All News on Economics in Greece
The reasons why the Greek crisis was so profound and long-lasting, and why Greece was currently the only country that had yet to emerge from memoranda programmes, were the focus of a Eurobank analysis unveiled on Wednesday. According to the study’s authors, the country’s ability to service its debts could not alone explain the protracted loss of confidence in its prospects.
New Democracy opposition reacted to the 8.5 billion euro bailout deal agreed between Greece and creditors on Thursday saying that the left-led government had "jumped under the bar."
"The government won no substantial improvement compared to the deal it turned down three weeks ago," the conservative party said in a statement.
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The outcome of the crucial EuroWorking Group in currently underway in Brussels will most likely determine whether a staff level agreement is possible between Greece and its creditors in order for talks to resume in Athens. Sources say the meeting restarted after a break under the highest degree of discreteness.
Greece will not last in the eurozone in the long run and officials working on a review of its bailout package should prepare for such a possibility, a senior member of the Bavarian sister party of Chancellor Angela Merkel's conservatives said.
Greece has lost a quarter of its national output since it first sought financial aid in 2010.
Greek economic growth was flat last year, the country's statistics service ELSTAT said on Wednesday, releasing its first estimate of full-year 2016 gross domestic product.
It said gross domestic product in volume terms and measured at constant prices was 184.5 billion euros last year, unchanged from 2015.