Nicholas Magginas

Tourist Arrivals to Greece Drop 5.5% in 2012 Amid Debt Crisis

The number of international visits to Greece fell 5.5 percent last year, as political turmoil during elections in June and the economic crisis in Europe affected the country’s tourism industry.

Greece’s Unemployment Rate Increased to Record High in January

Greece’s unemployment rate increased to a record in January as the country’s economic downturn entered a sixth year.

Greek December Jobless Drops for First Time Since 2008

Greece’s seasonally adjusted unemployment rate fell for the first time in almost five years in December, indicating a possible stabilization may be near after it increased more than threefold in that time.

Greek GDP Shrank 6% in Fourth Quarter Amid Jobless Crisis

Greece’s economy contracted for an 18th straight quarter and the unemployment rate rose to a record, leaving more than six in 10 young Greeks out of work.

Greek Inflation Slows for Second Straight Month

Greece’s inflation rate fell for a second month in November even as it remained the highest in the euro region amid tax increases aimed at cutting the budget gap.

Greek Recession Making Bailout Targets Harder to Meet: Economy

Greece’s economy contracted for a ninth straight quarter, making it harder for the government to meet the budget-reduction targets required under the country’s international bailouts.

Greece's 2011 Budget Seeks Deficit Cut, Return to Bond Markets

Greek Finance Minister George Papaconstantinou will reveal today how he plans to offset lagging revenue growth in his 2011 budget to trim the European Union’s second-biggest budget gap and allow the country to resume borrowing in bond markets.

Greek Unemployment Rate Increases as Recession Deepens

Greece’s jobless rate climbed to more than a quarter of the workforce in August, extending its record high as Prime Minister Antonis Samaras pushed through more austerity measures linked to the country’s bailouts.

Greek Economy Shrank Greater-Than-Forecast 6.8% Last Year on Spending Cuts

Greece’s economy, reeling from austerity measures demanded by creditors in exchange for rescue funds, contracted almost a percentage point more last year than the government forecast, according to Bloomberg calculations.

Bunds Climb on U.S. Easing Speculation; Greek Bonds Advance

German 10-year bonds rose for the first time in three days as stock losses and speculation the Federal Reserve and Bank of England may soon expand asset purchases boosted demand for government securities.

"We'll continue to have a deteriorating trend in the labor market, although the pace of deterioration is lower compared to the first half of the previous year."

- Nicholas Magginas on Apr 11, 2013

Greece

Athens

London

Germany

U.S. Stock Futures Advance Amid GDP, Jobless Claims Data

European Stocks Rise With S&P 500 Futures as Gold Gains

Asian Stocks Plunge as Japan’s Topix, Nikkei 225 Tumble

Alcoa Cut to Junk by Moody’s as Aluminum Price Declines

Oil Fields Under Olive Groves Offer Italy Economic Boost