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In the case of Greece, the high budget deficit (which, after several corrections, had been allowed to reach 10.2% and 15.1% of GDP in 2008 and 2009, respectively [33]) was coupled with a high public debt to GDP ratio (which, until then, was relatively stable for several years, at just above 100% of GDP, as calculated after all corrections). [31]
In the 2005 OECD report for Greece, [111] it was clearly stated that "the impact of new accounting rules on the fiscal figures for the years 1997 to 1999 ranged from 0.7 to 1 percentage point of GDP; this retroactive change of methodology was responsible for the revised deficit exceeding 3% in 1999, the year of [Greece's] EMU membership ...
According to this view, a capital flow bonanza of private funds took place during the boom years preceding this crisis into countries of Southern Europe or of the periphery of the Eurozone, including Spain, Ireland and Greece; this massive flow financed huge excesses of spending over income, i.e. bubbles, in the private sector, the public ...
During the winter months, the tax will rise to 2 euros from 0.5 euros currently. "We aim to collect 400 million euros annually, almost double the amount we got last year," a senior finance ...
23 August – The Hellenic Coast Guard opens fire on a boat carrying migrants after it tries to ram their vessel near Symi, killing one person. [ 23 ] 29 August – More than 100 metric tons of dead fish are recovered from the port of Volos following a fish kill believed to have been caused by climate-related complications in Lake Karla . [ 24 ]
Japan is poised for a standout year, with the Osaka Expo 2025 spotlighting the country. Beyond iconic cities like Tokyo and Kyoto, destinations like Hokkaido and Okinawa are gaining attention.
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