The Greek patient returns for more help

by BEN CHU The Greek begging bowl is being brandished, once again, in European capitals. The leader of the country’s coalition government, Antonis Samaras, wants Athens to be given more time to fulfil the conditions of its IMF/EU bailout. Under the agreement’s present terms, Athens is required to reduce its budget deficit, which stood at 9.3 … Continue reading

Greece: income down 25% in 2011, says OECD

Central bank predicts further 20% fall in 2013-14 (ANSAmed) – ATHENS – Despite the severe austerity measures imposed by the government in Athens, in line with international creditors, in a bid to restore to health the country’s disastrous national accounts, the recession in Greece is being felt with increasing force. The Organisation for Economic Cooperation … Continue reading

Eurozone private sector drops, signalling recession: PMI

(BRUSSELS) – Eurozone private sector activity retreated in March, providing new evidence that the 17-nation single currency area is in recession, a key survey showed on Wednesday. The composite Purchasing Managers Index (PMI) compiled by Markit research firm hit a three-month low, dropping to 49.1 points in March compared to 49.3 in February. A score … Continue reading