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  1. Greek GDP shrinks 3 pct in Q3, on course to contract by 4 pct in 2013
    Photo by Harry van Versendaal

    EconomyMacroeconomy

    in the first nine months of the year. Greece has experienced negative growth since the third quarter of 2008 but the contraction has been slowing for the last year. This year's Q3 was the fourth... period on mid single-digit rise in exports and drop in imports. Similarly to the way GDP has evolved

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  2. Greece could still leave euro, says Simitis, PM who engineered entry
    Photo by Harry van Versendaal

    PoliticsGreek Politics

    and will not be limited to 124 percent of GDP by 2020,” writes the former PASOK leader. Simitis notes that Greece has... of this package has contributed to the collapse of the Greek economy, which has shrunk by almost a quarter... are trying to get across. Recently, Simitis has backed a new centre left movement that seeks

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  3. PASOK unites forces with Greek "Olive Tree" for EP elections but will it be enough?

    PoliticsGreek Politics

    A fledgling centre left movement made up of personalities from several walks of life has decided... democrats. Already, though, it has encountered a serious problem as DIMAR has refused to join... Minister Tassos Giannitsis has been touted as the most likely candidate. This, however, highlights one

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  4. On Portugal, PSI and a national salvation pact

    Agora

    a primary budget surplus of 4.3% of GDP. Portugal has had a negative primary budget balance for over... and complete market access has been restored, including an issuance calendar, high issuance volume.... The ECB has been incredibly accommodative already with Portugal, whether one looks at Portugal’s Target2

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  5. Building activity up by 36.2 pct in Nov as rebound continues

    EconomyMacroeconomy

    percent since its peak in August 2010. The rate of contraction in housing loans has been hovering.... At the same time, the housing non-performing loan ratio has more than tripled to 24 percent at the end of June.... A positive sentiment for the wider construction sector has recently emerged from the revamping

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  6. Unemployment at new high of 28 pct in Nov, jobless up by 169 pct in four years

    EconomyMacroeconomy

    . The number of employed has posted a 20.6 percent drop compared to November 2009, when the crisis... the previous month figure. Over the past four years the number of unemployed has surged 169 percent... after recording a temporary decline in August. Greece currently has 3.55 million employed people

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  7. Cooperatives on Cyprus: Why they were treated differently to banks
    Photo by Myrto Papadopoulos [www.myrtopapadopoulos.com]

    Agora

    in the USA has lessons for Cyprus and parallels to what happened on the island. One of the issues... to the need for a Fannie or a Freddie. The cooperative credit sector of Cyprus has several... unions. It has been reported out of the staggering 26.25 billion euros in non-performing loans in Cyprus

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  8. Greek jobless rate dips to 27.5 pct in Dec but inactive population growing

    Economy

    in November. The number of employed has recorded a 20.3 percent drop compared to December 2009. At the same... has surged 159 percent. Labour force participation persistently remained below the 5-million mark... for males. For all age groups the unemployment rate has roughly tripled for each bracket compared

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  9. Divisions on center left blight launch of Greek Olive Tree alliance
    Photo by Myrto Papadopoulos [www.myrtopapadopoulos.com]

    PoliticsGreek Politics

    story of conflict between Papandreou and Venizelos, which has also led to tension between PASOK MPs... guard has anything to offer was highlighted by a recent Alco poll for the Newsit website. It showed PASOK lagging behind To Potami, a new party formed by journalist Stavros Theodorakis, which has yet

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  10. Building activity nosedived for the fourth straight year, down 27.6 pct in 2013
    Photo by Harry van Versendaal

    EconomyMacroeconomy

    since the peak in August 2010. The rate of contraction in housing loans has been between 3.1 - 3.7..., the housing non-performing loans ratio has jumped to 25.8 percent at the end of September 2013 more than 3.5... recommencing soon. The work on these motorways with a combined value of 7.6 billion euros has been

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