Sunday August 31, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek economy contracts by 6.2 pct in Q1

Greeces economy shrank in the first three months of 2012, the 13th contraction in the past 14 quarters as policy makers struggled to stay in the euro.

Gross domestic product dropped 6.2 percent from a year earlier in the first quarter after contracting 7.5 percent in the fourth quarter of 2011, the Athens-based Hellenic Statistical Authority said in an e-mailed statement on Tuesday. The figure is based on non-seasonally adjusted data. The agency didnt provide a seasonally adjusted figure.

The European Commission forecasts Greeces economy will contract 4.7 percent this year, its fifth year of a recession compounded by spending cuts and tax increases demanded as a condition for a rescue.

Greece has been in a political impasse since inconclusive May 6 elections left party leaders unable to form a government. The deadlock has raised the possibility of another vote to be held as early as next month, and also raised doubts that Greece can avoid an exit from the euro area. [Bloomberg]

ekathimerini.com , Tuesday May 15, 2012 (13:31)  
Disappearing inflation heightens Draghi concerns
Ministry launches work experience program for unemployed graduates
Tax burden in Greece among EUs heaviest, study reveals
Coalition bent on protecting weaker groups
Traveling on public transport in Athens gets cheaper
Commuters will pay 20 cents less for tickets allowing them to use all modes of public transportation in Athens as of Monday, though they will be valid for 70 minutes rather than 90 as was th...
Push made for cuts in education as merger scheme fails
Finance Ministry officials are pressing the Education Ministry to cut costs after it emerged that a program for merging university and technical college departments failed to save 68 million...
Inside News
SOCCER
Tough draw for Greek sides in Europe League Greek stage
Following Thursday nights high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
JUDO
Greek judoka Iliadis triples up as Aguiar stuns Tcheumeo
Greek star Ilias Iliadis claimed his third world title in the under-90kg category in Chelyabinsk on Friday as Brazilian Mayra Aguiar and Colombian Yuri Alvear won gold in the womens under-7...
Inside Sports
COMMENTARY
Keeping an eye on international developments
The Ukrainian crisis may herald the start of a second Cold War, while there is no shortage of analysts comparing the current international climate to that of 1914 in the runup to World War I...
EDITORIAL
A few good men
It gives us a great deal of hope that we have a new batch of mayors and regional authorities, as well as university rectors who represent the voice of reason and prudence and are unafraid to...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Traveling on public transport in Athens gets cheaper
2. Push made for cuts in education as merger scheme fails
3. Govt aims to curb measures, secure loans, allow tax relief
4. DIMAR chief Kouvelis hints about presidency
5. French expert says Crete crocodile in good health, aged 4-7
6. Tensions mar regional ity swearing-in ceremony
more news
Today
This Week
1. Keeping an eye on international developments
2. A few good men
3. Disappearing inflation heightens Draghi concerns
4. Two men drown off Crete coast in strong tides
5. Push made for cuts in education as merger scheme fails
6. Traveling on public transport in Athens gets cheaper
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. Purification rituals
3. The battle against progress
4. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
5. Strong undersea quake occurs off island of Milos, felt in Athens
6. Athens finalizes Paris talks goals
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.