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12th November 2018 Property Prices In Greece Continue To Rise
Greece residential property prices rose again in the third quarter of 2018 according to Greece central bank. Data suggests that falling unemployment and fear of unemployment together with foreign buyers is helping to boost house prices in Greece.
Greece house prices fell 42 percent at the worst of the price trough since the financial crisis in 2008
House prices continue to recover throughout much of 2018. Greeces economy has been recovering for the last year and a half.
8th November 2018 Greece Unemployment Falls In August
- Greek jobless rate falls to 18.9 percent in August from 19.1 percent in July.
Unemployment is still excruciatingly high but at least its going in the right direction. Unemployment in Greece is now at its lowest level since August 2011 according to Greeces statistics agency ELSTAT.
After more than 7 years Greeces economy is improving but the pain of the financial crisis will hit generations to come. On the positive side it creates opportunities for Greece to beat competing countries as labour costs in Greece are highly competitive.
Greece youth unemployment persons aged 15 to 24 fell to 36.8 percent
Greece unemployment at its highest was 27.9 percent in September 2013. Greece still has the highest unemployment rate in the Eurozone.
Unemployment rate in the 19 Eurozone countries was 8.1 percent in August according to Eurostat.
7th November 2018 Greek Tourism Income 2018 Forecast To Rise
Greek tourism revenues could rise by up to 2 billion euros in 2018 due to an increase in foreign visitor numbers according to Greek tourism minister.
Greece derives around 25 percent of its economic income from tourism
Greek tourism brought in about 14.6 billion euros in 2017 according to Greek central bank.
Greeces government is forecasting 2018 economic growth of 2.1 percent in 2018.
— Best Price (@guidetoprice) October 30, 2018
20th October 2018 Not Pension Cut For Greek Pensioners
The European Unions executive has approved Greeces budget without requiring the implementation of legislated pension cuts according to Greeces prime minister Alexis Tsipras.
4th September 2018 Greek Seamen Call Off Strike Affecting Greek Ferries
Greek seamen federation PNO and other sea related unions agree a 2 percent wage increase with employers.
— Risk Management (@HolisticRiskMgt) August 21, 2018
24th July 2018 At Least 50 Dead In Forest Fires in Attica Region Athens. State of emergency declared
Greeces worst fire crisis since 2007 has proved fatal to scores of people. Greece is calling the international community for help to fight the fires and recover as well as rescue affected people. Emergency workers are using boats and helicopters to evacuate a beach. People have also been trapped and died in their cars or homes.
A search and rescue operation is being conducted for 10 tourists who fled one of the fires in a boat
Hundreds of firefighters are battling the blazes and the authorities are seeking international assistance including an appeal for other European countries to provide helicopters and additional firefighters. Italy Germany and France have all sent planes vehicles and firefighters.
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22nd June 2018 Greece To Get Debt Relief
Eurozone creditors are to offer debt relief to Greece according to Greek Prime Minister Alexis Tsipras.
19th June 2018 Greece To Get Bailout Funds
The Germans think Greece will get up to 15 billion euro bailout in August 2018. A German government official is reported as saying that Greece will get more money after third bailout ends in August.
2nd June 2018 Greek Manufacturing Increases Creating More Jobs In Greece
Greek factory activity grew at faster rate in May. More people are being hired to fulfil manufacturing orders according to IHS Markits Purchasing Managers Index for manufacturing.
31st May 2018 Greece Capital Controls Alleviated
Greece has raised the amount of cash that can be withdrawn from banks accounts to 5000 euros from 2300 euros. By making it easier to get at your capital it increases the amount of money that could potentially be taken out of the country.
Leaking money from Greece can threaten the Greek economy. The alleviating of the capital controls in Greece suggests the Greek government is more confident in Greek economy.
30th May 2018 Greek Workers Strike
Workers in Greece went on strike to protest against years of austerity which is set to get worse. A one day nationwide strike was organised by the largest unions in Greece.
Greece has received 260 billion euros in loans to bail it out of its financial crisis. The loans were only provided based on financial changes in areas including public sector job cuts tax increases and pension cuts.
In 2019 and 2020 Greece will have to endure even more pension cuts and tax increases.
17th May 2018 Greece Extends Hellenic Petroleum Deadline To 30th May
If you want to buy Hellenic Petroleum you now have until the 30th May to get your bid in!
Paneuropean Oil and the greek government have agreed to divest more than 50 percent of Hellenic Petroleum which is europes third largest oil refiner.
30th March 2018 Greek Banks Show Signs Of Bad Debt Recovery
According to Greeces central bank Greeces banks are beating the targets set to recover from bad debts. They are reducing their exposure to non-performing loans.
Greeces biggest banks are not immune including Piraeus National Eurobank and Alpha.
29th March 2018 Greece Wants More Money For Forced Fire Sale
Greece has been forced to sell off its public assets. Greeces gas privatisation agency says it wants more money from two bidders for 66 percent stake in gas grid operator DESFA.
Greece was forced by other Eurozone member countries to sell public controlled assets as part of international bailout money to enable Greece to keep paying its bills.
A previous bidder backed out and now two bidding consortiums for the gas supplier are Italy’s Snam Spains Engas International Belgiums Fluxys and Spains Regasificadora del Noroeste Romania’s Transgaz plus European Bank for Reconstruction and Development.
Athens owns 31 percent and Hellenic Petroleum owns 35 percent making up the 66 percent for sale to highest bidder.
28th March 2018 Euro Zone Bailout Fund Approves New Loans For Greece
The Eurozone’s bailout fund approved the loan of nearly 7 billion euros to Greece as part of the current bailout programme. 5.7 billion euros will be paid into Greece’s account today the remainder on the 1st May 2018.
12th March 2018 Greece To Receive Additional Bailout Money
The euro zone bailout fund will pay out another 5.7 billion euro loan to Greece in March after Eurozone countries agree to proceed.
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