Greece
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GDP

Greek Banks Confident About New Stress Tests

Auditors from the American-based multinational investment management corporation BlackRock, Inc. are expected this week to finalize the methodology they will use in their new stress tests for Greek banks, following their recent recapitalization. The methodology - that is the projections...

Greece΄s Budget Surplus May Be A Minus

While the Greek government is crowing that it has achieved a primary surplus and the economy will begin to recover next year, skepticism abounds in some quarters still, particularly in a report in CNN Money which said the statistic...

BOG Governor Wants Tourism Expanded

 “Greek tourisn can contribute to the development, however, it has to reduce its seasonal nature,” stated the Governor of the Bank of Greece George Provopoulos in his speech at the conference Greek tourism and Climate Change: Adjustment Policies and...

Papandreou's 10-Minute Bailout Call

Former prime minister, George Papandreou, gave a speech on the pressure  exerted on him by his European partners in April 2010 to impose severe austerity cuts, at an event held in Edinburgh, Scotland. Papandreou even revealed the dialogues he had...

Greece Takes the Lead in Shadow Economy

Shadow economy in Greece has hit a high record of 24% of the GDP or approximately around 45 billion euros, according to a relevant research realized by the Institute of Economic Affairs. According to the survey, Greece ranks 1st among...

Greek Tax Debtors Won't Pay Fines

As Greece continues to go after workers, pensioners and the poor to pay for a crushing economic crisis while tax cheats largely escape prosecution, the country is also losing money by failing to collect more than 95 percent of...

Greece Dares to Hope

The Economist published one more article about Greece on May 4. This article, on a somewhat different wavelength, had the title Greek economy: Daring to hope, fearing to fail, and focused on the prevalent situation in Greece, the hopes...

EU Sees Smaller GDP Drop For Greece

Greece's economy may shrink 4.2 percent this year instead of 4.4 percent, an almost negligible difference if it's correct, the European Commission has re-estimated, but could return to a 0.6 percent growth next year. Most every previous estimate has...

Chinese Push Piraeus' Port Growth

The takeover of the port of Piraeus by the Chinese company Cosco, which was fought by unions, is proving to be a money-maker, expected to bring in 5.1 billion euros ($6.59 billion) by 2018, or about 2.5 percent of...

ECB: Greece Set to Return to Growth in 2014

The Greek economy is likely to start growing again in 2014, a top European Central Bank official said in a newspaper interview released Friday. "Greece will probably be able to show economic growth again in 2014," ECB executive board member...