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Greece not only has some of the highest taxes in Europe, it also has major problems in terms of tax collection. The VAT deficit due to tax evasion was estimated at 34% in early 2017. [229] Tax debts in Greece are now equal to 90% of annual tax revenue, which is the worst number in all industrialized nations.
The economy of Greece is the 52nd ... as scapegoats for economic problems by far-right extremists. ... of Greece to the European Community (now the ...
The Third austerity package came as a result of First Economic Adjustment Programme for Greece known as memorandum that was announced by Greek prime minister on 23 April 2010 and was signed on 2 May 2010. [35] Changes aimed at saving €38 billion through 2012, representing the biggest government overhaul in a generation. [38]
Today, KEPE is a leading economics research institute in Greece. It focuses on applied research projects concerning the Greek economy, and provides expert advice to the Greek government on economic and social policy issues. [1] [3] In April 2019, the Greek government formally appointed KEPE as the National Productivity Board for Greece. [4]
Last year, a whopping 33 million tourists visited Greece—over thrice the country’s population. More tourism means a greater economic boost by propping up local business activities.
The Greek government-debt crisis began in 2009 and, as of November 2017, was still ongoing. During this period, many changes had occurred in Greece. The income of many Greeks has declined, levels of unemployment have increased, elections and resignations of politicians have altered the country's political landscape radically, the Greek parliament has passed many austerity bills, and protests ...
On 23 April 2010, after realising the second austerity package failed to improve the country's economic position, the government requested that the EU/IMF bailout package be activated. [6] Greece needed money before 19 May, or it would face a debt rollover of $11.3bn. [7] [8] [9] The IMF had said it was "prepared to move expeditiously on this ...
The return of economic growth, along with the now existing underlying structural budget surplus of the general government, build the basis for the debt-to-GDP ratio to start a significant decline in the coming years ahead, [111] which will help ensure that Greece will be labelled "debt sustainable" and fully regain complete access to private ...