Monokroussos

According to Enet, Greece has hit deflation for the first time since 1968 as the country's crushing economic crisis and harsh austerity measures keep pushing down prices and consumer spending. Consumer prices fell 0.2% year-on-year in March, the first month...

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...

ATHENS – Despite more than two years of record cost-cutting, including slashes in salaries and pensions in addition to record tax hikes demanded by international lenders in return for $325 billion in two bailouts, Greece’s economy is continuing its...

ATHENS – The combination of political uncertainty and the fear that  Greece will be forced out of the Eurozone and return to the drachma have worsened the country’s ability to collect taxes, with revenues falling far short of expectations,...