Cyprus’ Deputy Tourism Minister Savvas Perdios was optimistic on Tuesday that this year’s tourism arrivals could catch up with 2021, despite losing ground in the Russian and Ukrainian markets due to the war in Ukraine and sanctions against Russia.
Piraeus Bank swung to a net profit in the fourth quarter of 2021 from a loss in the previous three months, it said on Tuesday, citing a drop in provisions against bad loans and increased fee and commission income.
The combination of economic stagnation and high inflation, or stagflation, may prove to be more than a specter hovering over the world. and especially Europe.
The war in Ukraine has brought ghosts of the 20th century hovering over Europe: the leveling of cities by Russia, millions of Ukrainian refugees, the mass exodus of Russian dissidents to neighboring countries, the armaments race, and the risk of nuclear conflagration.
High non-salary costs in Greece work against any significant increase in the minimum wage, which all social partners agree has remained low.
The Greek stock market followed the trend set by most European bourses on Tuesday, on inflation considerations, which led to the evaporation of earlier gains and giving way to losses for the majority of stocks at Athinon Avenue.
The arrests of hooligan groups show that, so far, the state has indeed been shaken up by the murder of Alkis Kambanos in Thessaloniki last month.
A slowdown in the growth rate, soaring inflation, a yawning current account deficit and the suspension of investment plans are the main injuries the Greek economy is set to suffer as a result of the war in Ukraine, analysts tell Kathimerini.
Meeting of the prime ministers of Italy, Spain, Portugal and Greece to focus on energy issues, says Greek government source.