Greek Economy
Economy
Fitch Affirms Greece at 'CCC'
Fitch Ratings has affirmed Greece's Long-term foreign- and local currency Issuer Default Ratings (IDRs) at 'CCC'. The issue ratings on Greece's senior unsecured foreign and local currency bonds have also been affirmed at 'CCC'. The Short-term foreign currency IDR...
Business
Greek State Unblocks Piraeus Port Sale
A senior Greek official involved in the privatization process of the Piraeus port revealed to Reuters that Greece has asked three firms to submit binding bids by September 2015 for a 51% majority stake.
The agency reports that unblocking the...
Economy
European Parliament President: EU Wants to Continue to Assist Greece
European Parliament President Martin Schulz in an interview to German newspaper Frankfurter Allgemeine Zeitung confirmed that the EU is ready to continue to financially assist Greece, but Athens should seize the opportunity.
"That is what I said to Greek Prime Minister...
Economy
Greece Returns to Recession in the First Quarter of 2015
The Greek economy entered a new period of recession as the first quarter of 2015 gross domestic product dropped by 0.2 percent compared to the fourth quarter of 2014.
According to figures by the Hellenic Statistical Authority (ELSTAT) released on...
Economy
Foreign Media Reports After Eurogroup Meeting on Greece
The talks about Greece have once again drawn the attention of foreign media reports, especially after the May 11 Eurozone Finance Ministers meeting.
BBC published an article focusing on Greek Finance Minister Yanis Varoufakis’ warning that the country’s liquidity is sufficient for...
Economy
Russia Calls on Greece to Join BRICS Bank
Russian Deputy Finance Minister Sergei Storchak called on Greece to join BRICS bank, an association of five major emerging national economies: Brazil, Russia, India, China and South Africa, during an interview with Greek news agency ANA-MPA. Referring to the...
Economy
250,000 Unsold Properties in Greece's Crisis-hit Real Estate Market
For decades the Greek banks and the real estate market were operating as communicating vessels, with the former granting long-term mortgage loans to satisfy the increasing demand for real estate properties. With Greece being through the sixth year of economic crisis, the...
Economy
Greek Gov't VP Dragasakis Discusses Negotiations, Greek Economy with ECB's Draghi
Greek Government Vice-President Yiannis Dragasakis met with the head of the European Central Bank Mario Draghi in Frankfurt on Tuesday evening.
According to the ECB, the two sides discussed the current situation of the Greek economy and reviewed the progress in...
Business
Greek Crisis Brings New Opportunities for Investment
Omaira Gill notes that while the Greek government scrambles to repay its debts "behind the scenes investors continue to eye Greece with interest."
"If investors are looking to make cheap purchases, then Greece is the place," the Abu Dhabi-based reporter wrote in...
Economy
EU Commission Slashed Greek Economy Forecasts
The European Commission slashed its previous forecasts regards the Greek economy growth in 2015 and the country’s primary surplus, announced Pierre Moscovici on Tuesday, May 5.
The Commission, which finished gathering data for its forecast on April 21, noted that...