All News on Economics in Greece
Public properties being sold for a fraction of their actual value
Public properties, including real estate assets, are very often sold for extremely low prices, as the political risk factor supersedes even the crucial financial risk that comes with investing in Greece.
Grexit 'won't happen' says Krugman, though it would be best for Greece
Greece would be better off outside the eurozone, American economist and op-ed columnist for The New York Times Paul Krugman told the Athens Democracy Forum on Wednesday.
Responding to a question by executive editor of Kathimerini newspaper Alexis Papachelas, the Nobel Prize-winning economist said: "the question is academic… it won't happen."
Bulgaria's Exports Grew 4% in 2015 - Final Data
Bulgaria exported BGN 44.949 M worth of goods last year, the National Statistical Institute (NSI)'s final data shows.
The figure constitutes an increase of 4% compared to the previous year.
The highest growth in exports was observed in March (24.4%), the largest fall having been in September (7.5%).
Lagarde: Greece does not assume its responsibilities
“Greece cannot just continuously tag along and expect that things will be sorted out. The Greek leaders will need to take more ownership of reestablishing their country” stressed the head of the International Monetary Fund, Christine Lagarde, in an interview with Bloomberg.
After Greece… Y. Varoufakis eyes Aussie recession
Greek Finance Minister Yanis Varoufakis argues that a weak domestic investment and slowdown in China will cause Australia to spiral towards recession while speaking to Fairfax Media as part of his tour of Australia. The one-time Sydney Uni economics lecturer said that China was crucial to Australia, but it isn’t strong enough to defy the global deflationary atmosphere.
Stiglitz points to refugees mixed with austerity as a dangerous cocktail in Greece
Nobel laureate economist Joseph E. Stiglitz spoke about Greece during athe conference of UNIDO in Vienna. A keynote speaker at the event, he was asked by reporters about Greece and said that the country is under strong pressure as a result of austerity measures while it is also being called on to assume the burden of the refugee crisis.
Greece reaches deal with lenders over reforms unlocking stalled aid: Minister
Greece reached an agreement with its lenders on financial reforms early on Nov. 17, its finance minister said, removing a major obstacle holding up fresh bailout loans for the cash-starved country.
Seamen’s union declares new 48-hour strike
Greece’s national seamen’s union federation PNO on Tuesday announced a new 48-hour strike.
The strike will start on Wednesday, immediately after the current 48-hour seamen’s strike ends at 6:00 on Wednesday morning.
What country has the most debt? Not Greece! (See chart)
A country with slow economic growth receives less in tax revenue and has to borrow money that accumulates as public debt. This may not be a bad thing unless the future economic wellbeing of a country is at risk. The map below by howmuch.net compares debt-to-GDP ratios of the world’s most representative economies.
Nobel-laureate J. Stiglitz blames Germany for Greece’s mess, forecasts bailout failure
Nobel laureate Joseph Stiglitz criticized the austerity policies imposed on Greece by Germany and the eurozone during an interview with German newspaper Tagesspiegel. Stiglitz blamed Germany “for the mess.”
Nobel laureate J. Stiglitz points to EU deficit… in democracy!
Nobel laureate economist Joseph Stiglitz gave an interview just hours before Greece’s snap election on September 20. He said that Grexit should be viewed as a last resort for Athens. “The Grexit is no good solution, but if the Troika continues to insist on measures that stifle the economy, the Greeks should leave the eurozone,” he said.
Bulgaria Had Negative Balance of Trade in 2014
The final figures on foreign trade for 2014, which were released by the National Statistical Institute (NSI) on Friday, reveal that Bulgaria had a negative balance of trade with imports exceeding exports.
In 2014, the value of exported goods amounted to BGN 43.2 B, which represented a decrease of 0.7 % compared to 2013.
July trade deficit down in July, says Greek statistic authority
The Hellenic Statistical Authority (EL.STAT) released a report showing a 63.1% fall in Greece’s trade deficit, as the both exports and imports recorded a drop in July. More specifically, the total revenue of imports stood at just over 3bln Euros, compared to 4.5bln in July 2014, a 32% reduction.
Fitch: Greek depositors to avoid haircut if BRRD imposed by end of year
Depositors with cash in still capital control-plagued Greek banks will possibly avoid a haircut when the country implements the Bank Recovery and Resolution Directive (BRRD), Fitch Ratings announced on Wednesday. Nevertheless, the agency warned that is prospect exists if the directive is imposed by the end of the year.
The country approved the BRRD legislation on July 22.
