News archive of July 2017

Half of Greeks can't afford a week's holiday

More than half of Greeks cannot afford to go for a one-week holiday, according to research conducted and released Monday by Eurostat, the European Union's statistics service.

Stournaras blasts 'unsatisfactory' institutions, 'fortresses' against excellence

Bank of Greece Governor Yannis Stournaras identified the unsatisfactory operation of institutions as the main obstacle to the country's economic recovery.

Speaking at an interview on Monday he also stressed the significance of education and the need to highlight excellence and assessment, while referring to "fortresses" that want the country to remain stagnant.

Tourism could create more jobs, study argues

Employment in Greece owes a lot to tourism, and the potential is there for an even greater contribution to the labor market, according to a study by the Labor Institute of the General Confederation of Greek Labor (INE/GSEE).

Germany calls for retaliation against 'illegal' US sanctions on Russia

New penalties against Moscow proposed by US lawmakers violate international law and officials in Brussels should consider countermeasures, the German economy minister said on Monday.

"We consider this as being against international law, plain and simple," Brigitte Zypries told the Funke Mediengruppe newspaper chain.

"Greater Albania" drone operator seeks asylum in Croatia

Photo: Tanjug

Ismail Morina, arrested in Croatia on Serbia's warrant over a scandal during a football game played in Belgrade in 2014, is seeking political asylum in Croatia.

Vucic: Dialogue doesn't mean Kosovo recognition


"My call to dialogue does not mean the recognition of Kosovo," says Serbian President Aleksandar Vucic.

Fresh snag for realty market in Greece

It seems that Greece is striving to become the country with the worst bureaucracy in the world when it comes to property transactions, as a document that was taken off the list of necessary papers for a house sale three years ago has just been restored to its rightful place in the reams of red tape.

A summer tax tornado as 29.2 billion euros due by year's end

Greece's 8 million individual taxpayers and companies will have to hand over some 14.8 billion euros in taxes between now and the end of the year, on the basis of their revenues, property and other assets. When indirect taxes are added, the total comes to some 29.2 billion euros, with the bulk of it due in the summer months.

Retail sales edge up in May

Greek retail sales by volume rose 0.3 percent in May compared to the same month a year ago, after a downwardly revised 2.1 percent rise in April, statistics service ELSTAT said on Monday.

Retail sales were led higher by books, stationary and department stores, the data showed.


ATHEX: Athens stock market's decline continues

The Greek bourse ended July with a monthly decline of 1.40 percent for its benchmark, mainly due to the drop recorded on Monday that was led by bank stocks. Tuesday's session is seen as crucial because a lack of reaction by buyers will signify a further drop in the medium term.