“Greece plans to provide as much as 9 billion euros ($10 billion) in state guarantees to help its banks reduce a mountain of soured debt weighing on their balance sheets, according to two people with knowledge of the matter.” – by Viktoria Dendrinou
Greece
Greek PM outlines tax cuts in 2020, promises reforms (Reuters)
“Greece’s prime minister detailed tax cuts for austerity-hit Greeks and companies strained during a decade-long debt crisis, and promised reforms aimed at convincing lenders to ease the nation’s fiscal target from 2021.” – by George Georgiopoulos and Renee Maltezou
Greece Liked to Underestimate Kyriakos Mitsotakis. Now He’s Prime Minister (New York Times)
“Mr. Mitsotakis, who was quickly sworn in on Monday and was expected to name his cabinet later in the day, will need to win over those who believe he lacks the competence to deal with the complexities of Greece’s huge economic and social challenges.” – by Matina Stevis-Gridneff
Navigating Europe in 2019
Themes and Risks Investors in Europe to Consider in 2019
We are nearly 20 years into the new millennium and it is an unrecognizable place compared to when it started. Lehman is gone, Bear Stearns – gone, Merrill Lynch – acquired, Citigroup is a fraction of its former self. Blockbuster, Toys R Us, Woolworths all part of the history books now. Europe, where we focus […]
Greek jeweller Folli unveils restructuring plan, CEO steps down (Reuters)
“Greek jewellery maker Folli Follie will seek creditor approval for a planned overhaul of the business, it said on Tuesday after announcing the resignation of the troubled company’s CEO.”
Athens court hears Folli Follie request for protection from creditors (Ekathimerini)
The Athens Court of First Instance on Thursday heard a request by troubled jewelry firm Folli Follie for protection from its creditors under Article 106a of Greece’s Bankruptcy Code.