Economy

According to International Monetary Fund (IMF) officials, IMF chief economist Maurice Obstfeld and European Department Director Poul Thomsen, the financial institution is not demanding more austerities from Greece. The IMF has taken to its blog in order to defend...

Greece is known for having a shadow economy, or an underground economy where people buy undeclared or illegal products and services. In recent years the shadow economy in Greece accounts for around 24-25 percent of the economy, one of...

The short-term measures announced by Eurogroup on Monday will lower Greece’s debt by more than 45 billion euros, while rates were set at 1.5 percent, government sources said on Monday, commenting on the meeting of Eurozone’s finance ministers in Brussels. “It...

E-commerce is growing and maturing, with Greek consumers making a marked presence in the sector, ELTRUN, the e-commerce laboratory of the Athens Economics University said in its annual survey. The survey was based on a sample of 1,910 Greek online consumers...

According to Reuters, German Finance Minister Wolfgang Schaeuble has stated that he believes that Greece can have a more competitive economy once it undergoes the reforms specified by its eurozone lenders. The statement from Schaeuble came on Monday as the...

On Sunday the AFP reported that the distance between eurozone finance ministers who are set to meet on Monday, December 5 to discuss the prospects of the third bailout for Greece as well as possible debt relief strategies are...

On Monday a new report by the Foundation for Economic and Industrial Research (IOBE) warned that the new tax hike to be placed on tobacco products starting January 1, 2017 will actually cause a 100 million euro annual loss in...

Economic growth has rebounded in the second half of 2016 and it is projected to gain strength in 2017 and 2018 as structural reforms start to bear fruit; the conclusion of a policy review with creditors raises business and...

According to reports released by the Bank of Greece (BoG) the amount of spending by tourists decreased substantially in 2016 from the previous year. The data shows that the average spending of tourists on vacation in Greece from January to September...

The focus of settling non-performing loans (NPLs) should be focused on corporate loans which have reached around 65 billion euros, not primary residences, according to the latest statements by the chair of European Central Bank’s Single Supervisory Mechanism (SSM),...