Tag Archives: 2016

The number of foreign nationals granted citizenship in Greece recorded an increase of 138 percent in 2016 compared with the previous year, a Eurostat report said on  Monday. A total of 33,210 individuals received Greek citizenship, of which 86 percent were Albanian nationals, 1.5 percent Ukrainians and 1.2 percent Russians. …

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Greece’s unemployment rate fell to 21.2 pct in the fourth quarter of 2017 from 23.6 pct in the same period in 2016, but grew from 20.2 pct in the third quarter of 2017, Hellenic Statistical Authority (ELSTAT) said on Thursday. The statistics service, in a quarterly report, said that the …

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Greece experienced the largest tax increase among 35 members of the member states of  the Organization for Economic Co-operation and Development (OECD) last year. According to new figures released by the OECD, taxes in Greece went up to 38.5 percent in 2016, reaching a 30-year high. Tax revenues in Greece, …

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Greek households and non-profit entities that serve households lost 2.7 billion euros in disposable income (or 2.3 percent) in 2016, Greece’s independent statistics authority (EL.STAT) said on Monday. According to figures released this week, the sum for Greek households’ disposable income reached 114 billion euros last year, down from 116.7 …

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High unemployment in austerity-stricken Greece dumps salaries and wages. Employers want to spend as less as possible on salaries, employees are forced to compromises unthinkable before the crisis. A job at any price. Not matter how low the price. Greece’s private sector employers shamelessly ignore labor laws and offer a …

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Official data on Greek imports for 2016 have once again shone a spotlight on Greece’s production deficit. Although a maritime country Greece spent €434 million on fish import. Although it had and still has a flourishing cotton cultivation, if spent €659.8 million to import cotton. What’s the problem with Greece? …

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For one more time, the International Monetary Fund admitted it made wrong projections about Greece’s economy. This time it was IMF’s director of the European Department Poul Thomsen. Speaking at a press conference in Washington on Friday, Thomsen said the Fund’s projections for 2015 and 2016 were wrong because the …

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Greece improved its public finances last year, achieving a general government primary surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country’s statistics agency ELSTAT said on Friday. “The surplus of General Government for 2016, in accordance with ESA 2010, …

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Two out of ten Greeks paid 80% of the total income taxes last year. At the same time poverty increases: more than 340,000 households declared zero income for the tax year 2015. Data released on Thursday by the Independent Authority for Public Revenue (AADE) shows the stifling tax burden and …

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Real unemployment in Greece is at 30% and the salary gap between the private and the public sector is growing. These are some of the findings of the annual report 2016 conducted bu the Labor Institute of the Confederation of Greek Private Sector Unions (INE-GSEE) about the state of laborers …

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Greece’s debt-ridden economy stagnated in 2016, the national statistics agency ELSTAT said in a first estimate on Wednesday, two days after quarterly data pointed to a small contraction. “GDP in volume terms recorded 0.0% annual rate of change in 2016,” ELSTAt said, adding that the figure was derived from non-seasonally …

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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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326.358 billion euros. Greece’s public debt reached 326.358 billion euros at the end of 2016 against €323.709 billion at the end of September in the same year. According to a statement issued by the Public Debt Management Agency on Monday, the cash available at 31. Dec 2016, amounted to 2,791 …

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The relocation scheme of the European Union has blatantly failed. From the target of 6,000 relocations per month, less than 13,000 people have been relocated form Greece to other EU-member countries within the whole year 2016. According to data released by the Relocation Unit of the Asylum Service, the total …

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Tsipras vs Schaeuble and in the middle the Debt Relief. They will hardly manage to agree. Speaking at the congress of SYRIZA, Greek Prime Minister Alexis Tsipras said on Thursday that the country would demand a debt relief deal from bailout lenders by Christmas. “We are not coming as beggars …

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I suppose, the majority of Greeks spent the 3-days break with their television set off. That’s why, they are still alive on Monday, January the 4th. Had they turned their TVs son, they would had for sure suffered brain strokes, heart collapses and breath halting due to the tsunami of …

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First time a Left-wing Government, long negotiations that ended in a third Loan Agreement, the Refugee Crisis and Taxes: these were the highlights for Greece in 2015. Prime Minister Alexis Tsipras described the year that was as “the year of struggle and solidarity, when Greeks raised their heads and claimed …

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The European Commission sees Greece’s economy returning to recession in 2015 and the following year, with growth only materialising in 2017, and urged the Greek government to comply fully with the terms of the third lending agreement in order to restore economic confidence. According to finance news MNI.com, in its …

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Greece’s Finance Ministry ‘sees’ the lifting of capital controls in the second half of 2016. Speaking to the Greek Parliament Budget Committee, deputy finance minister Giorgos Chouliarakis said that the capitals controls were expected to be lifted by the end of the second quarter of 2016 – which is in …

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