 3,000 paying members and selected participants – among whom are investors, business leaders, political leaders, economists, celebrities and journalists – for up to five days to discuss global issues across 500 sessions. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Economic Adjustment Programme For Greece
The First Economic Adjustment Programme for Greece, initially called the Economic Adjustment Programme for Greece and usually referred to as the first bailout package or the first memorandum, is a memorandum of understanding on financial assistance to the Hellenic Republic in order to cope with the Greek government-debt crisis. It was signed on 3 May 2010 by the Greek Government under then-prime minister George Papandreou on one hand, and on the other hand by the European Commission on behalf of the Eurogroup, the European Central Bank (ECB) and the International Monetary Fund (IMF). Of the totaling €107.3 billion of financial assistance, €72.8 billion were disbursed by 1 March 2012, when the programme was superseded by the Second Economic Adjustment Programme for Greece comprising the undisbursed amounts of the first programme and additional €130 billion for the years 2012–14. Background Having had the credit rating agencies further downgrade their assessment of Gre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fifth Austerity Package (Greece)
This article details the fourteen austerity packages passed by the Government of Greece between 2010 and 2017. These austerity measures were a result of the Greek government-debt crisis and other economic factors. All of the legislation listed remains in force. Background Membership in the European Monetary Union (EMU) has posed problems for some social classes, like the working class in Germany, and also on a countrywide scale for some EU members. Greece is in the latter category, along with Portugal, Ireland and Spain, presenting the problem of sovereign default, sometimes also called a "sovereign debt crisis". This situation originated with the tenuous integration of the periphery countries of the European Union into the eurozone and was made worse by the global financial crisis of 2007. Austerity was one of the policy measures available to governments to manage the economic downturn. Greek withdrawal from the eurozone is another alternative or institutional reform of the eurozo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fourth Austerity Package (Greece)
This article details the fourteen austerity packages passed by the Government of Greece between 2010 and 2017. These austerity measures were a result of the Greek government-debt crisis and other economic factors. All of the legislation listed remains in force. Background Membership in the European Monetary Union (EMU) has posed problems for some social classes, like the working class in Germany, and also on a countrywide scale for some EU members. Greece is in the latter category, along with Portugal, Ireland and Spain, presenting the problem of sovereign default, sometimes also called a "sovereign debt crisis". This situation originated with the tenuous integration of the periphery countries of the European Union into the eurozone and was made worse by the global financial crisis of 2007. Austerity was one of the policy measures available to governments to manage the economic downturn. Greek withdrawal from the eurozone is another alternative or institutional reform of the eurozo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greece - Public Revenue Vs Expenditure
Greece,, or , romanized: ', officially the Hellenic Republic, is a country in Southeast Europe. It is situated on the southern tip of the Balkans, and is located at the crossroads of Europe, Asia, and Africa. Greece shares land borders with Albania to the northwest, North Macedonia and Bulgaria to the north, and Turkey to the northeast. The Aegean Sea lies to the east of the mainland, the Ionian Sea to the west, and the Sea of Crete and the Mediterranean Sea to the south. Greece has the longest coastline on the Mediterranean Basin, featuring thousands of islands. The country consists of nine traditional geographic regions, and has a population of approximately 10.4 million. Athens is the nation's capital and largest city, followed by Thessaloniki and Patras. Greece is considered the cradle of Western civilization, being the birthplace of democracy, Western philosophy, Western literature, historiography, political science, major scientific and mathematical principles, theat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ease Of Doing Business Index
The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Higher rankings (a low numerical value) indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth effect of improving these regulations is strong. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as "founders" of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl. The report was discontinued by the World Bank on September 16, 2021, following the release of an independent audit of the data irregularities. The audit documented how bank leadership pressured experts to manip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Doing Business Report
The ease of doing business index was an index created jointly by Simeon Djankov, Michael Klein, and Caralee McLiesh, three leading economists at the World Bank Group. The academic research for the report was done jointly with professors Edward Glaeser, Oliver Hart, and Andrei Shleifer. Higher rankings (a low numerical value) indicated better, usually simpler, regulations for businesses and stronger protections of property rights. Empirical research funded by the World Bank to justify their work show that the economic growth effect of improving these regulations is strong. Though the first report was authored by Djankov, Klein, and McLiesh, and they continue to be listed as "founders" of the report, some sources attribute the genesis of the idea to Djankov and Gerhard Pohl. The report was discontinued by the World Bank on September 16, 2021, following the release of an independent audit of the data irregularities. The audit documented how bank leadership pressured experts to manipu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fakelaki
''Fakelaki'' or ''fakellaki'' is the phonetic transliteration of the Greek word φακελάκι. It means "little envelope" but is also used in Greek popular culture as a jargon term referring to the bribery of public servants and private companies by Greek citizens in order to "expedite" service. According to this practice, sums of money are stuffed in files and passed across the desk to secure appointments, documents approval and permits. Dynamics The Greek term "fakelaki" is close to the notion of tip in meaning, but it may also refer to specific ''tariffs'' demanded by government officials to bypass procedure. As of mid-2011, one in four employed Greeks worked for the government. Fakelaki is also connected to a work culture that perceives the various documents issued by authorities (for example a driving license) as "papers" needed to pay a price "to buy". Fakelaki is illegal, but its continuing presence in Greek life remains a problem. Extent Transparency International, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transparency International
Transparency International e.V. (TI) is a German registered association founded in 1993 by former employees of the World Bank. Based in Berlin, its nonprofit and non-governmental purpose is to take action to combat global corruption with civil societal anti-corruption measures and to prevent criminal activities arising from corruption. Its most notable publications include the Global Corruption Barometer and the Corruption Perceptions Index. Transparency International serves as an umbrella organization. From 1993 till today its members have grown from a few individuals to more than 100 national chapters which engage in fighting perceived corruption in their home countries. TI is a member of G20 Think Tanks, UNESCO Consultative Status, United Nations Global Compact, Sustainable Development Solutions Network and shares the goals of peace, justice, strong institutions and partnerships of the United Nations Sustainable Development Group (UNSDG). TI is a social partner of Global Al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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