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Trump Targets Fed Chair Powell Over Renovation Costs

  In a dramatic escalation of his long-standing feud with Federal Reserve Chair Jerome Powell, former President Donald Trump has signaled a potential path to remove Powell from office—citing alleged mismanagement of a $2.5 billion renovation project at the Fed’s Washington headquarters. The renovation, which includes upgrades to aging infrastructure and removal of hazardous materials like asbestos, has ballooned in cost over the years. Trump and his allies claim the project includes extravagant features such as rooftop gardens, VIP dining rooms, and premium marble—claims Powell has publicly denied. The Fed insists the renovations are necessary and cost-effective in the long term, consolidating staff and reducing rental expenses. While the Supreme Court has affirmed that a president cannot dismiss the Fed chair over policy disagreements, Trump may be attempting to build a case for removal “for cause,” alleging Powell misled Congress about the renovation’s scope and budget. Criti...
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Greece's Bold Move: Early Repayment of Bailout Loans

Greece is set to repay the remaining loans from its first bailout program by 2031, a full decade ahead of schedule. This ambitious plan, confirmed by government officials, aims to reduce the country's debt burden and shed its label as the most indebted member of the European Union.

The repayment will proceed in annual increments of €5 billion, supported by a €37 billion cash reserve, higher-than-expected budget surpluses, and new bond issuances. Finance Minister Kyriakos Pierrakakis expressed confidence in this strategy, emphasizing its potential to improve Greece's fiscal standing.

This move comes as Greece continues to recover from the financial crisis that began in 2009, which led to three bailout packages totaling €280 billion. By the end of 2024, Greece had already repaid €22 billion of the €53 billion owed from the first bailout.

With its economy projected to grow by 2.3% this year—twice the eurozone average—Greece is on track to reduce its debt-to-GDP ratio to 135% by 2027. This marks a significant turnaround for a country that has faced years of austerity and economic challenges.

This bold repayment plan not only symbolizes Greece's economic resilience but also sets a precedent for fiscal discipline and recovery within the EU.

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