Greek Economy

The current internal devaluation process in Greece includes job cuts and shrinking of domestic demand rather than structural reforms which could increase productivity, noted the International Monetary Fund (IMF) on a new report analyzing the amount of responsibility that the northern...

The Foundation for Economic and Industrial Research (IOBE) reported on Wednesday that the Greek economy should grow by 0.7% this year but the increasing unemployment rate is likely to drop less than originally estimated. IOBE, Greece's leading economic think tank, had earlier predicted a small growth for...

Portugal and Greece have money set aside to recapitalize their banks if the European Central Bank (ECB) uncovers problems during its asset-quality review and stress test, European Stability Mechanism (ESM) chief Klaus Regling said, according to Bloomberg news agency. The...

Greece's current account deficit dropped by 832 million euros in the January-May period this year to 2.5 billion euros, the Bank of Greece (BoG) said on Monday. In a report, the central bank said that the current account balance in May...

A meeting between Greek Prime Minister, Antonis Samaras and German Chancellor, Angela Merkel, took place before the EU Summit in Brussels yesterday. Government sources said that the meeting lasted about 40 minutes and was an important and in-depth discussion on...

*By Dr. Nicholas Economides - Through targeted investments, Greece will increase GDP and tax revenue as well as reduce unemployment and the debt/GDP ratio.

The government's economic team and the heads of the Troika are expected to meet again in September for the fifth review of the Greek program, in relation to a new settlement of the public debt. After a meeting between Greek...

Another paradox has made its appearance in Greece. Despite the serious financial crisis which has affected many households and left many Greeks unemployed, the car sales increased in June. More specifically, the registrations of new passenger vehicles reached 8,000. According to figures from...

The Euroworking Group on Friday approved the 1 billion euro tranche of economic aid to Greece, the Finance Ministry said. The country's lenders believe that Greece has fulfilled the first six prior actions agreed and that the loan could be...

According to Bloomberg news agency, Greece is planning on issuing three-year bonds amounting to 2-3 billion euros at the beginning of next week, after the country exited from its “market exile.” A government official who preferred to remain anonymous, spoke...