Laws, Regulations & Policies

A value-added-tax (VAT) rate of 13 percent on Greek hotels and the elimination of discounts on the country’s most popular islands, are included in the proposal the Greek government submitted to its international creditors on late Thursday, in hope of reaching an agreement on a third bailout.

Greece’s “bank holiday” has been extended for another three working days, according to a ministerial decision issued late Wednesday.

Roaming charges will cease to exist in the European Union as of June 15, 2017, according to a recent agreement between the European Parliament and the Council.

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made a statement on Monday, one day after a ‘no’ vote in a Greek bailout referendum.

The German press was not happy with Greece’s referendum result on Sunday, when a massive 61.31 percent voted against the stringent austerity measures demanded by the country’s international lenders.

“I take note of the outcome of the Greek referendum. This result is very regrettable for the future of Greece”, Jeroen Dijsselbloem, head of the Eurogroup, said in a statement following a ‘no’ vote in a Greek bailout referendum.

In an open letter – in German and Greek – Die Zeit’s Marc Brost is calling on all Greeks to vote responsibly in Sunday’s referendum, stressing that their decision will not only affect their own future but the future of 500 million people across Europe.

Greece’s July 5 referendum will go ahead as planned, Prime Minister Alexis Tsipras informed the nation in a television address.

In an attempt to prevent the further deterioration of Greece’s economic situation, US President Barack Obama has upped his contacts with EU leaders, calling on all parties involved to show flexibility and work out a solution.

Greek Prime Minister Alexis Tsipras will accept almost all of the bailout terms of the country’s creditors that were on the negotiating table last weekend, according to a letter he sent on late Tuesday night.