Economy of Greece

The chief financial officers of companies operating in Greece are quite pessimistic about the course of the Greek economy and market according to a European survey of CFOs conducted by Deloitte in the first quarter of the year.

The US Congressional Monetary Policy and Trade Subcommittee held a hearing on Thursday to evaluate lessons from the International Monetary Fund’s (IMF) bailout of Greece in 2010 and 2012.

Athens-listed gaming systems provider and sports betting firm Intralot may consider listing on another international stock market as business in its domestic Greek market shrinks, the chairman said on Thursday.

Intralot's Greek operations were hit when it lost a contract with Greece's biggest betting firm OPAP that had been a valuable source of revenue for two decades.

Air Traffic Controllers and Telecommunications Employees of the civil service aviation will take part in the nationwide strike in Greece declared by the country’s two largest unions, GSEE and ADEDY for Wednesday, May 17. As a result flights of Olympic Air and Aegean will be either canceled or rescheduled on the day. Following are the changes in the routes.

The average growth rate in Eurozone countries stood at 1.7% in the first quarter of 2017, according to Eurostat’s initial estimates, while it was calculated at 2% for the EU28 area. This is in contract to the Greek economy, which was the only country that registered a drop in growth for the sam3e period.

The utilization of state properties is supposed to fetch revenues of 2.15 billion euros this year and 2.07 billion euros next year according to the midterm fiscal plan being debated in Parliament. After that, revenues are slashed drastically to about 100 million euros per annum.

Greek economy has paid a heavy price for the delay in the completion of the second review of the country's third bailout and this is reflected in the official data for first-quarter gross domestic product, which contracted 0.5 percent year-on-year according to the Hellenic Statistical Authority (ELSTAT).

The Greek economy has contracted by half a percentage point (0.5%) in the first quarter of 2017, according to the official data released by Greek Statistical Services (ELSTAT). Prolonged uncertainty regarding the outcome of the second review of the Greek bailout program meant the economy continued its downward trend in the new year, falling by 0.1% compared to the last quarter of 2016.

Greece's economy contracted in the first three months of the year but less than in the final quarter of 2016, flash estimates by its statistics service showed on Monday, as jitters over the conclusion of a bailout review hurt business confidence.

Three people died and 10 more were injured when a train derailed in northern Greece on Saturday night and ripped through a house, police said.

The train carrying 70 passengers and five crew was heading from Athens to the second-biggest city of Thessaloniki when it derailed in the town of Adendro, 37 km (23 miles) from Thessaloniki, railway company Trainose said.