Greece

Greek families that have seen their household incomes butchered noted an even greater reduction according to data released by the Hellenic Statistical Authority (ELSTAT). The latest figures show that consumer spending decreased by 1.1 percent dropping from 32.2 billion...

Greek households lost some 14 million euros from their available income last year, the Hellenic Statistical Authority (ELSTAT) revealed today. Apart from their income reductions, Greek households were also hit by a 10.7% reduction in workers’ pay and another...

Greek households have recorded losses of another 1.4 billion euros from their disposable income during the year's second quarter, mainly due to raised taxes. Compared with the first quarter of 2014, income and wealth taxes increased by 984 million...

Since the country entered into recession, Greeks get poorer year by year. The austerity measures haven't yet brought the promised growth, and unemployment hits record rates, while Greeks struggle to make a living. According to a Hellenic Statistical Authority (ELSTAT) report,...

Greece's crushing economic crisis and attendant austerity measures have stripped Greeks of more than a third of their disposable income in the last three years, data from the country's statistics agency ELSTAT said. Pay cuts, tax hikes and slashed pensions...

According to the European Commission's quarterly review on Employment and Social Situation, Greece is the poorest country in the European Union for 2013. The review mentions that Greeks, despite working the longest hours in Europe, earn the lowest salaries. In...

The situation for Greek employees is getting worse by the month. Recent data released by the Greek Labor Ministry state that 126,956 private-sector employees are only receiving gross salaries of 100 euros per month. A total of 343,760 employees...

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...

The era of austerity - brought on by generations of overspending - has caused Greece to lose nearly 50 percent of its Gross Domestic Product and cost 122 billion euros ($162.75 billion) in cuts to pay and social services,...

With austerity-crunched Greeks keeping their wallets in their pockets, retail stores are taking a big hit, with sales dropping like a stone in 2012, for a fourth consecutive year. The businesses reported an overall 10 percent slide and expect...

Even as Greek Prime Minister Antonis Samaras said the pending release of a $56.7 billion in a first series of installments in a second bailout of $172 billion has saved Greece, the Organisation for Economic Co-Operation and Development (OECD)...

Greece's economy remains mired in a deep recession with no signs of an upturn in sight, the European Commission said Friday, as waves of austerity measures and collapsing consumer and business confidence weigh on output. According to the spring forecasts...