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A Greek withdrawal from the eurozone was a hypothetical scenario, debated mostly in the early to mid 2010s, under which Greece would withdraw from the Eurozone to deal with the Greek government-debt crisis of the time. This conjecture was given the nickname " Grexit ", a portmanteau combining the English words 'Greek' and 'exit', [ 1 ][ 2 ][ 3 ...
On 27 October 2011, Eurozone leaders and the IMF settled an agreement with banks whereby they accepted a 50% write-off of (part of) Greek debt. [179] [180] [181] Greece brought down its primary deficit from €25bn (11% of GDP) in 2009 to €5bn (2.4% of GDP) in 2011. [182] However, the Greek recession worsened.
Siemens Greek bribery scandal. The Siemens bribery scandal in Greece is a corruption and bribery scandal in Greece over deals between Siemens and Greek government officials during the 2004 Summer Olympic Games in Athens, Greece [1] regarding security systems and purchases by OTE in the 1990s. [2]
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In October 2011, Eurozone leaders also agreed on a proposal to write off 50% of Greek debt owed to private creditors, increasing the EFSF to about €1 trillion and requiring European banks to achieve 9% capitalisation to reduce the risk of contagion to other countries. These austerity measures proved to be extremely unpopular with the public ...
Taxation in Greece is based on the direct and indirect systems. The total tax revenue in 2017 was €47.56 billion from which €20.62 billion came from direct taxes and €26.94 billion from indirect taxes. The total tax revenue represented 39.4% of GDP in 2017. [1] Taxes in Greece are collected by the Independent Authority for Public Revenue ...
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