Greece
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ESEE

Companies Face "Annihilation" Amid Debt Crisis

Greece's recession-hit businesses face "annihilation", a leading chamber of commerce has warned, as a fatal combination of falling sales and job cuts meant the country was in its worst economic shape for 14 years. "Returning to 1984 purchasing power levels,...

Downtown Athens: 1 in 3 Stores Closed

Greece's deep recession has forced almost a third of businesses in Athens commercial district to close down as shrinking incomes and frequent strikes have driven away customers and harsh austerity measures have made many slow spending almost to a...

Unemployment Costs Greek Economy $5 Billion Annually

With Greece's unemployment rate at a record 23.1 percent and rising, the costs are growing too. The National Confederation of Greek Commerce (ESEE) estimated that joblesness, with nearly two million people out of work, costs the economy about $5...

Greek Economic Crisis Closing Stores, Ending Dreams

In September, Christina Aggelaki, 56, will close the sporting goods store she and her husband have operated in a western Athens neighborhood for 30 years, victims of a deep recession worsened by austerity measures that has slowed spending to...

Greek Traders See Food Prices Rising, Some Selling at a Loss

Greek traders are forecasting price rises for basic foodstuffs in the months ahead as a result of hikes in the cost of farm produce internationally, as daily Kathimerini reported. As a remedy, the National Confederation of Greek Commerce, (ESEE),...

Greek Federation of Employers Asks for Reduction of Labor Costs

The Greek Federation of Employers, SEV, is asking for the reduction of labor costs as a negotiating point for talks with the unions and the government. On the other side, ESEE, the Confederation of Greek Merchants is asking for...

National Confederation of Greek Commerce ESEE Proposes an 11% Cut in Commerce Salaries

The National Confederation of Greek Commerce (ESEE) is proposing an 11 percent salary drop until the country's economy recovers from the crisis, thereby reopening negotiations for the signing of a new collective bargaining agreement in the sector. ESEE has worked...

Insurers Halting Coverage on Exports to Greece Cuts Deep

ATHENS – The decision by two of the world’s biggest trade credit insurers to halt coverage for companies importing products and goods to Greece is already starting to cripple small businesses, and many said it could be the death...

Benefits for Greek Jobless Will be Slashed Too

ATHENS – Greece’s 1,033,507 unemployed – and counting – will have their monthly benefits cut by 22 percent, dropping their only source of income during the economic crisis from $604.89 to $471.89, to keep pace with a similar cut...

Rising Percentage of Businesses Shutting Down in Athens

A total of 2,374 businesses have terminated their operations, out of a total of 9,274 enterprises operating in the Attica region, a report by the National Confederation of Hellenic Commerce (ESEE) stated on Thursday. ESEE, in a report, said the...