Greece
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Economy

Crisis in Turkey Forces Vendors to Sell the Delicacy Koulouri Cut in Half

The economic crisis and spiraling price rises in Turkey have forced street vendors to sell their iconic bread koulouri, or as Turks call it “simit”, cut in half. Turkish citizens are having increasing difficulties coping with the rising prices of...

Turkey’s Lira Dives 15% in Second-Worst Day Ever

Turkey's lira skidded an incredible 15% on Tuesday as the nation weathered another drop in the value in its currency, amounting to 45% over 2021. Constituting its second-worst day in history, the lira took a nosedive after Turkish President Recep...

EU Revises Growth Upward, to 7.1%, for Greece in 2021

The European Commission has forecast strong growth rates of 7.1 percent in 2021 and 5.2 percent in 2022 for Greece in its autumn economic forecasts, published on Thursday. The EU's executive revised its forecasts for 2021 upwards compared to those...

US Inflation Now at Highest Rate in 30 Years

Inflation in the United States is now at its highest rate in 31 years, according to economic experts -- and "it won't get better until it gets worse," topping out perhaps in January of 2022, before it subsides. Prices for...

Energy Storage: Is Greece Becoming Europe’s Battery?

A series of ambitious plans by the Greek government on energy storage begs the question: Is Greece's ambition to become Europe's battery? Converging environmental and financial circumstances might offer an answer. Early last summer, the government announced an ambitious plan...

Elon Musk Prepared to End World Hunger with $6 Billion — With Conditions

The multi-billionaire owner of Tesla, Elon Musk, agreed on Sunday to make a contribution of around $6 billion to end world hunger, but on one important condition. The move came after WFP director David Beasley told CNN that a...

Musk vs. Bezos: Real Rivals or Fake Feud?

Many Silicon Valley entrepreneurs collaborate closely behind the scenes; is this the case for the world's two richest men, Elon Musk and Jeff Bezos? By Ben Little Flick through a news feed on your phone and you are likely to scroll...

Multinational Firms Heavily Invest in Data Centers in Greece

A number of multinational firms have invested heavily in building huge data centers in Greece over the past two years. After over a decade of being at the bottom of data gathering in southwest Europe, Greece is slowly becoming...

Elon Musk Crashes Shiba Cryptocurrency with Just One Tweet

A one-word Tweet from Tesla magnate Elon Musk was enough to plunge the price of cryptocurrency Shiba to new depths on Sunday. Asked how many SHIB (Shiba Inu coins) he owns, the billionaire answered with the closest thing to...

Erdogan Wants to Set Up an Islamic “Wall Street” in Turkey

Turkish President Recep Tayyip Erdogan said on Thursday that he wants to turn Istanbul into a financial hub for the Islamic world -- at a time when the country's economy is in serious trouble. "We are seeking to become one...

IMF Says Greek Economy Will Grow by 6.5% This Year

The International Monetary Fund (IMF) announced on Tuesday that the Greek economy is looking at a growth rate of 6.5% by the end of 2021. The IMF detailed the country's growth for 2021 in their global economic outlook report, where...

Pfizer’s Investment in Thessaloniki a “Historic Moment” for Greece

Prime Minister Kyriakos Mitsotakis opened two brand-new Pfizer facilities in Thessaloniki on Tuesday. They are the pharmaceutical company's Global Center for Digital Innovation (CDI) and its Global Center for Business Operations and Services. Pfizer’s investment will contribute €650 million to the...

Is the U.S. Dollar Going Digital?

As the U.S. dollar is entering the crypto age, the U.S. government is considering the tremendous change the digital dollar would bring. According to a Bloomberg report, the guidance will come through three pending reports related to public and private...

Market Outlook: Moderation of Growth Should Come as No Surprise Says Calamos

In his global market outlook John P. Calamos, Sr., one of the most prominent financial experts worldwide, says that our economy is in the midst of an extraordinary recovery period and a moderation of economic growth and consumer optimism...

All You Needed to Know About Cryptocurrency in Greece

In the past couple of years, cryptocurrency has invaded Greece's society, mostly because of high taxation and the pandemic. While the average Greek might not know what "bitcoin" means, interest in its mining has risen significantly. In Greece, an estimated...