Economy

ATHENS – Only a day after Greek officials said they were optimistic about reaching an agreement with banks and investors to write down as much as 50 percent of the country’s debt, reports said many are balking at the...

The sight of a restaurant full of customers in Greece is a rarity these days, as supported by figures reported by the SEPOA association of restaurateurs on Thursday which pointed to a 40% decline in turnover year-on-year this fall,...

Finance Ministry notified it seeks to employ 2,235 controllers in order to fight tax evasion. This is a new team of auditors, as most of them lack relevant experience. According to the notification, 75% of positions will come from internal transfers...

The Fund for the Exploitation of State-owned Private Property (TAIPED), the new public agency tasked with enacting the Greek government's privatization plans, has officially begun procedures to exploit a series of properties and infrastructure owned by the state's property...

ATHENS – Official from the Troika of international lenders keeping Greece on economic life support with rescue loans will wrap up a 10-day visit here on Dec. 18 and said they want some firm proposals on demands to further...

Thousands of Cypriot public servants went on a three-hour strike on Tuesday to protest a proposed two-year salary freeze and on another strike on Thursday against the new austerity measures to be imposed. The strike affected hospitals, flights from and...

Unpaid bills of exchange and bounced cheques amounted to €2.15 billion in November 2011, interbanking company Tiresias said on Thursday. In November, 14,181 cheques were bounced amounting to €165.8 million, increased by 38.66%, compared with October 2011 and decreased by...

Jobless rate rose to 17.7% in the third quarter of the year from 16.3% in the prior quarter, with those aged below 30 the hardest hit, the country's statistics agency said Thursday. The jobless figure was 12.4% in the third...

Greek Finance Ministry examines the possibility of increasing taxation in deposits. Faced with the sharp shortfall in tax revenue, the leadership of the ministry is seriously considering the possibility of taxing the last household asset, which had remained intact...

ATHENS – Even as interim Prime Minister Lucas Papademos, who is leading a temporary coalition government, insisted that he’s on track to keep international aid coming and eventually right the technically-bankrupt country, statistics show the economy is contracting worse...

The Greek government΄s budget deficit is expected to be equivalent to around 10% of gross domestic product this year, above an already revised target of around 9% of GDP, a senior government official said Wednesday. He added that the economy...

ATHENS – Buried under waves of austerity measures, beleaguered Greeks shouldn't have to suffer any more tax hikes, one of its principal international lenders, the International Monetary Fund, said, but the government is still proceeding with plans to reduce...

A symposium titled 'Greek Food & Beverage Exports to Russia - Regional Cooperation' was organised in Athens by the Hellenic-Russian Chamber of Commerce in order to promote Greek products' exports to the Russian market. Greek Deputy Foreign Minister Dimitris Dollis...

According to a recent study done about olive oil in Greece, it said that Greece is the third biggest country in olive production, having 13 percent of international production along with Italy being at 40 percent and Spain at...

Greek State Budget has a huge gap of €6.886 billion in the January-November period, mainly due to the sharp decline of revenue, but also because of the major excess in expenditure. According to the preliminary data available for the execution...