Economy

The absorption of the staff of institutions which were closed, is moving in a very slow pace, according to article in the newspaper “Adesmeftos Typos”. It seems that a large number of employees are still being paid without working...

According to the newspaper Eleftherotypia, during the last season, Greek citizens gave 13.8 million euros to hospitals.  Citizens have been paying 5 euros for entering the out-patient clinic and 69 million euros for visiting doctors during the day. However, the...

In order to save annually at least 500 million euros, the Hellenic Army General Staff decided to close Military Units and Airports, and to cut down some benefits. The reduction of the number of Units will bring in 62...

The Cypriot Parliament voted for the first austerity measures. However, the rise of the TVA was postponed. The measures include salary and pension deductions for the public employees up to 148 million euros and additional taxes of 170 million euros...

German Chancellor Angela Merkel reiterated her rejection of bilateral deals on collateral in exchange for more aid to Greece in a newspaper interview Sunday, and also said she believes her current center-right government will be able to continue in...

Two of Greece’s three biggest lenders, Eurobank EFG and Alpha Bank have reached an agreement to merge, according to reports, which would create one of the biggest banking groups in the broader region. The team-up between the two lenders would...

According to an article in the Financial Times, the second economic support package will be a waste of money due to the very small participation of individuals and the conflict between Finland and other members of the Eurozone...

The number of new companies set up in May and June showed a significant increase, especially in companies set up by young people. The creation of the one-stop-shop agency has facilitated the foundation of enterprises, and the increase in...

Greek tax legislation changes resemble pretty much Latin American soap opera episodes[...]

Inactivity is observed in most of the tax offices in Greece. In the 286 tax offices, 360,370 cases were left pending by the end of the first half of the year. In the 34 biggest tax offices, there...

The magazine “Epikaira” brings to light secret communications of the Greek Prime Minister with Israel and USA regarding the exploitation of oil and gas resources as a possible solution to the economic crisis. The Exclusive Economic Zones with Cyprus...

 The economic crisis and the pressures from neighboring countries don’t seem to influence consumers according to a report from the National Statistical Service presented by the deputy of LAOS Kyriakos Velopoulos. In 2010, Greeks continued to prefer foreign products, while Germany had...

The recent acquisition of bankrupt company Fulgor by the Viohalco group through its Hellenic Cables subsidiary was the first move in a cycle of mergers and acquisitions (M&A) starting in local industry due to the Greece's three-year recession. A...

How could privatizations proceed while the Greek exchange is in free fall? What was the reason for the agreement with Finland on collaterals? Why VAT in food services jumped to 23%? Is the medium-term fiscal package on track? Will...

The exception of tax officers from the new public payroll and the delays in public reforms caused the first warnings by the low-ranking troika officials to the Greek government during the preliminary assessment of the country’s fiscal plan. According to...