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Majority of Greeks Believe Nation is Still in Recession

According to a survey conducted by Nielsen in the third quarter of 2018, 72 percent of Greeks still believe that the country's economy is in recession, despite the official figures showing that the economy has been continuously growing since...

Official Data Shows Greece Still in Recession in 2016

Greece's economy performed worse than the country's official creditors were expecting as it decreased by 0.2 percent last year, according to official data from the Greek statistics service (ELSTAT). ELSTAT released its second estimate of the full-year 2016 gross domestic...

SEV: Growth in Greece Will Not Come With Gyms and Hair Salons

In crisis-stricken Greece the businesses that flourish are hair salons, dry cleaners, funeral parlors, electronics repair shops and gyms, says the weekly Hellenic Federation of Enterprises (SEV) report. However, the bulletin says, such businesses will not bring growth, as the only...

Greek PM: 'We Will Not Seek Credit Line Under Supervision After Bailout Program Ends'

Greece is gradually leaving recession behind and returns to normalcy, and we will not seek a credit line after the bailout program ends in 2018, Prime Minister Alexis Tsipras said on Thursday. The prime minister spoke on the sidelines of...

Eurozone Growth at 1.7% in First Quarter; Greece Is the Only Country in Recession

The eurozone economy grew at a rate of 1.7% in the first quarter, while Greece is the only country that experienced a recession. According to Eurostat's first estimate, GDP growth in the Eurozone for the first quarter of the year...

Greek Homeless Man Finds a Home After Stranger Posts his Picture on Facebook

The story of Pavlos, the homeless man who found a home after a stranger posted his picture on Facebook has become viral, painting a vivid picture of the bleak, crisis-stricken Athenian canvas. Pavlos is one of the many who had...

Greece Caught in 'Debt Trap' Parliament Budget Office Says in 5th Interim Report

Greece is caught in a self-reinforcing recessionary spiral caused by its high and unsustainable debt, which must be deeply restructured in order to allow recovery, according to an interim report published by the Parliamentary Budget Office (PBO) on Wednesday...

Two out of Three Greek CEOs Consider Moving Abroad

Two out of three executives in Greece consider moving abroad, either with the company or by themselves, a new study shows. In a study conducted by ICAP Group with the participation of 600 executives, only one in three are happy...

European Commission: Recession in 2016, Growth in 2017 in Greece

The European Commission predicts that the end of 2016 will find Greece with a 0.3% recession, but 2017 will follow with a 2.7% growth, according to the autumn estimates. The EC report says that Greek economy stagnated in the first...

More Than One in Four Stores in Athens Has Closed Down During Crisis

Retail stores in Athens continue to shut down due to the prolonged recession, with the percentages of closed shops in some areas exceeding 40%. According to data by the Institute of Trade and Services of the Hellenic Confederation of Commerce...