recession

The number of defaulting debtors in Greece is growing, and experts are warning that the situation could blow up and smash hopes the country can finally emerge from a crippling six-year recession this year. Greece’s central bank says that non-performing...

The Greek Foundation of Economic and Industrial Research (IOBE) presented  its report on the Greek economy for the first quarter of 2014 on Wednesday, April 16. According to the report, the Greek economy will stabilize, and may even grow slightly, after several years of...

Statistical authority ELSTAT data shows production increased in 12 of the 24 industrial sectors in Greece during the first two months of 2014, compared to the same period last year. This phenomenon is partly due to increased domestic demand, although industrial exports dipped slightly. ELSTAT reported manufacturing in Greece...

After six years of recession, and only two years after defaulting on its debts, the government in Athens believes it can return to the international bond market this month, upon some signs that economic conditions in Greece are improving. The...

Bloomberg Businessweek published an article entitled "Yasou: Greece Is Pulling Off an Amazing Recovery," praising Greece's efforts and recovery. According to the article, the yield on the Greek government’s 10-year debt had reached 30%. However, today the yield is less...

Recession and rising unemployment in Greece has led to a decrease in the number of births as more and more couples are unable to bear the financial and psychological "cost" of having a child. Doctors of the World estimate that...

Official data released on Thursday shows that unemployment in Greece reached 27.5 % in the fourth quarter of 2013, remaining the highest in the euro zone. Greece, with a population of about 10 million people, has 1.36 million unemployed. Since the outbreak...

Despite the assurances of the Greek government that the country will recover by 2014, gross domestic product data released on Tuesday, show that the recession is getting deeper. According to the Greek statistics service ELSTAT, Greece's GDP shrank by 3.9% in...

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...

According to the Hellenic Statistic Authority (ELSTAT) and the Bank of Greece, 4 of 13 most essential sectors of the Greek economy have shown positive development after reeling 5 years of a deep and dramatic recession. In other words there...