recession

Greece is caught in a self-reinforcing recessionary spiral caused by its high and unsustainable debt, which must be deeply restructured in order to allow recovery, according to an interim report published by the Parliamentary Budget Office (PBO) on Wednesday...

Two out of three executives in Greece consider moving abroad, either with the company or by themselves, a new study shows. In a study conducted by ICAP Group with the participation of 600 executives, only one in three are happy...

The European Commission predicts that the end of 2016 will find Greece with a 0.3% recession, but 2017 will follow with a 2.7% growth, according to the autumn estimates. The EC report says that Greek economy stagnated in the first...

Retail stores in Athens continue to shut down due to the prolonged recession, with the percentages of closed shops in some areas exceeding 40%. According to data by the Institute of Trade and Services of the Hellenic Confederation of Commerce...

The new taxes that will pile up on Greek households will bring a new recession, despite the government's optimistic forecast of 2.7% growth, says the Parliamentary Budget Office (GPV). The GPV economists' report warns the government that its forecasts for...

A Greek government official says that Greece predicts 2.7 percent in economic growth for next year for its first rebound after a seven-year recession. The source, familiar with Greece's 2017 draft budget that is to be tabled in Greek...

Economic recovery in Greece seems elusive, despite the optimistic forecasts of the country's government and foreign creditors, a Wall Street Journal report says. The International Monetary Fund, through the head of its team in Greece, recently said that the Greek...

You cannot accuse New Democracy chief Kyriakos Mitsotakis for blatant populism. Since he became the leader of the conservative party, he knew that he cannot go against the master of populism, Alexis Tsipras. So for his speech at the...

The Greek economy is in ongoing recession with forecasts looking ominous for the sustainability of businesses, consumption and unemployment, a report says. According to a study by the Institute of Small Business of the Hellenic Confederation of Professionals, Craftsmen and...

The Hellenic Statistical Authority (ELSTAT) announced the GDP for the 2nd quarter for 2016. Seasonally adjusted data showed that GDP in the second quarter increased by 0.2 percent compared to the first quarter against an increase of 0.3 percent...