Greek Economy

Greece's economy seems to have reached its lowest point, as the Greek government is unable to pay 4.4 billion euros to its suppliers. Meanwhile, the Greek insurance funds are facing the same problem with administration striving to find more resources. Over...

Fears that Greece’s negotiation with its creditors will not be fruitful have impacted the country’s political and economic sector, but also tourism. Foreign travel agencies have already demanded Greek hoteliers to sign a Greek default clause. Specifically, organizers of international conferences have...

The unprecedented and prolonged uncertainty period currently prevailing in the Greek economy has frozen investments and keeps unemployment at a very high level, as investors await an agreement with the country’s creditors, the Hellenic Federation of Enterprises (SEV) said...

  By Thanasis Delistathis* / @tdelistathis Friends often ask me to opine on the Greek debt crisis. They are looking for some insight into what is going on and why the country is at the brink of bankruptcy. I suppose they...

Greece's current account balance showed a 404-million-euro deficit in March, up 316 million compared to the same month last year, the Bank of Greece (BoG) said on Friday. In a monthly report, the central bank attributed this development to a decline...

The Greek economy is stagnating and the situation is getting worse each day due to the uncertainty over the agreement with creditors. According to the National Confederation of Hellenic Commerce (ESEE), each day that passes without a deal, Greece is...

Greek Finance Minister Yanis Varoufakis said that payments for wages and pensions are a priority and if was to choose between paying Greece's creditors or the country's population he would choose the latter. "I hope we will be able to...

After almost one hundred years flax will be grown again in Crete for textile use. The Penelope Gandhi mission women’s team, in cooperation with the Technical Educational Institute of Crete students and the University of Mountains decided to grow...

European Commission President Jean-Claude Juncker attempted to provide a solution for an agreement between Greece and its international creditors, Greek Daily to Vima reported. According to the report Juncker submitted the alleged proposal to Greece and all other parties involved on...

The government's aim in the negotiations with the creditors is to stop the self-reinforcing crisis and redistribute the burdens, Greek Finance Minister Yanis Varoufakis stressed on Friday in statements to 'ERTOpen'. He also underlined that the government had not...