All News on Economics in Greece

Intl media react to news of IMF payment delay

International media, particularly financial news providers, were abuzz on Thursday at the news that Greece’s radical leftist government requested that it bundle its payments to the IMF this month.

The request came a day before Greece was scheduled to pay back 300 million euros to the IMF.

Unemployment at 25.6 percent in March

Unemployment in Greece stood at 25.6 percent in March, unchanged compared to the previous month, the Hellenic Statistical Authority (ELSTAT) announced on Thursday.

The unemployment figure for March was lower than the 26.9 percent figure recorded the same month last year.

Tsipras in Brussels on Wed. to plead case for his govt’s proposal to achieve deal

Greek PM Alexis Tsipras will head to Brussels on Wednesday with his government’s latest framework proposal to access sorely needed cash from its creditors, following a last-minute invitation by EU Commission president Jean-Claude Juncker.

Economic sentiment sinks to lowest level in 18 months

By Dimitra Manifava

The mood regarding the economy in Greece is at its gloomiest in the last 18 months as the uncertainty over the future grows and fears of the worst are far from banished, according to a survey on economic sentiment by the Foundation for Economic and Industrial Research (IOBE) published on Tuesday.

Greek exit would only be 'hiccup' in Europe rally, GAM CEO says

By Giles Broom

A Greek exit from the euro area would only bring a temporary halt to the rally in European equities and high-yielding credit, GAM Holding AG Chief Executive Officer Alexander Friedman said.

Greece cannot compromise any more, says labor minister

Greek Labor Minister Panos Skourletis said on Tuesday that Athens could not make more concessions in negotiations for a cash-for-reforms deal and its international lenders must assume their responsibilities.

"There is no room for more compromises. We are waiting for the other side to assume its responsibilities,» Skourletis told Greece's Skai TV.

Roubini sees 'pots of money' being found to help Greece meet IMF deadline

Economist Nouriel Roubini said he expects ?pots of money? to be found to allow Greece to meet its payment commitments to the International Monetary Fund.

Greece's future in balance as creditors reject aid extension

Greeces place in the euro currency bloc looked increasingly shaky on Saturday after eurozone nations rejected a monthlong extension to its bailout program and the prime minister called for a risky popular vote on the country's financial future.

IMF's Blanchard says Greek budget proposals not enough

Greece's budget proposals are not enough to ensure a surplus this year, the International Monetary Fund's chief economist was quoted as saying on Monday.

Greece was supposed to have a 3 percent budget surplus in 2015, but that looks unrealistic now, Olivier Blanchard told the French financial newspaper Les Echos in an interview.

Euro weakens on Greece as emerging stocks, Spanish bonds decline

By Emma O?Brien & Nick Gentle

The euro weakened after Greece told creditors to lower demands that are holding up bailout funds. Emerging-market stocks fell as speculation grew the U.S. was moving closer to raising interest rates, while Poland?s zloty slid to a two-month low and Spanish markets dropped.

‘Beautiful Mind’ John Nash, 86, dead in car accident

Game theory pioneer and Nobel Prize laureate John Nash, 86, whose life, works and painful struggle with schizophrenia formed the basis of the Academy Award-winning movie “A Beautiful Mind”, died on Saturday in a car accident in New Jersey.
Nash perished along with his wife Alicia, in a crash on the New Jersey Turnpike.