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financial crisis

ELSTAT: More Than 500,000 Greeks Left Greece Over Past 5 Years

With the financial crisis in Greece continuing to result in more austerities and less money in Greek professionals' pockets, many people have decided to move abroad. According to ELSTAT, the Hellenic Statistical Authority, over the past five years more than 500,000...

European Commission Report: Greek SMEs Have Declined Drastically Amidst Financial Crisis

The latest numbers released by the European Commission regarding the number of small and medium-sized enterprises (SMEs) show that in the past 7 years, between 2008 and 2015, there has been a shutdown of some 145,000 businesses in Greece. The...

Greeks Cutting Back on Dental Care Due to Financial Crisis

According to ELSTAT, spending on dental hygiene in Greece has fallen dramatically during the past 7 years of the financial crisis hitting the nation. In fact, the numbers are so staggering that there is a conference dealing with the impact...

Tsipras Publishes Plans to Help Those Hit Hardest by 6 Years of Austerities

Prime Minister Alexis Tsipras vowed to help those most affected by six years of harsh austerity in Greece in an article published in the newspaper Efimeritha ton Syntakton on Saturday. "We cannot and will not leave behind those hit the hardest...

BoG: Financial Crisis Causing Property Prices to Free-Fall

Property prices are in free-fall, with apartment prices down 41.4% in the 2006-2016 period, Theodoros Mitrakos, vice-governor of the Bank of Greece (BoG) said on Thursday. Addressing a real estate conference, Mitrakos said nominal prices for office space and high-standard...

Sklavenitis to Take Ownership of Rival Supermarket Chain Marinopoulos

According to the Greek newspaper Kathimerini, Sklavenitis is to sign a memorandum of understanding (MoU) on Wednesday with the creditor's bank of its struggling rival supermarket chain, Marinopoulos. This legal action of signing the MoU will provide the platform and...

Safety Concerns Rise as Businesses Closing in Athens Center Leaves Immigrants Unemployed

According to recent data released by the Chamber of Commerce and Industry, the city center of Athens has seen an increase in businesses closing due to the economic crisis facing Greece over the past several years. The report breaks down...

Lawyers’ Strike Ends, Backlogged Cases Could Take 10 Years to Process

The lawyers' strike is starting to wind down and looking towards June 17 to restart processing pending cases. The six month strike has dealt the justice system a daunting task, with the total number of pending cases that have been...

ERT President Tsaknis: 'Greek Eurovision Song Will Pay Tribute to Refugees'

Dionysis Tsaknis, the president of the Greek public broadcaster ERT announced that Greece’s song for the 61st Eurovision Song Contest, in Stockholm will touch on the subjects of the refugee and financial crisis. In a way, he believes that...

Greece Among Countries With Most Citizens Living Overseas

OECD ranked its country members based on the number of people living overseas. Ireland came first, with the highest number of citizens living in countries overseas, even though the country is quickly recovering from the devastating impact of an...