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Eurozone

Inflation Soars to 8 Percent in Greece, 7.5 Percent in the EU in March

Inflation in Greece jumped to 8 percent in March, and to 7.5 percent in the EU, according to preliminary data released on Friday by Eurostat, the statistical office of the European Union. The inflation rate in Greece was 7.2 percent...

January 2002: Greece Enters the Eurozone

It has been 20 years since Greece's accession to the eurozone, an anniversary that has been overshadowed by the spread of the COVID-19 omicron variant

Greece Hits Biggest Year-on-Year GDP Growth Rate in the Eurozone

Eurostat reported on Tuesday that Greece had the largest gross domestic product (GDP) growth rate in the third quarter of 2021 in the entire Eurozone. The statistics agency said that Greece's GDP increased a staggering 13.7% in the third quarter...

Former EU Chief Juncker Blames Merkel On Handling of Greek Crisis

Former European Commission chief Jean-Claude Juncker criticized outgoing German Chancellor Angela Merkel’s handling the Greek debt crisis in 2015 on Thursday, saying that her “hesitations” and “reluctance” undermined efforts to deal with the situation. “I think her biggest failure was...

Greece’s Piraeus Bank Optimistic for the Future

One of Greece's largest banks, the Piraeus Bank, issued a statement on Wednesday regarding its performance so far in 2021.

EU Posts Large Trade Surplus as Imports Drop in 2020

The Eurozone's trade surplus posted record numbers in June, swelling to 21.2 billion euros ($25 million) as the bloc experienced a corresponding record decline in the importation of goods due to the Covid-19 pandemic, according to a recent report...

April 23, 2010: Ten Years Since the Official Beginning of the Greek Financial Crisis

It was a day much like this on April 23, 2010, when the then-Prime Minister of Greece George Papandreou announced from picturesque Castellorizo Island that Greece would officially ask for financial assistance from its fellow Eurozone member-states as the...

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...

Greek Bonds Drop Below 1% Milestone For the First Time in History

Greece's 10-year state bonds broke into new historic record-low territory on Wednesday, dropping below the one-percent milestone for the first time in history. The country's 10-year bonds were trading at a yield of 0.962% on Wednesday afternoon, down from 1.08%...

Could 2020 Signal the End for the 1 and 2 Euro Cent Coins?

The fiscal authorities of the European Union are considering the possibility of abolishing the coins which represent the value of one and two euro cents, according to an EU document that recently became public. The European Commission is thinking about...