ATHENS, May 2 — Ten years after sinking into its worst economic crisis in living memory, Greece once again faces the spectre of a grave recession in the midst of a global coronavirus lockdown. Though the country has so far been spared the death toll of other European nations at fewer than 150...
A Greek national flag flutters as people visit a beach, following the coronavirus disease outbreak, in Athens April 28, 2020. — Reuters pic
“The consequences of this coronavirus attack will undoubtedly be dramatic,” he told parliament on Thursday. Greece this year had been counting on a growth spurt of 2.4 per cent. After exiting the final debt crisis bailout in 2018, its borrowing rates were at historic lows — in October Athens even sold treasury bills at a negative rate — and it has cash reserves of more than €36 billion at hand.
Petrakis also believes that the economic impact of this crisis will be less protracted. The IMF itself estimates a 5.5 per cent Greek recovery in 2021. “Last summer I had 10 tables outside and 10 inside. Now, I will just have three tables outside and I’m supposed to make do,” says Costas Gogos, owner of a tavern in the port of Rafina near Athens.
In the years that followed, a quarter of Greek national output would be wiped out in wave upon wave of wage and pension cuts and tax hikes demanded by the so-called troika of creditors.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Health D-G: Traditional Malay, Chinese medicine no cure for Covid-19 | Malay MailKUALA LUMPUR, April 30 — There is no scientific evidence that traditional Malay and Chinese herbal medicines can treat the Covid-19 pandemic, the Ministry of Health (MOH) said today although it did not discount the possibility that they may help in the recovery. In the daily Covid-19 press...
Read more »
Singaporeans who break quarantine for food pay hefty bill | Malay MailSINGAPORE, April 30 ― A Singaporean man who broke his coronavirus quarantine with 30 minutes remaining to buy prata flatbread worth a few dollars was fined US$1,000 (RM4,322), the latest in a string of tough punishments for those who breach the city-state's Covid-19 containment rules. The tiny...
Read more »
‘Nordic Noir’ pioneer Maj Sjowall dead at 84 | Malay MailSTOCKHOLM, April 30 — Maj Sjowall, one half of a Swedish crime-writing couple credited with inventing “Nordic Noir”, has died aged 84, her publisher said on Wednesday. Sjowall “passed away today after an extended period of illness,” Ann-Marie Skarp head of publisher Piratforlaget, told...
Read more »
Pensonic returns to the black in Q3 | Malay MailKUALA LUMPUR, April 29 — Pensonic Holdings Bhd posted a net profit of RM5.08 million in the third quarter ended Feb 29, 2020 (Q3), against a net loss of RM968,000 in the same quarter a year ago. In a filing to Bursa Malaysia, the Group said its revenue increased to RM69.43 million during the...
Read more »
More than half of Malaysians experience mental health issues during MCO, think tank reveals | Malay MailKUALA LUMPUR, April 30 — Malaysian think tank The Centre today revealed that a study on mental health well-being showed that almost half of its respondents reported experiencing negative mental well-being during the movement control order (MCO), with different levels of severity. The study titled...
Read more »
Police inspector claims trial to raping two Mongolian women | Malay MailPETALING JAYA, April 30 — A police inspector has claimed trial at the Sessions Court today to raping and molesting two Mongolian women at a hotel earlier this month. Hazrul Hizham Ghazali, 30, was accused of using his authority as a senior police officer to coerce the consent of two Mongolian...
Read more »