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With unemployment at more than 14 percent, Greeks welcome the news but wonder if they will … The Greek foreign ministry said the latest mission was a "new serious escalation" which "exposed" Turkey's "destabilising role". © 2020 Guardian News & Media Limited or its affiliated companies. Surely being able to refinance its debt at such low interest rates is evidence of recovery?Paradox is a Greek word for good reason: today’s Greece proves that it is perfectly possible for the state and for the majority of citizens to be sinking deeper into insolvency while the oligarchy makes a mint from trading in their assets. But, from 2018, three social groups fared differently. All rights reserved. Greece economy: Europe's biggest urban renewal project launched. Greece braces for rise in refugees as relations with Turkey worsen Published: 20 Jul 2020 Sun, sea, safety: Greece woos Europe's pensioners with 7% income tax rate What’s more, Greece’s government has been borrowing for 10 years at less than 1% interest rates. Greece Economic News. But why would investors lend to the Greek government cheaply if it remains bankrupt?The reason is that the troika of Greece’s creditors – the EU, European Central Bank and the IMF – have taken 85% of government debt out of the money markets and placed it squarely on the shoulders of Europe’s taxpayers. The number of unemployed workers rose by 52,717 in April compared to March while the seasonally-adjusted unemployment rate climbed to 15.5% from the previous month’s revised 14.5% (previously reported: 14.4%), according to data released by the Hellenic Statistical Authority (ELSTAT). Love Island's Molly-Mae Hague wears crochet bikini in Greece Mail Online 20:56.

Shoukry made the announcement at a joint press conference with his Greek counterpart Nikos Dendias in Cairo. They will retort that investors who bought Greek debt or shares a few years ago have banked returns that no other market has provided. The Nazi When, sooner or later, the narrative of economic recovery is exposed as a cruel lie, this government will exploit the little people’s concerns over migration to keep those like Costas placid while, for good measure, deploying the authoritarian apparatus currently under construction to liquidate their few remaining assets.Most recently, television screens relayed a scene that reveals the continuing capacity of the Greek crisis to symbolise Europe’s conundrum: a visit to the Greek-Turkish border by a Greek prime minister who, like his predecessors, had previously surrendered fully to Chancellor Angela Merkel accompanied by What were they doing? By far the largest group, to which Costa belongs, continue to languish in debtor’s prison and to sink deeper in hopelessness. Inside Molly-Mae Hague's luxury Greek getaway with Maura Higgins Mirror.co.uk 20:44. Choose date and time: × In the last 2 hours. Finally, a small group is doing incredibly well: buoyed up by fire sales of public assets, connected to the hedge funds profiting from trades in loans like Costas’s, and linked to EU-sourced funding.This fragile coalition of neoliberals and racist conservatives is kept together by a combination of free-marketeer “solutions” favouring the oligarchy (for instance, the sale of Costas’s loan and the privatisation of public assets), a domestic authoritarian drive (armed police entering universities to confront protesting students), and a Trumpian approach to migrants. Click on the button below to get started. Rating agency Moody's announced on Friday it has upgraded Greece's sovereign credit rating by two notches from "B3" to "B1" with a stable outlook. The fact that Costas will lose both his home and his bookshop, with detrimental effects on the state’s taxes and outlays (as he begins to draw unemployment benefit), does not even appear on the radar of the hedge fund or the international media.During the first phase of Greece’s crisis, all social classes, with the exception of the top 0.1%, found themselves in dire straits. Here’s why Greece’s economic ‘recovery’ has been good news for no one but the rich This article is more than 5 months old.

In essence, they were sealing the demise of Merkel’s project of keeping the xenophobic hard right at bay. Yanis Varoufakis.

Egypt and Greece signed an agreement on Thursday designating an exclusive economic zone in the eastern Mediterranean between the two countries, an area containing promising oil and gas reserves, Egyptian Foreign Minister Sameh Shoukry said. So why not lend to the Greek government at a small, yet positive, interest rate when the alternative is to lend to the German or the Dutch governments at the current negative interest rates? Here’s why Greece’s economic ‘recovery’ has been good news for no one but the rich This article is more than 5 months old. Patients on island camps face long wait for specialist help and mental health services, while in Athens others are left destitute They also deferred all repayments until after 2032 and extended another €30bn (£26bn) of official loans to the Greek government to cover its repayments to privateers. 5 years of Greece economic forecasts for more than 30 economic indicators.Get a sample report showing our regional, country and commodities data and analysis.

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