Latest News from Greece
Fed-up young Greeks head abroad
A lack of meritocracy and corruption are the main reasons why talented young Greeks head abroad for work, according to ICAP People Solutions, an international human resources services provider.
The results of the group's research regarding the country's brain drain were presented last month within the framework of the 3rd Human Capital Summit.
Greek poverty deepens during seven years of austerity
Over the past seven years, austerity has left visible scars in Greece's capital. A walk around Athens reveals more homeless people than ever despite some signs of a rosier economic outlook. Thousands of shops, mostly small businesses, are shuttered here and across the country. In what used to be a busy shopping arcade, closed stores are padlocked against a backdrop of hanging Greek flags.
Greece wants to tap bond markets soon after debt relief deal with lenders
Greece said on Tuesday it wants to tap bond markets soon after reaching a comprehensive deal with its international lenders, including debt relief.
Greece expects to conclude talks on fiscal issues and reforms by May 22 to conclude a crucial bailout review which will pave the way for the disbursement of vital loans.
Moscovici welcomes deal, calls for 'understanding' on debt
Pierre Moscovici, the European commissioner for economic and financial affairs, has called a preliminary deal between Greece and its lenders "a very positive development."
"It is time to turn the page on this long and difficult austerity chapter for the Greek people," Moscovici said in a statement Tuesday.
PMI: Greek factory activity shrinks in April for eighth straight month
Greek manufacturing activity contracted in April for the eighth month in a row as a marked decline in new business led to production cuts and job cuts, a survey showed on Tuesday.
Markit's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about 10 percent of the economy, rose to 48.2 from 46.7 in March. Readings below 50 denote contractions in activity.
ND will not support new bailout pact, spokesman says
Greece's largest opposition party, the conservative New Democracy, said on Tuesday it would not support the deal cut by Athens and its lenders when it comes to Parliament.
"We will not vote in the new austerity measures that cut pension and tax Greece more," spokesman Vassilis Kikilias told Reuters.