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Summer sales kick off in Greece on July 8

Summer sales in Greece kicked off on Monday, July 8 and will last until August 31, 2024. Under the current law, stores can open voluntarily on July 14, the first Sunday of the sales period, on a schedule of 11:00 to 20:00. According to assessments, this summer’s sales target is …

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New measures against high prices tabled at Parliament

Measures designed to control high prices are to be extended until the end of 2024 by an amendment submitted to Parliament on Monday by Development Minister Takis Theodorikakos.  Fines for violating laws on the gross profit margin cap will quintuple and fines for violating a ban on promotions will triple. …

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Greece’s FinMin threatens banks over fees and commissions

The Greek government has threatened banks with state intervention unless they reduce the fees they charge to clients for various banking activities. Speaking on Tuesday at the annual general assembly of the Hellenic Banks Association, Minister of National Economy and Finance Kostis Hatzidakis pointed out that the non-settlement of the …

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Greece must reform to protect tourism, ombudsman says

Greece needs to reduce rampant construction and protect water resources and coastal areas if it wants to maintain a healthy tourism industry across its mountainous mainland and beach-lined islands, the country’s ombudsman said in a report on Thursday. Some 33 million people visited Greece in 2023, 5 million more than …

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Greece plans early repayment of €8bn of bailout loans

Greece plans an early repayment of 8 billion euros of bailout loans to eurozone countries this year as the country’s economy rebounds from the previous decade’s debt crisis, two officials told Reuters on Wednesday. Greece regained its investment grade late last year after languishing for 13 years in the “junk” …

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Unemployment rises to 12.1% in Q1 2024

Unemployment rate in Greece for the first quarter of 2024 stood at 12.1% compared to 10.5% in the previous quarter and 11.8% in the corresponding quarter of the previous year. The number of unemployed persons amounted to 574,130, recording an increase by 17.5% compared to the previous quarter and an …

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Greece meets all requirements to serve as telecoms data hub between three continents, says Minister

“Greece has everything it needs to function as a very important telecoms data hub linking three continents, creating new investment opportunities for businesses and more jobs in the technology and IT sectors,” Digital Governance Minister Dimitris Papastergiou said on Thursday. The minister made the statements during a visit to the …

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Passengers traffic in Athens International Airport up 18.5% in May

Athens International Airport recorded an increase of 18.5% in passengers traffic in in May 2024 compared to the same month last year. Traffic in the Athens International Airport reached 3.01 million passengers in May 2024, up 18.5% compared to May 2023. Both domestic and international passenger traffic exceeded last year’s …

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Greece’s self-employed file against ‘presumptive income’ tax law

A legal suit filed with the Council of State on June 17 intends to contest a 2023 tax law establishing a minimum presumptive income for the self-employed, the Coordinating Committee of Freelancers, Professionals, Craftsmen and Merchants announced during a press conference on Monday. It has proposed that all its members …

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Greece’s PM hints at cap on rental days for Airbnb

Greece’s Prime Minister Kyriakos Mitsotakis indicated potential measures to tighten regulations on Airbnb and other short-term rentals, including considering a cap on rental days. “We have already enforced restrictions and requirements for those using Airbnb for commercial purposes. Additionally, we will discuss the appropriate duration for short-term rental of properties,” …

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