In 2014, the Member States of the European Union (EU) spent all together around EUR 283 billion on Research & Development (R&D). The R&D intensity, i.e. R&D expenditure as a percentage of GDP, stood at 2.03% in 2014, the same as in 2013.
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In the context of the third economic adjustment programme for Greece, the European Commission has approved additional state aid of €2.72 billion to Greek Piraeus Bank under EU state aid rules, on the basis of an amended restructuring plan.
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The European Commission welcomed that capital to meet the shortfalls identified by the SSM’s comprehensive assessment for Alpha Bank and Eurobank has been fully raised from private investors. As a result, no state capital injections will be necessary. The Commission has also found the amended restructuring plans of Alpha Bank and Eurobank to be in line with EU state aid rules.
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The Eurogroup welcomed the completion by the Greek authorities of the first set of milestones and the financial sector measures that are essential for a successful recapitalisation process. This is an important step towards addressing the main challenges that the Greek economy is facing and towards restoring it to a sustainable path.
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In a bid to cut back on greenhouse gas emissions from traffic, the Norwegian government has provided a number of subsidies for the electric car owners. The initial plan of the government was to have 50,000 of the country’s 2.5 million registered private vehicles to run on electricity by 2017.
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According to a Fitch announcement, Greece’s financial assistance programme with the European Stability Mechanism of up to EUR86bn has reduced the risk of Greece defaulting on its private sector debt obligations and supports the rating at ‘CCC’.
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Greek economy slipped back into recession in the latter part of 2015 after growing in late 2014 and the first half of 2015. Growth is projected to gain some momentum in the second half of 2016 as confidence strengthens and as structural reforms finally take hold and boost exports and investment…
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A trilateral meeting was held in Luxembourg yesterday [Nov 5], on the margins of the 12th ASEM Foreign Ministers’ Meeting, between the Foreign Ministers of Greece, Nikos Kotzias; Bulgaria, Daniel Mitov; and Hungary, Péter Szijjártó.
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European Commission expects the recession that returned to Greece this year to continue into 2016 and is calling on the government to immediately draw up additional measures for 2017. In its fall forecasts yesterday, Brussels referred to Greece as follows…
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The Hellenic-Zambian Chamber recently organized the 2015 Hellenic – Zambian Business Forum in Lusaka, with the participation of 21 Greek enterpreneurs.
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