Greece
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financial crisis

Economic Sentiment Index in Greece Reaches Pre-Crisis Levels

The economic sentiment index in Greece rose to 109.5 points in December, from 107 in November, the Greek Foundation for Economic and Industrial Research (IOBE) announced in a report on Thursday. This is the highest level seen since November of...

Data Shows 3 Out of 10 Greek Businesses Set Up During Crisis Failed

According to a study which was recently conducted and published by Greece's Center of Planning and Economic Research, three out of every ten businesses that began their operations between 2008 and 2018 failed to survive. The overall failure rate for...

Poverty Threat Among Greeks Drops Significantly But Remains High

The percentage of Greeks who are at risk of poverty or social exclusion fell by three percentage points in 2018 compared to 2017. 31.8 percent of the Greek population were at risk of poverty or social exclusion in 2018, compared...

ESM Lauds Greek Economy's Achievements, Warns About Future Measures

The European Stability Mechanism (ESM) published its annual report for the year 2018 on Thursday. The European Institution praised Greece for its recent efforts strengthen the country financially, noting that 2018 was a landmark year for the country, mostly due...

Ex-PM Samaras Reveals Chancellor Merkel First Proposed Temporary Grexit in 2012

The former Prime Minister of Greece, Antonios Samaras, revealed in a documentary aired by SKAI on Thursday night, that Angela Merkel proposed a temporary Grexit in 2012. Samaras, speaking in the latest episode of SKAI TV's ''Greek Bankruptcy'' documentary, explained...

Austerity Cuts for Civil Servants Are Legal, Says Greece's Top Court

The Council of State, Greece's highest court, ruled on Friday that the austerity cuts imposed on the country's civil servants during the years of the financial crisis were legal. The ruling became public on Monday afternoon. The decision is limited...

Study Shows Greek Hotels Overwhelmingly Dependent on Foreigners

The latest figures regarding the guests staying at Greek hotels reveal that the share of Greek citizens staying in Greek hotels has decreased significantly since the year 2010. More specifically, the report, published by the Greek Chamber of Hotels’ Institute...

Former PM Pikrammenos Asked Obama to Mediate Between Greece and Creditors During Crisis

The former caretaker Prime Minister of Greece, Panagiotis Pikrammenos, admitted that he sent a letter to Barack Obama in 2012, asking him to intervene in order to prevent the imposition of capital controls in Greece. The startling admission came...

German Ex-Finance Minister Schäuble Admits ''I Asked a Lot From The Greeks''

Wolfgang Schäuble, the former Finance minister of Germany and the current President of the German Parliament, gave an interview to Berliner Morgenpost newspaper on Monday in which he admitted that he ''asked a lot from the Greeks'' during the...

BBC Film Portrays Ten Years of Financial Turmoil in Greece (video)

The nail-biting weeks leading up to the first Greek bailout in 2010 are the subject of a new BBC documentary which aired on February 4. The spellbinding film, titled “Inside Europe -- Ten Years of Turmoil" takes viewers inside the...