All News on Economics in Greece

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.

In a not so subtle jab at European officials and their dealings with Greece, the IMF on Feb. 23 issued a warning against pretending that "unpayable debts" can be repaid.

In a blog written by the International Monetary Fund's chief Greece negotiator, its chief economist, and its general counsel, the fund rarely mentions the crisis-ridden country by name.

The climate of political and economic uncertainty in Greece has curbed, albeit temporarily, the recovery of the Greek luxury home market, which last year there saw significant activity and an increase in transaction volume after the slump of 2015.

The illegal economy, political uncertainty, high energy costs, the inefficiency of the state and corruption are the five main obstacles to the development of business activity in Greece. The underground economy is considered the biggest problem of the lot by almost half of the enterprises surveyed by the European Bank for Reconstruction and Development.

The European Stability Mechanism's decision to unfreeze short-term debt lightening measures for Greece, and the seven consecutive sessions of decline for the banks index fueled a significant upturn on Tuesday both in stock prices and turnover.