Eurozone crisis

The Eurozone economy was in a technical recession in the first three months of 2023, according to data published earlier today by the European statistical office Eurostat, BTA reported.

The Budget Committee of the Parliament adopted a decision to extend the current Law on the State Budget. The decision is to be voted on in the plenary hall. It is expected that there will be a second reading of the project so that the deputies can submit their proposals.

A man with his dog casts his vote at a polling station in Athens. Greeks were voting Sunday in the first election since their country's economy ceased to be subject to strict supervision and control by international lenders who had provided bailout funds during its nearly decade-long financial crisis. [AP]

The Turkish private sector's total outstanding loans received from abroad stood at $158 billion as of March, decreasing by $1.2 billion from the end of 2022.

Greece's 2023 Stability Program highlights the strong improvement in public finances and outlines a substantial further reduction in debt, Fitch Ratings said in a report, adding that even if some of the program's projections proved to be optimistic, they reinforce our view that the debt ratio will continue to fall over the medium term.

The fact that consumption in Greece is robust, despite stable salaries and high prices, means that Greeks are using their savings, notes Organization for Economic Cooperation and Development (OECD) Senior Economist Tim Bulman.

Delphi Economic Forum and the Kyklos Ideon think tank, with the support of Patakis Publishers, are organizing an event titled "Greek Crisis: Lessons for the Future," on the occasion of the forthcoming publication of Charles H.

Greece has not yet obtained investment grade because, obviously, the elections are coming up, the director of the economic office of the prime minister, Alex Patelis, said at the Delphi Economic Forum this week.

It wasn't too long ago that Greece seemed to be going from crisis to crisis, with Grexit being thrown around as a real possibility. Today, we're seeing Greece described as a European success story.

The International Monetary Fund (IMF) on Tuesday revised upwards its forecast for the Greek economy this year to 2.6% from its autumn forecast of 1.8% in October 2022, and said the Greek economy was expected to grow by 1.5% in 2024 from 1.4%.