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Tag Archives: economic crisis

Greece’s economy shrank 1.2% in the Q4 2016

Greece’ economy shrank by 1.2 per cent in the fourth quarter of 2016.This is three times worse than a first estimate of 0.4%. It was the worst quarter since 2015. OUCH. Greek GDP shrank 1.2 per cent in fourth quarter – three times worse than a first estimate of 0.4% …

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Regling: Greece may need less than originally planned ESM funds

As the government in Athens used only €32 billion from the €86 billion prepared by the European Stability Mechanism, with less than half the program until the end it is clear the final figure will be smaller than the maximum, said Klaus Regling, the facility’s managing director. German daily Bild quoted him …

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IMF’s wrong forecasts increased Greece’s funding needs

The International Monetary Fund (IMF) has made serious mistakes in the first memorandum, noted the chairman of Attica Bank and Greece’s former representative to IMF Panagiotis Roumeliotis speaking to Athens Macedonian News Agency. “The wrong forecasts increased Greece’s funding needs” he said while referring to the second review he estimated …

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Schaeuble: “I have never made Grexit threats”

German Finance Minister Wolfgang Schaeuble denied on Sunday that he had said Greece would have to leave the eurozone if it failed to implement economic reforms. In an ARD television interview, Schaeuble that Greece would not have problems if it implemented agreed reforms, but would if it fails to carry …

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Greek actor threatens to commit suicide if his pension undergo further cuts

Greek Actor Dinos Karydis warned that he would committee suicide, should his pension undergo further cuts. On his social media accounts on Facebook and Twitter, Karydis uploaded a macabre picture of himself lying on a bed and looking like sleeping or unconscious. He wrote: “If my pension undergoes further gut …

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Greece in times of austerity: Police cars on verge of dissolution (picts)

Economic crisis and austerity has reached unprecedented levels in the equipment of public services, including the patrol cars of the Greek police. The union of police officers in Thessaloniki uploaded two pictures from a patrol car. A wooden plank has been placed behind the driver’s seat to keep it upright. …

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Financially broke and homeless, a man kills himself in Athens Home for Elderly

A 73-year-old man shot and killed himself in the Athens Nursing Home for Elderly in the night of Wednesday to Thursday. The man was financially broke due to the economic crisis and homeless. He was allowed to live in the Nursing home after a decision of the board of directors. …

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