Economy

IMF Warns Greece Could Face The Worst Coronavirus Recession in Eurozone

The International Monetary Fund (IMF) recently presented its World Economic Outlook, in which it predicts that Greece could experience one of the worst recessions in the world due to the coronavirus pandemic. The IMF said that Athens will see a...

Greek Labor Market Records 19-Year Low in March Due to Coronavirus Lockdown

According to Ergane, the Information department of the Greek Ministry of Labor, the Greek labor market recorded extremely negative numbers for employment in March of 2020. According to Ergane's data, the Greek labor market recorded a total of 41,903 fewer jobs...

Greek Consumers Significantly Increase Use of E-commerce, Survey Shows

Greek consumers have significantly increased their use of e-commerce due to the coronavirus pandemic, an online survey conducted by the Research Institute of Retail Consumer Goods and ELTRUN, the e-commerce laboratory of the Athens University of Economics and Business,...

Greek Shop Creates Coronavirus-Era Easter Bunnies With Face Masks

A confectioner's shop in northern Athens recently found a way to tweak their traditional Easter chocolate bunnies to reflect the current reality of the worldwide coronavirus pandemic. The candy store, located in the region of Lykovrisi in northern Athens, is...

Canadian Milk Producers Dump Tons of Fresh Milk as Demand Slumps

Many sectors of the economy worldwide are experiencing harsh ramifications from the coronavirus pandemic. One of these, perhaps surprisingly, is milk production in Canada. The demand for fresh milk has now dropped significantly, due to the simple fact that consumers have...

Greece Expects 4% Recession, as European Economy Enters Uncharted Territory

Christos Staikouras, the Greek Finance Minister, expressed on Sunday his belief that the Greek economy will shrink by four percent in 2020 due to the reduction of economic activity the coronavirus pandemic has brought upon the country. Speaking with Greece's...

Coronavirus Pandemic: EU Approves €2 Billion Aid Package to Support Greek Businesses

The European Commission has approved a 2 billion euro Greek aid scheme to support the Greek economy in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on March...

Supermarket Chains in Greece Announce Generous Bonuses for Their Staff

During these difficult times for all of us, doctors, nurses and carers have been at the forefront of the global fight against the coronavirus pandemic, receiving very well-deserved accolades and praise for their unstinting work in tough conditions. However, another...

Piraeus Bank Records Growing Profits During 2019

Piraeus Bank of Greece announced on Monday that it grew its net profit for the full year of 2019. This increase was aided by lower operating costs and higher net interest income. Piraeus Bank is Greece’s largest lender as measured by...

Greek Economy Expected to Contract by Up to Three Percent in 2020

Greek Finance Minister Christos Staikouras said on Thursday that the country's economy is expected to contract by between one and three percent in 2020 due to the coronavirus crisis. Speaking to Skai TV, he said he expected the impact to...