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Tax Avalanche Will Bring Recession in Greece in 2017

The new taxes that will pile up on Greek households will bring a new recession, despite the government's optimistic forecast of 2.7% growth, says the Parliamentary Budget Office (GPV). The GPV economists' report warns the government that its forecasts for...

Greek Economy Expects Budget Surplus in its First Rebound Since Crisis Began

A Greek government official says that Greece predicts 2.7 percent in economic growth for next year for its first rebound after a seven-year recession. The source, familiar with Greece's 2017 draft budget that is to be tabled in Greek...

WSJ: Greece's Economic Recovery Elusive

Economic recovery in Greece seems elusive, despite the optimistic forecasts of the country's government and foreign creditors, a Wall Street Journal report says. The International Monetary Fund, through the head of its team in Greece, recently said that the Greek...

New Democracy Chief's Speech in Thessaloniki Had Several Grey Points

You cannot accuse New Democracy chief Kyriakos Mitsotakis for blatant populism. Since he became the leader of the conservative party, he knew that he cannot go against the master of populism, Alexis Tsipras. So for his speech at the...

Consumption of Staples Drops 5% as Greek Economy Slump Continues

The Greek economy is in ongoing recession with forecasts looking ominous for the sustainability of businesses, consumption and unemployment, a report says. According to a study by the Institute of Small Business of the Hellenic Confederation of Professionals, Craftsmen and...

ELSTAT: Greek Statistics Show Deepening Recession in First Half of 2016

The Hellenic Statistical Authority (ELSTAT) announced the GDP for the 2nd quarter for 2016. Seasonally adjusted data showed that GDP in the second quarter increased by 0.2 percent compared to the first quarter against an increase of 0.3 percent...

Citigroup: Grexit Back on Table With Escalation of Crisis in 2018

Global banker Citigroup published its monthly report on global prospects in which it notes that political uncertainty has returned to Greece. The report puts the possibility of a back on the table. The recession in Greece is expected to continue...

Greek Exports Down 8% in First Half of 2016

Greece’s exports recorded an 8 percent drop in the first half of 2016, with exporters attributing the slump to exhaustion after continuing recession and capital controls. The 8 percent decrease is the third largest among the 28 European Union member...

Greece Still in Recession for 2nd Quarter of 2016

Greece remained in recession for the second quarter of 2016, showing a 0.7% drop in gross domestic product, according to the Hellenic Statistical Authority (ELSTAT). The Greek GDP declined 0.7% compared to the same period in 2015. A new assessment will...

Citigroup Puts Grexit Back on the Table for Next 1-3 Years

Citigroup's forecast for Greece has put the danger of a Grexit back on the table. The Global Economic Outlook and Strategy report for globalists points to a deepening recession in store for Greece with political uncertainty and chances of...