Greek Economy

The recapitalization needs of Greece's systemic banks will be determined in the next few days after finalizing the results of current stress tests, with the aim to cover any capital needs by the end of the year, banking sources...

Hundreds of people lined up in Barcelona to listen to former Greek finance minister Yanis Varoufakis, with the pictures of the line bringing to mind scores of fans waiting in line to buy tickets to see their favorite band. It...

The Greek think-tank, Foundation for Economic & Industrial Research (IOBE) released its third quarterly report for 2015 on the current state and future of the Greek economy. The think tank highlighted that significant reforms must be undertaken for the Greek economy to recover, noting the...

An annual global study conducted by Credit Suisse revealed the effect of yet another tumultuous economic year on Greek households. Data from mid 2014 until mid 2015 showed that the average Greek's wealth fell from 98,097 dollars to 81,432 dollars in mid 2015, which translates...

The Greek private sector suffered a heavy blow in the last five years (2009-2014), according to new research conducted by Grant Thomson firm. In these five years the Greek private sector lost 19% of its workforce, thereby increasing unemployment...

Greece's tourism sector has become a poll of attraction for foreign investors as half of foreign investments in 2014 were made in tourism and real estate, according to Enterprise Greece member, Constantinos Angelopoulos. Greece retains its comparative advantage and...

Combating large-scale tax evasion is a priority for the government, Alternate Finance Minister Tryfon Alexiadis said on Thursday. In a television interview, Alexiadis said there were currently around 25,000 tax evasion cases with an estimated average tax of 600,000...

Greek unemployment rate fell to 25% of the workforce in July this year, down 1.3 points compared with July 2014, but unchanged from June, Hellenic Statistical Authority said on Thursday. The statistics service, in a report, said that the number...

Greek Finance Minister Euclid Tsakalotos, speaking in Parliament, appeared optimistic over the course of the Greek economy. "The estimates for the third quarter are much better," Tsakalotos. The completion of the evaluation, the recapitalization of banks and the issue of...

The International Monetary Fund foresees a deteriorating Greek economy, at least for the following year. In its World Economic Outlook report for October 2015 the IMF predicts that by the end of 2015 Greek GDP will have fallen by 2.3%, while...