Greek banks will recapitalise themselves by issuing shares and convertible bonds and must meet a core Tier 1 capital adequacy ratio of at least 6 percent, the government decided on Monday.
The shares will be offered at a 50 percent discount from the average price over the 50 days prior to the issue, the government said in a cabinet decision.
The bonds will pay a 7 percent annual coupon with a half-a-percentage-point step up per year. They will be converted to shares after five years, the government said.
It appeared on Wednesday that the fate of a contentious anti-racism bill will have to be determined by the leaders of the three parties in the fragile coalition after the government’s genera...
The European Union's leaders took a major step in tackling tax-dodgers Wednesday by pushing to end bank secrecy across the bloc's 27 members by the end of the year.
German Chancellor Angela ...
PAOK recovered some of the ground lost in the Super League playoffs by beating fellow Champions League-spot contender Asteras 2-1 at Tripoli on Wednesday, while PAS Giannina and Atromitos sh...
The league that in the last three years has produced the European basketball champion entered its playoffs on Tuesday and Wednesday with the first games of the quarterfinal round, with AGO R...
One of the biggest problems dragging the Greek economy down is the pressure placed on entrepreneurs aspiring to do business in sectors dominated by the “pirates” and “pimps” of the business ...
Greek taxpayers have had to pay dozens of millions of euros for the restoration and conservation of the capital’s landmark buildings, including Athens Polytechnic and the so-called neoclassi...
