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Unemployment: The Main Suicide Cause Among Greeks

The financial crisis in Greece has caused the unemployment rate to increase dramatically, especially compared to the rest of Europe, while the number of people who are not able to repay their loans has also risen significantly. According to research...

Piraeus Bank Writes Off Debts Under €20,000 for Poverty-Stricken Greeks

Piraeus Bank, one of the four major Greek banks, has decided to write off debts of up to 20,000 euros and freeze debts from mortgages for poverty-stricken Greeks. The program aims at Greek citizens who fall in the category of...

Reuters: Greece to Seek 50-Year Extension on Loan Repayment

Reuters revealed Wednesday that Greece is planning to ask for a 50-year extension to its repayment of loans from its international creditors. “Greece will formally propose stretching the maturity of its international rescue loans to up to 50 years as part of...

Six Times More 'In the Red' Loans in the Last 5 Years

In September 2013, nearly one in three loans (31.2%) was not paid, while almost one in two borrowers (45.8%) did not pay their credit card installments. This is one of NBG’s biggest problems, as well as commercial banks that...

Greek Banks Plan for "in the red" Loans

Greek banks have reached a complex plan in order to deal with loans "in the red." According to the newspaper "Ethnos," Greek banks will move based on their own criteria. This means that they will only take into consideration the...

Countless Auctions in Greece

Greece is facing forced auctions of real estate whereas banks are burdened by toxic loans that have increased dramatically, mentions Wiener Zeitung. "The toxic loans growing by leaps and bounds" is the title of  anAustrian report in Wiener Zeitung, which...

Two out of Three Citizens Struggle Economically

Two out of three citizens, who turned to the economic system for borrowing, in order to cover all types of needs (housing, consumer etc.) are now unemployed, showing a complete inability to meet obligations towards the banks. According to data...

Loans and Deposits Reduced in August 2013

Loans and deposits were reduced in August 2013. According to data by the Bank of Greece, it was observed that in deposits (that businesses and households hold in Greek banks) there was a small outflow, as the total reserve...

Financial Times: Greeks are Losing their Homes

The Troika is expected to arrive in Greece and the government is seeking a compromise as the end of the foreclosure ban for the first homes looms, the Financial Times writes in its editorial. The title of the article is...