Total assets increased by 7% from Dh6,240 million as of March 31 2023
realty2 hours ago
Samaras’s comments come two days before a team of Greece’s international lenders arrive in Athens to push for further austerity measures if the debt-laden country wants to qualify for further rescue payments and avoid a chaotic default.
Athens wants to soften the terms of a €130-billion bailout agreed last March with the European Union and the International Monetary Fund, to soften their impact on an economy going through its worst post-war recession.
Greek GDP is expected by the end of this to have shrunk by about a fifth in five consecutive years of recession since 2008, hammered by tax hikes, spending cuts and wage reductions required by two EU/IMF bailouts. Unemployment climbed to a record 22.6 per cent in the first quarter.
“You had the Great Depression in the United States,” Samaras told Clinton, who was visiting Greece as part of a delegation of Greek-American businessmen. “This is exactly what we’re going through in Greece — it’s our version of the Great Depression.”
Athens must reduce its budget deficit below three per cent of GDP by the end of 2014, from 9.3 per cent of GDP in 2011 — requiring almost another €12 billion in cuts and higher taxes on top of the €17 billion successive governments have cut from the budget shortfall.
Clinton criticised Greece’s lenders for focusing excessively on austerity, saying Athens will be more likely to repay its debt if its manages economic recovery first.
“(It) is self-defeating... if every day people are saying this may or may not work to give us back a 100 cents on the dollar, so give us more austerity today,” he told Samaras.
“People need something to look forward to when they get up in the morning — young Greeks need something to believe in so they can stake their future out here,” Clinton said. —
Total assets increased by 7% from Dh6,240 million as of March 31 2023
realty2 hours ago
Spieth would become only the sixth player to complete the career Grand Slam if he wins this week
golf3 hours ago
In the first quarter, Dubai’s total transaction volumes reached 35,310
realty3 hours ago
Victory against West Ham on Sunday will assure City of a fourth successive Premier League title, an unprecedented feat in the top tier of English football
football3 hours ago
There has been a paradigm shift from cancer diagnosis through external observations to molecular-based classifications, focusing on the genetic makeup of cancers
uae3 hours ago
Find the best of Italian cuisine complemented with a live romantic-comedy musical at Paparazzi Tuscan - dining out can't get better than this
lifestyle3 hours ago
The Dubai-based hotelier at Paramount Hotel Dubai, along with its General Manager Pascal Eggerstedt helps organise a popular film festival in the city, 'We Create Drama'
entertainment3 hours ago
Lamichhanem, who was accused of raping a young woman in 2022, is now likely to be included in Nepal's T20 World Cup squad
cricket3 hours ago