Greece
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Economy

Greeks Prefer to Invest Abroad

Greek investors appear cautiously optimistic for 2014, but they are hesitant to put their money where their mouths are. They estimate the domestic economic recovery to be weak, so are looking at foreign real estate and investment markets. For the...

Six Times More 'In the Red' Loans in the Last 5 Years

In September 2013, nearly one in three loans (31.2%) was not paid, while almost one in two borrowers (45.8%) did not pay their credit card installments. This is one of NBG’s biggest problems, as well as commercial banks that...

Cyprus: Significant Decrease of Annual Income

It appears that the economic situation of 75% of households in Cyprus has worsened compared to last year, forcing Cypriots to cut back on fun, clothing and travel expenses. The company, Prime Consulting, conducted a survey on behalf of the...

George Logothetis from Davos: “2014 is the Year of Greek Growth”

Libra Group CEO and Chairman George Logothetis is a firm believer that Greece is on the right track to gain back its lost reputation and start attracting investments. Logothetis has shown his confidence in the country not only in...

Eurozone Needs Financial Stimulus; Leaders Suggest New EU wide tax

Leaders of the four top eurozone economies called for more funds to shore up the region's lagging economy at the end of a tumultuous financial week. Following talks in Rome, French, German, Italian and Spanish leaders said they had agreed...

Canadian Ambassador Meets With Greek-Canadian Businessmen in Toronto

“This year, Canada is celebrating 70 years of friendship with Greece, since diplomatic relations between the two countries were officially established in 1942”, stated the Ambassador of Canada to Greece, Robert Peck, during his meeting with Greek – Canadian...

Australian Dollar Recovers!

 The Australian dollar recovers from the deep plunge. According to National Australia Bank's Australian business confidence plunged 10 points in August. There is doubts whether business will keep hiring employees. Unfortunately unemployment has increased the last few months. The Australian dollar...

Netherlands Claims Greece Will Go Bankrupt

According to the Dutch news program RTL Nieuws, the Ministry of Finance announced that Greece is not in the position to avoid bankruptcy. The Dutch government noted that bankruptcy is a matter of time and the question is not...

“Greeks will start begging soon” says Turkish State Minister

In a speech praising the high economic growth in Turkey in 2010, Turkish Deputy Prime Minister Bulent Arinc said "Greeks will start begging soon to survive." Bulent Arinc spoke at an inauguration ceremony at Urfa in Southeast Turkey: "In 2010...