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Six years for Greek economy to return to pre-crisis levels – PM

Striking teachers protest against job cuts in central Athens on Monday, Sept. 16, 2013. AP

The Greek economy is “back on track” but is likely to need another six years to return to pre-crisis levels, Prime Minister Antonis Samaras said Monday.

Posted: September 17th, 2013 in Latest Business Stories | Read More »

Eurozone recession end is cold comfort for Greece

An elderly man carries shopping bags at Athens' central fruit and vegetable market, on Tuesday, Aug. 13, 2013. Greece is beating its budget targets by a wide margin so far this year, a sign the country's painful cost cuts and tax increases, combined with international bailout funds, are paying off. AP

Europe’s recession is over, thanks to second-quarter growth in big countries Germany and France and an improvement in some of the smaller ones that have been hit hard by the financial crisis. But the pain is not over as many still have mountains of public debt to pay off and record unemployment. It’s also uncertain how long a recovery can be sustained.

Posted: August 14th, 2013 in Latest Business Stories | Read More »

Greece offers residence to foreign investors

A woman walks down steps to go for a swim at the Faliron coastal zone near Athens on April 18, 2013. Greece will be offering residence to non-EU investors purchasing or renting property over 250,000 euros ($326,000), in a bid to revive its moribund real estate industry, officials said on Monday, April 22, 2013.
The tourism ministry also announced plans to increase the flow of so-called senior tourists, in response to an aging worldwide population.  AP PHOTO/PETROS GIANNAKOURIS

Greece will be offering residence to non-EU investors purchasing or renting property over 250,000 euros ($326,000), in a bid to revive its moribund real estate industry, officials said on Monday.

Posted: April 23rd, 2013 in Latest Business Stories | Read More »

Recession-hit Greece faces fertility crisis

Pedestrians walk by a homeless man in Thessaloniki, Greece, Sunday, April 21. 2013. Sunk in recession for the past six years and struggling to steer its economy through painful austerity cuts, Greece now faces a fertility crisis as well.  AP PHOTO/NIKOLAS GIAKOUMIDIS

In a nursery of a private maternity hospital in Athens, three mothers feed their newborns while another three babies nap nearby.

Posted: April 22nd, 2013 in Latest Business Stories | Read More »

Greek unemployment hits 26% in 4th quarter

A university student chants slogans as he holds a banner which read ''education must be state-run and free'' outside the Greek ministry of Education during a rally against a planned shakeup of Greece's university system, in Athens, Thursday, March 14, 2013. Greek unemployment climbed to 26 percent of the workforce in the fourth quarter of 2012 compared with 20.7 percent in the corresponding period a year earlier, the state statistics agency said on Thursday.  AP PHOTO/THANASSIS STAVRAKIS

Greek unemployment climbed to 26 percent of the workforce in the fourth quarter of 2012 compared with 20.7 percent in the corresponding period a year earlier, the state statistics agency said on Thursday.

Posted: March 15th, 2013 in Latest Business Stories | Read More »

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