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Tsipras opts for modest changes to cabinet rather than renewal
PoliticsGreek PoliticsPrime Minister Alexis Tsipras announced a cabinet reshuffle on Wednesday evening that was limited in scope and with few notable changes, suggesting that his main priority was to keep his government on an even keel. The premier was forced into making the...
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Trade deficit up by 30.9 pct in June as imports grow faster than exports
EconomyMacroeconomyGreece’s trade deficit jumped by 30.9 percent year-on-year (YoY) in June, reversing the decline of 15.8 percent noted in May according to data from the Hellenic Statistical Authority (ELSTAT) released on Tuesday. The deficit stood at 1.97 billion euros ...
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SYRIZA keeps up calls for cooperation but with focus on voters rather than parties
PoliticsGreek PoliticsSYRIZA is continuing its calls for cooperation with other parties, despite such invitations falling on deaf ears so far, as the battle for undecided moderate voters intensifies in the build-up towards the next general elections. Prime Minister Alexis Ts...
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Athens warned about missing fiscal targets rather than changing them unilaterally
EconomyProgrammeThursday’s Eurogroup resulted in a warning from European Stability Mechanism managing director Klaus Regling that Greece may miss its primary surplus target this year as a result of the so-called positive measures adopted. Regling, however, stopped shor...
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Despite recent improvement, more than half of Greeks unable to afford one-week holiday
SocietyData from Eurostat has shown that over half of Greeks could not afford to go on a week’s holiday away from home in 2018. According to the dataset, 51 percent of Greeks reported that they were unable to afford a week away from home, the third highest per...
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Industrial turnover soars by 39.4 pct in Nov, index up by more than 42 pct since Feb 2021
EconomyMacroeconomyGreece’s industrial turnover remains on a solid recovery path, jumping by 39.4 percent year-on-year (YoY) in November, from 40.6 percent in October, according to data from the Hellenic Statistical Authority (ELSTAT) released on Thursday. The index went ...
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BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
EconomyIn the governor’s annual report released on Thursday, the Bank of Greece (BoG) assesses the impact of the Ukraine conflict on Greek macro data, with the baseline scenario of growth now lower by one percentage point and inflation notably higher. BoG pres...
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Building permits turn negative for first time in more than a year, falling by 10 pct in April
EconomyMacroeconomyThe growth in building permits stopped in April, dropping by 10 percent year-on-year (YoY), after it had slowed down in March, rising by 2.8 percent, according to the latest data released by the Hellenic Statistical Agency (ELSAT) on Thursday. This is t...
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EC cuts 2023 growth forecast by more than half to 1 pct
EconomyMacroeconomyIn the European Commission’s autumn economic forecasts just released, Brussels confirmed a solid year of growth for Greece in 2022 and a significant downward revision of next year’s estimate. Greece is expected to grow by 6 pct in 2022 in real terms, up...
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Athens looks for improving mood rather than tangible outcome from Erdogan visit
PoliticsForeign PolicyAthens sees the High-Level Cooperation Council between Greece and Turkey, due to take place this Thursday, as yet another opportunity for both sides to retain the positive mood in bilateral relations, which has existed for roughly the last 10 months. Ho...
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