Monday October 20, 2014 Search
Weather | Athens
24o C
16o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek economy shrinks by 1.1 pct in first quarter

The Greek economy shrank by 1.1 percent in the first quarter of the year on a 12-month basis, Greece's statistics agency said on Thursday.

The data, unadjusted for seasonal factors showed that output by the bailed out economy decreased by 1.1 percent in comparison with the first quarter of 2013, the ELSTAT agency said.

Based on the data announced on Thursday, the economy in 2013 shrank by 3.86 percent according to AFP calculations.

This year, the economy is expected to switch into growth of 0.6 percent, showing the first expansion since 2008, according to the Finance Ministry.

The coalition government of Prime Minister Antonis Samaras is trying to persuade critics at home that four years of grueling austerity under the bailout program are now bearing fruit.

But the Greek central bank has warned that political stability is needed to protect the fragile recovery.

The government faces a tough local elections challenge over the next two weeks, with anti-austerity parties poised to gain heavily from widespread anger over the six-year recession and soaring unemployment gripping the country.

An opinion poll on voting intentions for European Parliament elections published Thursday showed leftist opposition SYRIZA ahead of conservative coalition leaders New Democracy by 3 percent.

The poll, which was conducted by VPRC for Epikaira magazine, showed SYRIZA of Alexis Tsipras taking the lead with 16.7 percent, followed by Prime Minister Antonis Samaras's conservative party which stood at 13.7 percent. [AFP, Kathimerini]

ekathimerini.com , Thursday May 15, 2014 (13:25)  
Fresh growth for banks buoys Athens benchmark higher
Greek 5-year yields rise 55 bps to 7.62 pct
Minerva Knitwear opens new store in Athens
German bunds rise on sata seen adding to gloom; Greek bonds gain
Health Ministry looking to hire 4,000 new staff
The Health Ministry wants to hire 4,000 permanent staff, including 1,500 state hospital doctors, next year. It made a written request to the Administrative Reform Ministry on Monday as appro...
Parliaments draft budget sees reduction of some 2 mln euros
Parliaments budget for next year has been reduced by almost 2 million euros to 139.9 million, according to a draft unveiled on Monday. Of the total amount, 20.5 million euros is for MPs pa...
Inside News
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
SOCCER
OFI stuns Panathinaikos, Mitroglou hits twice
OFI Crete produced the upset of the week in Greek soccer beating Panathinaikos in Athens for only the second time in its history on Sunday, while PAOK stayed on top beating Atromitos at home...
Inside Sports
COMMENTARY
Stop moaning and get in the game
There are so many people who love spending their days talking about the crisis and proclaiming that they know exactly what needs to be done to solve the countrys problems. Some of them obvi...
EDITORIAL
Exorcising the ghosts
Developments last week held in store an uncomfortably realistic understanding of the risks engulfing the country. The massive sell-off in Greeces stock and bond markets was a strong shock. ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Health Ministry looking to hire 4,000 new staff
2. Parliaments draft budget sees reduction of some 2 mln euros
3. Trial of GD members accused of 2012 attack postponed to April
4. Stavros Niarchos Foundation donates 26.8 million to social projects
5. Fresh growth for banks buoys Athens benchmark higher
6. Greek 5-year yields rise 55 bps to 7.62 pct
more news
Today
This Week
1. Greece must stick to reforms, says Schaeuble
2. Bakers encircle Thessaloniki's White Tower with giant 'koulouri'
3. Turkish vessel enters Cypriot Exclusive Economic Zone
4. European leaders pivot back to debt crisis after wake-up call
5. Hardouvelis does not see 'big surprises' in ECB stress tests
6. Samaras to visit Cyprus on November 7, ahead of Egypt talks
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Less haste, more focus
3. Greece to contribute 1 mln towards Gaza reconstruction
4. Greece nearing bailout exit, says gov't spokesperson after IMF talks
5. Istanbul skyscraper casts shadow over Greece's banking ambitions
6. Coalition shooting itself in the foot
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.