Economy
Economy
Kyriakos Mitsotakis: High Taxation Leads People to 'Black Economy'
Growth will not be achieved because the government's choices lead the country to stagnation and recession, main opposition New Democracy (ND)leader Kyriakos Mitsotakis said in an interview to SKAI radio late Sunday.
Mitsotakis claimed that taxation leads the people to...
Cyprus
Statistical Service of Cyprus: Cyprus’ Inflation Rate for May 2016 at -2.1%
Cyprus’ inflation rate for May 2016 decreased at a rate of -2.1%, according to the Statistical Service of Cyprus.
The Consumer Price Index for May 2016 increased by 0.61 units to 98.66 units compared to 98.05 units in April 2016....
Economy
Greeks Slash Spending on Domestic and Foreign Tourism
Last Wednesday the Institute for Tourism Research and Forecasts (ITEP) published a study demonstrating that Greeks have considerably slashed their spending on vacations from 2008 to 2014.
The difference in the amount of money Greeks spent traveling abroad in this time period...
Economy
Greek Stats Agency Shows GDP Shrinkage, But Slight Rise in PPI
The Hellenic Statistical Authority (ELSTAT) released its seasonally adjusted data that shows a shrinkage in the Greek GDP by 1.4 percent in the first quarter of 2016 compared to the same period in the previous year and a decrease...
Economy
Alexis Tsipras-Angela Merkel Have Brief Talks on Greek Issues
Prime Minister Alexis Tsipras met with German Chancellor Angela Merkel on the sidelines of the World Humanitarian Summit in Istanbul on Monday. Their talk lasted for 40 minutes and they are said to have discussed the refugee crisis and...
Greece
Chios Named One of Best Scuba Diving Sites in Europe Amidst Dealing With Refugee Crisis
As the international diving website divein.com voted Chios among the top 10 best scuba dive sites in Europe, it might be too little too late in light of the negative publicity that Greece has received regarding the refugee crisis,...
Economy
Fears of Grexit and Drachma Drives Greeks to Unload Hidden Cash in Real-estate
As the outrage mounts in Greece over even tougher austerity measures and €5.4 billion budget cuts, the fear of a Grexit and revival of the drachma is a subject of much discussion throughout the country. In fact, according to...
Economy
Greek Shadow Economy Unchanged at 25% of GDP for Past 15 Years, According to Professor
Greece’s shadow economy is estimated to have averaged at 25% of GDP in the last 15 years, which means that economic activity equal to one fourth of the country’s GDP exists, but is not declared in the official economy,...
Economy
Kyriakos Mitsotakis: Greece Needs a Different Policy Mix
Greece needs a different policy mix that will emphasize structural reforms and not taxes, New Democracy leader Kyriakos Mitsotakis said on Tuesday following a meeting in Paris with Angel Gurría, the head of the Organisation for Economic Co-operation and...
Business
Greek PM Tsipras Welcomes TAP Construction as Start of New Era for Greece
Radical Left Coalition (SYRIZA) Prime Minister Alexis Tsipras said Greece is entering a new era, leaving a period of instability and uncertainty behind, during his speech at the inauguration of the construction of the TransAdriatic Pipeline (TAP) in Thessaloniki....