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Greece braces for recession, hopes to bounce back from summer onwards
EconomyThe extent of the damage that could be inflicted on the Greek economy as a result of the coronavirus impact is becoming clearer by the day, with the Finance Ministry and leading investment houses now expecting Greece to slip into a recession again this ...
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Greece heads back to markets with 7-year bond in bid to boost own funds
EconomyGreece wants to signal to international markets that despite the heavy toll the pandemic is expected to inflict on the Greek economy, it can move ahead with its debt strategy. The International Monetary Fund published its latest global forecasts on Tues...
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Refugee housing deadline puts spotlight back on migration policy
PoliticsGreek PoliticsAs the headlines in Greece continue to be dominated by the government’s response to the pandemic and its economic implications, New Democracy’s handling of other issues is starting to come under fire once again. Migration policy, which had been a bone o...
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Reshuffle back on the cards as PM unveils plans for Greek industry
PoliticsGreek PoliticsThe government appears to be moving towards a limited reshuffle, as the lifting of the lockdown nears its completion. The prime minister has also unveiled his vision for a national industrial strategy at the annual gathering of Greek businesses leaders....
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Authorities turn focus back to Covid-19 compliance as latest numbers trigger concern
PoliticsGreek PoliticsThe authorities are stepping up their efforts to encourage Greeks to take greater care not to spread the coronavirus after a significant rise in confirmed cases over the last few days. Over the weekend, a total of 185 new cases were registered. Of these...
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Moody's upgrades Greece to 'Ba3' on back of reforms, warns of tricky period ahead
EconomyIn an unexpected move on Friday night, Moody’s upgraded Greece’s credit rating by one notch to ‘Ba3’ from ‘B1’, while it kept the outlook stable. Moody’s, which has its own rating scale, had not taken any upgrade action since March 2019 and was trailing...
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Govt forced to back down over Easter travel, turns focus to May re-opening
PoliticsGreek PoliticsThe government has abandoned tentative plans to allow Greeks to travel to their ancestral villages for the upcoming Orthodox Easter, but hopes that this will allow schools and businesses to re-open next month. Government spokeswoman Aristotelia Peloni a...
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Current account shows deficit of 1.34 bln in June as tourism begins to come back
EconomyMacroeconomyGreece posted a current account (C/A) deficit of 1.34 billion euros in June compared to 1.4 billion euros in May, Bank of Greece (BoG) data showed on Friday. In June 2020, the balance showed a deficit of 1.43 billion euros, meaning that the month’s impr...
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Trade balance worsens as Aug produces 43.3 pct deficit on back of pick-up in non-EU activity
EconomyMacroeconomyGreece’s trade deficit increased by 43.3 percent year-on-year (YoY) in August, following a 28.9 percent increase in July according to data from the Hellenic Statistical Authority (ELSTAT) released on Friday. The deficit came to 2.2 billion euros for the...
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Growth in car sales back up to 6.2 pct in Sept
EconomyMacroeconomyRoad motor vehicles going into circulation for the first time rose by 6.2 percent year-on-year in September, following an increase of 2.7 percent in August, according to Hellenic Statistical Authority (ELSTAT) data released on Monday. In August 2020, th...
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