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Greek News

Cypriots Choose Greece for Holidays

The Cypriots have given once again the vote of confidence to Greece as they choose the Greek islands to spend their holidays. Greece is followed by France, Italy, Austria and the Czech Republic as destinations of choice for Cypriot travelers. According...

Meet NASA’s Greek "Planet Doctor"

Thanasis Economou has been described as the "Planet Doctor," since almost all space missions carry an instrument he developed to help analyze the composition of our neighboring planets. Since the Pathfinder landed on Mars in 1977, until now that Rosetta is shadowing comet 67P /...

4.7 Magnitude Earthquake Shakes Crete Island in Greece

An earthquake with magnitude 4.7 occurred near Iraklion, Crete, Greece at 11.20 am on Aug 8, 2014 the U.S. Geological Survey said. There have been no reports of injuries, or, property damages. The Mediterranean region is seismically active due to the...

Greek Wine and Olive Oil Survive Russia’s Import Embargo

Baby food and alcoholic drinks, including wine, have been excluded from the embargo the Russian government decided to impose on imports from EU countries, the United States, Australia, Canada and Norway. Although the ban on Greek goods exported to...

Despite Reports Mount Athos Avaton Not Repealed

Greek Newspaper "Orthodoxos Typos," recently reported that the World Council of Churches (WCC) decided the repeal of Mount Athos avaton, allowing women to visit the holy area, during its latest convention in Busan, South Korea. The newspaper wrote that during the convention, 16...

Greek Voice of America Silenced After Budget Cuts

The Greek Service of the Voice of America announced today that it will soon end its broadcasts, after 72 years of operation. The final broadcast in Greece will be on Tuesday morning, August 12, via SKAI TV. The announcement came...

Greece Offers Humanitarian Aid to Gaza Strip

On Thursday, Greece announced the disbursement of 500,000 euros (669,000 U.S. dollars) to the United Nations Relief and Works Agency (UNRWA) to deal with the ongoing humanitarian crisis in Gaza Strip after the ceasefire. Debt-laden Greece also expressed via UNRWA and...

Foreign Investors Interested in Greece's Insurance Sector

Greece's private insurance sector that was largely damaged by the five-year recession seems to attract foreign investment. With significant loss of jobs, the private insurance sector lost 22% of its turnover, from 5.2 billion euros at the end of 2008, fell to 4 billion...

Council of Europe Questions Greek Anti-Corruption Law

The recent anti-corruption law aimed to address issues of bribery in the Greek public sector, is a “major step forward” for the country, according to the Council of Europe. However, the institution is questioning whether the law will live up to...

Greek PM Appoints New Justice Heads

Greek Prime Minister Antonis Samaras chaired a cabinet council meeting to appoint the new leadership of the country's high courts. New appointees include Athanassios Koutroumanos to head Areios Pagos, Greece's highest Court , Nikos Angelaras as president of the Court of Audits,...

Property Tax Chaos Ends with Greek PM's Intervention

Errors in the system that computes the new property tax (ENFIA) in Greece have caused chaos in the last few days as homeowners saw that they had to pay up to ten times more after the recent overhaul in the...

Greek Real Estate Prices Continue to Drop

Property values in Greece continue to drop as the Greek economy struggles to recover. Greek real estate has lost 7.3% of its value compared to last year, according to a survey released by the Bank of Greece. Based on revised data received from...

Greece 's Unemployment Rate Shows Marginal Drop

Greece's unemployment rate fell slightly to 27.2 percent in May, from 27.3 percent in April, according to an announcement by the Greek statistics agency ELSTAT on Thursday. After peaking close to 28% in 2013, the unemployment rate has been declining at a very slow...

Greek Government Records €1.8 Billion Primary Surplus

In a report on budget execution, the finance ministry said that the primary surplus totalled 1.8 billion euros in the first half of 2014, up from a primary deficit of 1.9 billion euros in the corresponding period in 2013....

Greece Passes Reform Bill to Receive Troika Aid Tranche

The Greek Government passed a new bill on Wednesday, August 6, establishing a new series of economic reforms - as requested by the Troika - in order to receive the next bailout installment of 1 billion euros. During the summer...