Political economy

A decade ago, Greece was in the throes of a devastating debt crisis marked by years of austerity, hardship and unrest. Now, officials and investors say 2024 could be the year its rebound is finally complete.

The Greek economy is forecast to grow nearly 3% this year, approaching its pre-crisis size of 2009 and far outpacing the euro zone average of 0.8%.

When a law abolishing the Workers' Housing Organization was passed in 2012 as part of a package of stringent austerity measures, Greece gave up the last tool of state intervention in the real estate market.

One of the key figures of the 2009-2018 Greek debt crisis, Germany's former finance minister Wolfgang Schaeuble, died on Tuesday. It is a development that appears almost symbolic in this country, as the deep wounds inflicted on its economy during that period, leading to a loss of a quarter of its output, have gradually started to heal.

An alarming 90 percent of children have expressed concerns about the welfare of their family members, 62 percent expressed fear of parental unemployment, and 57 percent expressed worries about the state of the economy, according to a recent study by Istanbul Bilgi University.

Travel on Britain's railway system ground to a halt again yesterday, as the second of three days of widespread strike action this week billed as the biggest in decades got underway.

Thousands of rail workers staged the latest day-long walkout over pay and working conditions, plunging commutes into chaos and forcing many people to stay at home.

The objective value is used for the transfer of real estate due to sale, parental benefit, etc.

Turkey's economy is dragging into "stagflation," CHP deputy leader Aykut Erdoğdu warned, urging the ruling Justice and Development Party (AKP) to protect waged workers against high inflation and currency fluctuation by adopting a sliding scale system for wages. 

Electricity prices in Serbia will go up by 12 percent starting from August 1, Minister of Mining and Energy Aleksandar Antic said on Thursday.

The minister announced that excise tax on electricity will be introduced, and that the increase in price, including this excise tax, will total 12 percent.

By George Georgakopoulos

The online platform for the submission of tax declarations for incomes obtained in 2014, finally opened late on Thursday after a three-month delay.

Romania will cut value added tax (VAT) for all food products to 9% from 24% starting in June, six months earlier than planned, as budget revenue is higher than expected, Prime Minister Victor Ponta has announced.

He also said the cut in VAT rate to 9% will also apply to non-alcoholic beverages and catering services.