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On 21 June 2018, Greece's creditors agreed on a 10-year extension of maturities on 96.6 billion euros of loans (i.e. almost a third of Greece's total debt), as well as a 10-year grace period in interest and amortization payments on the same loans. [173] Greece successfully exited (as declared) the bailouts on 20 August 2018. [174]
The Greek government-debt crisis began in 2009 and, as of November 2017, was still ongoing. During this period, many changes had occurred in Greece. The income of many Greeks has declined, levels of unemployment have increased, elections and resignations of politicians have altered the country's political landscape radically, the Greek parliament has passed many austerity bills, and protests ...
Starting in 2018, banks in both Greece and Switzerland will exchange information about the bank accounts of citizens of the other country to minimize the possibility of hiding untaxed income. [23] In 2016 and 2017, the government was encouraging the use of credit card or debit cards to pay for goods and services in order to reduce cash only ...
Danish state bankruptcy of 1813. [2] Kingdom of France: 1788: On 17 August 1788, the royal treasury began paying creditors in IOUs rather than money after service on debt (mainly from the Seven Years' War and American War of Independence) had depleted the royal treasury to just 400,000 livres (one day's worth of state expenses).
The Greek GDP had its worst decline in 2011 with −6.9%, [50] a year where the seasonal adjusted industrial output ended 28.4% lower than in 2005, [51] [52] and with 111,000 Greek companies going bankrupt (27% higher than in 2010).
Retail bankruptcies were rampant in 2018. For premium support please call: 800-290-4726 more ways to reach us
The bill's title was Medium-term Fiscal Strategy plan 2015-2018 and the relevant law is 4263/2014. The bill froze wages and pensions until 2018. [127] It cut public sector expenses, [128] such as the Ministry of Health. [129] It provided that the primary surplus in 2014 would be 2.3% of GDP (€4.19 billion) 5.3% (€11.585 billion) in 2018. [127]
The organization filed for protection from creditors in U.S. Bankruptcy Court in Indianapolis, according to court records.