Global X FTSE Greece 20 ETF

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  • Fri, Jan. 15, 4:27 AM
    • Greece's creditors are expected to start talking soon over an issue that has been looming over the eurozone since 2010: cutting the country's mountainous debt.
    • However, the talks won't begin until after still-difficult negotiations over steps Greece must take, including pension changes and budget cuts, to complete the first review of Athens' latest €86B bailout package.
    • Once there is agreement on that, "then we will start political debates on debt sustainability," said the Eurogroup's Jeroen Dijsselbloem.
    • ETFs: GREK
    | Fri, Jan. 15, 4:27 AM | 1 Comment
  • Dec. 21, 2015, 3:13 AM
    • Greek prime minister Alexis Tsipras is pushing for the International Monetary Fund to stay out of the country’s €86B third bailout, leaving the eurozone to take full responsibility for overseeing economic reforms.
    • The assertion risks alienating the IMF, which is a strong advocate of debt relief for Athens, and is likely to anger the German government, which has always insisted the fund stay on board.
    • The IMF will likely decide whether to stay involved in the bailout early next year.
    • ETFs: GREK
    | Dec. 21, 2015, 3:13 AM | 2 Comments
  • Dec. 6, 2015, 7:55 AM
    • Greece's parliament has narrowly approved the country's 2016 budget, which projects a flat-lining economy for 2015 and a mild contraction for the next year but foresees billions in fresh austerity measures.
    • Public spending cuts will amount to €5.7B, including €1.8B from pensions and €500M from defense, while tax increases will total over €2B.
    • The budget is the first to be put before parliament by the Syriza-led government, which won national elections in January and again in September.
    • ETFs: GREK
    | Dec. 6, 2015, 7:55 AM | 21 Comments
  • Dec. 3, 2015, 3:50 AM
    • Greek unions today are holding their second general strike in less than a month, to protest austerity measures underpinning the country's third international bailout.
    • The 24-hour walkout by Greek workers is expected to shut down public services and disrupt public transportation and flights.
    • Greece's efforts to reform the economy and to deal with the European refugee crisis are also expected to top the agenda during a planned visit to Athens tomorrow by Secretary of State John Kerry.
    • ETFs: GREK
    | Dec. 3, 2015, 3:50 AM | 1 Comment
  • Dec. 2, 2015, 2:35 AM
    • Greek Prime Minister Alexis Tsipras is hopeful that capital controls imposed at the height of the country's debt crisis in July can be lifted in the first half of 2016.
    • Addressing a conference of the Hellenic-American Chamber of Commerce, Tsipras said his government had taken the first steps to address non-performing loans and recapitalize banks so they could start lending again to the economy.
    • ETFs: GREK
    | Dec. 2, 2015, 2:35 AM | 1 Comment
  • Nov. 20, 2015, 2:33 AM
    • Greece's parliament has backed additional reforms needed to unlock €12B from its latest bailout which will help recapitalize the country's struggling banks and pay off overdue government debts.
    • The reform bill was approved by 153 to 137 votes following a stormy debate that brought the sacking of two deputies from the Syriza-led coalition. Their departure leaves the government with only a two-seat majority.
    • ETFs: GREK
    | Nov. 20, 2015, 2:33 AM | 1 Comment
  • Nov. 17, 2015, 2:17 AM
    • Greece reached a preliminary deal with its international lenders on home foreclosures reform late on Monday, removing a major obstacle holding up fresh bailout loans for the debt-laden country.
    • The changes will see Athens qualify for a €2B sub-tranche of new financial aid to pay off state arrears and €10B in funds to help recapitalize the country's four main banks.
    • ETFs: GREK
    | Nov. 17, 2015, 2:17 AM | 1 Comment
  • Nov. 12, 2015, 2:35 AM
    • Angry Greeks, fed up after six years of austerity, are taking to the streets once again.
    • The country is expected to be brought to a halt today when employees in both the public and private sector down tools to protest against yet more spending cuts and tax rises.
    • Earlier this week, eurozone finance ministers denied Athens the first €2B tranche of a third foreign aid package, stating the country had not gone far enough on the issue of home foreclosures.
    • Previously: EU delays bailout payment to Greece (Nov. 10 2015)
    • ETFs: GREK
    | Nov. 12, 2015, 2:35 AM | 8 Comments
  • Nov. 10, 2015, 4:36 AM
    • Greece and its European creditors have run into a dispute over Athens' new bailout program, triggering a delay to an aid payment and raising questions over whether the government is returning to tactics that embittered relations with Brussels earlier this year.
    • Eurozone finance ministers were scheduled to sign off on the €2B tranche at a Monday evening meeting, but ministers said a stand-off over repossession protections for homeowners would delay the payment for at least a week, and potentially longer.
    • ETFs: GREK
    | Nov. 10, 2015, 4:36 AM
  • Nov. 6, 2015, 2:36 AM
    • Greece's parliament has approved a bill with reforms prescribed by the country's international lenders, ahead of a eurozone finance ministers meeting on Monday that will decide if Athens qualifies for fresh bailout funds.
    • Passing the bill was crucial, but there are still issues holding up a review which can unlock €2B of aid, a sub-tranche of an initial €26B installment.
    • Those include effective mechanisms for Greece's troubled banks, such as non-performing loans and mortgages, and a VAT tax on private education.
    • ETFs: GREK
    | Nov. 6, 2015, 2:36 AM | 1 Comment
  • Oct. 22, 2015, 6:20 AM
    • "Greece has done a certain number of reforms, and we are going to give them money, €3B in all," European Economics Commissioner Pierre Moscovici told Europe 1 radio regarding the next installment of the country's bailout program.
    • "And in the course of November, December, we will deal with the issue of the recapitalization of Greek banks and Greek debt," he added.
    • Related: Greek bank recap seen less than €20B (Oct. 20 2015)
    • ETFs: GREK
    | Oct. 22, 2015, 6:20 AM
  • Oct. 12, 2015, 3:28 AM
    • Greece's new government faces a major test this week when a barrage of economic reforms and austerity measures demanded by international creditors need to be voted on to become law.
    • Legislation detailing dozens of actions - from liberalizing the Greek energy market to imposing stricter criteria for the protection of indebted homeowners - will need to be approved to unlock a fresh €2B loan installment from the country's third bailout.
    • ETFs: GREK
    | Oct. 12, 2015, 3:28 AM | 1 Comment
  • Oct. 6, 2015, 2:22 AM
    • Although the country's economy still remains on shaky ground, Greece has unveiled a tough draft budget for 2016 that complies with creditor demands for a third bailout.
    • According to the plan, the economy this year will contract 2.3%, followed by a further 1.3% in 2016. Unemployment is expected to inch higher next year to 25.8% from 25.4% in 2015.
    • Based on the series of tax hikes and spending cuts, Athens now expects to return to the capital markets within the next 20 months.
    • ETFs: GREK
    | Oct. 6, 2015, 2:22 AM | 3 Comments
  • Sep. 22, 2015, 3:09 AM
    • Greece's new coalition government will have 100 critical days to pass a mountain of legislation, including many measures previous governments found too politically difficult to tackle.
    • Aspects of the country's adjustment program include a 2016 state budget, a three-year fiscal strategy, bank recapitalization, pension and tax reforms, and boosting a plan to sell government assets.
    • Reportedly, PM Alexis Tsipras intends to create a ministry with former Finance Minister Euclid Tsakalotos at its helm to coordinate the country's bailout program .
    • ETFs: GREK
    | Sep. 22, 2015, 3:09 AM
  • Sep. 21, 2015, 1:59 AM
    • Greek voters have given the left-wing Syriza party the second chance it was asking for, following another high-stakes election that marks the next phase of the country's debt crisis.
    • Syriza leader and former Prime Minister Alexis Tsipras had enraged many Greeks by breaking an election pledge and ignoring the outcome of a referendum, but that did not stop citizens from putting him back in power.
    • Results: Tsipras gathered around 35% of the vote, while New Democracy's Vangelis Meimarakis received 28%.
    • ETFs: GREK
    • Previously: Greeks head to the polls (Sep. 20 2015)
    | Sep. 21, 2015, 1:59 AM | 17 Comments
  • Sep. 20, 2015, 9:09 AM
    • Greeks are heading to the polls today for the country's second general election since January, with most surveys showing a tight race between Syriza's Alexis Tsipras and New Democracy's Vangelis Meimarakis.
    • The unpredictable vote will begin the next phase of the country's debt crisis. Any winner will need to oversee the deep economic reforms required for Athens' new €86B bailout, a recapitalisation of Greek banks and the unwinding of capital controls.
    • ETFs: GREK
    | Sep. 20, 2015, 9:09 AM | 16 Comments
GREK Description
The Global X FTSE Greece 20 ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE/ATHEX 20 Capped Index.
See more details on sponsor's website
Country: Greece
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