×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Friday
02
Jan 2026
weather symbol
Athens 11°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by Cloudevo
> Economy

Europe gives support to Greece

European officials have come out with statements of support for Greece to help ease the fresh crisis reminiscent of bad times

Newsroom October 17 08:13

The Greek government’s hopes of exiting its bailout program early were dented this week as a fresh crisis emerged as benchmark 10-year bonds plunged to 5.6% from 8.71% in just one month and the Greek stock index lost 14.5% in just three days. European officials vowed to continue supporting Greece following the outbreak of the fresh crisis amid government officials’ insistence that Greece is not sliding back into financial upheaval.

“There should be no doubt that Europe will continue to assist Greece in whatever way is necessary so the government can keep financing itself,” said EU Commission Vice President Jyrki Katainen, adding that Greece had made immense progress since the 240 billion euro rescue programs started in 2010.

Prime Minister Antonis Samaras had a lengthy telephone conversation with European Commission President Jean-Claude Juncker on Thursday night to discuss the latest developments.

On his part, European Central Bank President Mario Draghi reduced the haircut applied on bonds submitted by banks as collateral ot borrow funds so as to access greater liquidity worth 12 billion euros.

Further backing for Greece came when European Stability Mechanism (ESM) chief Klaus Regling also indicated that the eurozone is prepared to help Greece. “It could mean a precautionary program,” said Mr. Regling, speaking to the German MNI news service. “Precautionary arrangements are one of the instruments that are available. I think in the euro area there is a lot of sympathy for the idea that Greece should have a precautionary arrangement to accompany its reform efforts. That could be a usefuall fall back in case they need more money.”

“The market atmosphere seen in the last couple of days does not reflect the state of the Greek economy,” said Finance Minister Gikas Hardouvelis. “Our path to growth is a reality.”

>Related articles

ELSTAT: Unemployment fell to 8.2% in November 2025

Three countries hold the helm of global shipping

The 2026 economic package: Salary increases, tax reductions, who benefits

What is causing the fresh crisis?

Investors have been spooked by the propsect of new elections that could result in more power for the main opposition Coalition of the Left SYRIZA party that wants to renegotiate Greece’s huge debt.

A senior official for SYRIZA, Dimitris Papadimoulis, denied that the upheaval was caused by his party’s widening lead in the opinion polls. He attributes the drop to the government’s failure to keep its promise of an early bailout exit.

Ask me anything

Explore related questions

> More Economy

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

Panathinaikos – Olympiacos 82–87: A European season opener with an away win for the Reds

January 2, 2026

“Aliki has not been identified yet, let us pray,” says the brother of the 15-year-old who was at the ill-fated bar in Crans-Montana

January 2, 2026

Politicians… differently during the holidays: From skiing to the theater stage and hugs on the beach

January 2, 2026

Emily Ratajkowski in Athens with Romain Gavras

January 2, 2026

Tragedy in Crans-Montana: 119 injured, 113 identified, 40 dead, say Swiss authorities

January 2, 2026

Student in Xanthi loses a finger after a flare explodes in his hand: He is also at risk of losing his eyesight

January 2, 2026

Hatzidakis: €3.8 billion have been given to farmers in 2025 – They have no excuse not to come to the dialogue

January 2, 2026

Mount Etna erupts again – watch videos and photos of the lava flows

January 2, 2026
All News

> World

“Aliki has not been identified yet, let us pray,” says the brother of the 15-year-old who was at the ill-fated bar in Crans-Montana

Aliki Kallergi lived permanently in Switzerland and was partying at Le Constellation with her friends when the deadly fire broke out

January 2, 2026

Tragedy in Crans-Montana: 119 injured, 113 identified, 40 dead, say Swiss authorities

January 2, 2026

Mount Etna erupts again – watch videos and photos of the lava flows

January 2, 2026

Argentina: Milei wants to found an “alliance to fight the cancer of socialism and woke ideology”

January 2, 2026

“We are ready for action”: Trump says the US will intervene if Iran violently suppresses protests

January 2, 2026
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2026 Πρώτο Θέμα