• Thu, Jun. 23, 3:05 AM
    • Helping breathe life into Greece's struggling economy, the ECB will start accepting junk-rated Greek government debt as collateral for its regular bank lending operations.
    • According to economists, the decision to open a funding facility that had been shut for 16 months could lead to the partial lifting of capital controls in the coming days.
    • ETFs: GREK
    | Thu, Jun. 23, 3:05 AM | 1 Comment
  • Sun, Jun. 19, 9:30 AM
    • Greece could lift most or all capital controls imposed at the height of the eurozone crisis by the end of the year, the head of the country's banking association, Louka Katseli, said on Saturday.
    • The controls, which restricted the amount of cash that can be withdrawn from banks to €420 per week, were imposed last June as Athens became embroiled in acrimonious bailout talks with its international lenders.
    • ETFs: GREK
    | Sun, Jun. 19, 9:30 AM | 5 Comments
  • Fri, Jun. 17, 5:33 AM
    • The European Stability Mechanism, the eurozone emergency fund, has agreed to disburse fresh loans to Greece worth some €7.5B, ensuring the country doesn't default to its creditors later this summer.
    • The move comes after Athens passed a series of painful austerity measures, signed off on a framework to free up the sale of bad loans and agreed to set up a privatization fund.
    • ETFs: GREK
    | Fri, Jun. 17, 5:33 AM | 2 Comments
  • Wed, Jun. 8, 2:34 AM
    • Greece has signed a major privatization deal for the old Athens airport of Hellenikon, meeting the demands of international creditors who are now expected to unlock bailout funds after the approval of fresh austerity measures.
    • Privatizations have been a central condition for the nation's succession of bailouts since 2010, but political resistance and bureaucratic snags have meant few have gone ahead to date.
    • ETFs: GREK
    | Wed, Jun. 8, 2:34 AM
  • Fri, Jun. 3, 3:49 AM
    • Greece's parliament has approved a new batch of tweaks to its creditor-mandated austerity program, required to secure a tranche of €7.5B.
    • Alexis Tsipras said he expects the ECB to re-open access to cheap funding for Greek banks after the official bailout review ends despite the central bank failing to reinstate the waiver at yesterday's meeting.
    • ETFs: GREK
    | Fri, Jun. 3, 3:49 AM | 3 Comments
  • Tue, May 31, 3:08 AM
    • In a letter written to its European and IMF creditors, Greece said it cannot implement some of the extra changes sought in exchange for fresh bailout loans, including banking regulation, sales of bad loans, pension reforms and privatization.
    • The disagreement could further delay the disbursement of bailout funds which Athens badly needs to pay off IMF loans in June, bonds of the ECB maturing in July and increasing state arrears.
    • ETFs: GREK
    | Tue, May 31, 3:08 AM | 7 Comments
  • Wed, May 25, 2:18 AM
    • In an agreement announced early Wednesday, Greece won additional pledges of debt relief, but nothing substantial until 2018 at the earliest, and only then if it continues to carry out the painful reforms it agreed to over the weekend.
    • Eurozone finance ministers and the IMF also gave a green light for the next round of aid for Athens, including €10.3B in fresh loans, starting with a €7.5B installment in the second half of June.
    • ETFs: GREK
    | Wed, May 25, 2:18 AM | 16 Comments
  • Tue, May 24, 4:29 AM
    • The IMF is calling on European creditor nations to commit to "upfront unconditional" debt relief for Greece as part of an international rescue program for the debt-laden nation.
    • The statement comes ahead of today's Eurogroup meeting in Brussels that will discuss the issue, with the aim of agreeing on the next disbursement to Athens from an €86B bailout package hammered out last year.
    • ETFs: GREK
    • Previously: IMF wants debt relief for Greece until 2040 (May. 17 2016)
    | Tue, May 24, 4:29 AM | 14 Comments
  • Mon, May 23, 2:54 AM
    • Greece's parliament has approved a raft of fresh taxes and austerity measures needed to unlock further rescue loans, as the country's most influential creditors - Germany and the IMF - remain deadlocked over debt relief.
    • "Greeks have already paid a lot, but this is probably the first time that the possibility of these sacrifices being the last is so evident," Prime Minister Alexis Tsipras told lawmakers.
    • Athens hopes the measures will bolster sentiment ahead of tomorrow's key eurozone finance ministers meeting.
    • ETFs: GREK
    | Mon, May 23, 2:54 AM | 3 Comments
  • Fri, May 20, 3:14 AM
    • Two months after the EU's controversial deal with Turkey came into effect, still no refugees have been deported from Greece under terms of the new pact.
    • "No asylum seeker will be sent back under the EU-Turkey agreement if, in their individual case, Turkey cannot be considered a safe third country or safe first country of asylum," European Commission spokeswoman Mina Andreeva said.
    • The program's slow start risks undermining the deterrent threat emphasized in the agreement signed in March.
    • ETFs: GREK
    | Fri, May 20, 3:14 AM | 1 Comment
  • Tue, May 17, 4:00 AM
    • The IMF is pressing the eurozone to let Greece skip paying interest or principal on bailout loans until 2040, WSJ reports, stating they should be fixed at an interest rate of 1.5%, and fall due gradually in the following decades, even as late as 2080.
    • Eurozone governments, led by Germany, are reluctant to make such major concessions on their loans to Athens, which currently total over €200B, but they also want the IMF to rejoin the bailout as a lender to boost the program's credibility.
    • ETFs: GREK
    | Tue, May 17, 4:00 AM | 26 Comments
  • Tue, May 10, 4:19 AM
    • Greece's 10-year bond yields have fallen below 8% for the first time in over six months after eurozone finance ministers offered debt relief to the cash-strapped country from 2018.
    • The offer appears to be a compromise between Germany, which does not believe Athens needs additional debt relief, and the IMF, which insists it is necessary, and will be fleshed out by deputy finance ministers by May 24.
    • ETFs: GREK
    | Tue, May 10, 4:19 AM | 1 Comment
  • Mon, May 9, 2:11 AM
    • Greece's parliament has approved a bill reforming the debt-laden country's pension and tax systems ahead of an emergency meeting between the Eurogroup and IMF officials that aims to complete the first review of Athens' €86B bailout.
    • The legislation, which will increase social security and pension contributions, and raise taxes for most people, took place amid a crippling general strike and protests that briefly turned violent on Sunday.
    • ETFs: GREK
    | Mon, May 9, 2:11 AM | 5 Comments
  • Fri, Apr. 22, 5:32 AM
    • Eurozone finance ministers are in Amsterdam to discuss the Panama Papers, EU budget and Greek debt crisis, with the later topic making significant headlines.
    • "Don't expect any deals today," Eurogroup chairman Jeroen Dijsselbloem told reporters, noting however, that he was "hearing good news from Athens" regarding a reform package.
    • The struggling country needs more bailout aid so it can pay back debt that matures in July.
    • ETFs: GREK
    | Fri, Apr. 22, 5:32 AM | 6 Comments
  • Sun, Apr. 17, 9:12 AM
    • Greece's creditors are considering seeking extra austerity measures that would be triggered if Athens misses its fiscal targets, in a bid to bridge differences between Europe and the IMF over bailout requirements.
    • Under the proposal, Greece would have to sign up to so-called contingency measures of up to €3B, on top of the €5B package made up of tax increases and spending cuts the country and its lenders are already negotiating.
    • Previously: Fresh tensions surface over Greek bailout (Apr. 15 2016)
    • ETFs: GREK
    • Now read GREK Equals Greek Politics
    | Sun, Apr. 17, 9:12 AM | 3 Comments
  • Fri, Apr. 15, 4:00 AM
    • The IMF and Eurogroup are butting heads over the Greek bailout, with Christine Lagarde calling Athens' fiscal targets "highly unrealistic" and saying the €86B rescue may need to be "completely renegotiated."
    • "Flexibility is not an option," Jeroen Dijsselbloem said in response, promising that "if necessary we will do more to relieve their debt burden."
    • A slow death? Germany has repeatedly warned it may no longer be able to support Greece's third bailout if the IMF quits.
    • ETFs: GREK
    | Fri, Apr. 15, 4:00 AM | 3 Comments
GREK Description
The Global X MSCI Greece ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Greece Select 25/50 Index.
See more details on sponsor's website
Country: Greece
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