All News on Economics in Greece

Greece must prove it means business

As next year looks set to bring multiple challenges in global markets, it is important for Greece to convince international investors that the fiscal risk has diminished and to normalize its credit system, UBS Wealth Management Global Chief Economist Paul Donovan tells Kathimerini.

Greek bank shares tumble amid fears over bad loans

Greek banking shares are down sharply amid investor fears over lenders' needs to reduce their large stock of bad loans resulting from the financial crisis.

A possible path for employment in the years ahead

In this follow-up Note for Discussion, we can complete the decomposition of the working-age population (WAP) into its component parts of participation (those people of working age who are working or looking for work), the labor force, unemployment, and, now, employment.

Varoufakis launches new political party

Yanis Varoufakis, Greece's former finance minister who transfixed Europe with his unconventional style at the climax of the debt crisis, launched a new party on Monday promising to free his country from debt bondage.

Joseph Stiglitz discusses 'value crisis' at Davos, Greek crisis

Joseph Stiglitz is a Davos veteran. The renowned economist and winner of the 2001 Nobel Memorial Prize has attended dozens of World Economic Forum sessions in a number of capacities (including vice president of the World Bank and chairman of the Council of Economic Advisers under the Clinton administration). 

Outgoing EWG leader: only SYRIZA gov't really embraced reforms

Outgoing Euro Working Group Thomas Wieser has said that no other government has embraced economic reforms linked to Greece's bailout program to the extent that the current coalition led by leftist SYRIZA.

Explosion damages court complex; no injuries

A powerful explosion damaged a court complex in central Athens early Friday, hours after Parliament voted to crackdown on anti-bailout protesters who gather regularly at the building.

Police said the blast occurred before dawn, following warning telephone calls to the offices of a daily newspaper and news website.

Bailout programs have only helped 'to a limited extent'

The three bailout programs applied since 2010 "only helped Greece to recover to a limited extent," while all of them lacked a growth strategy for the economy, according to a report by the European Court of Auditors (ECA) on the Greek bailouts issued on Thursday.

Greek banks plan record sale of bad loans as pressure mounts

Three of Greece's largest lenders plan to sell up to 5.5 billion euros in bad loans by early next year, sources said, as the country's central bank chief called on the creaking banking sector to act faster to tackle its bad-debt problem.

Greece plans billion euro handout for the poor

Greece plans to offer handouts worth 1 billion euros to poor Greeks who have suffered during the seven-year debt crisis after beating its budget targets this year, the government said on Thursday.

Flexible labor forms do the job

The Labor Ministry's September hirings data point to the complete domination of flexible forms of labor in Greece, leading to an increase in the rate of underemployment, which has almost trebled over the course of the crisis.

Part-time work is on the rise as wages fall

Part-time workers and the hard-core unemployed have almost tripled during Greece's debt crisis despite a recent drop in the jobless rate, the country's largest labor union GSEE said Wednesday. Hundreds of thousands of people have lost their jobs in Greece since it tumbled into crisis in 2010.

'Shame on you' chant Greek pensioners over bailout cutbacks

Several hundred elderly Greeks shouting "shame" marched through Athens on Tuesday protesting against deep cutbacks to pension payments ordered by the indebted country's creditors.

In weak autumn sun and a city teeming with tourists, pensioners took to the streets angered by more than a dozen rounds of cuts since Greece toppled deep into crisis in 2010.

Greek journalists on 24-hour strike over social security

Greek journalists have walked off the job for 24 hours to protest underfunding of their social security fund, which came as a result of austerity measures demanded by Greece's bailout creditors.