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Structural reform--or more accurately talk of structural reform--is everywhere nowadays. Every country struggling for economic growth, it seems, is getting the same message from the chattering classes as well as [...]

Greece wants freedom. Its creditors don't want it to have a free lunch. A new grand bargain is required TEN YEARS ago this month George Papandreou, then the newly elected [...]

A critical task, for both Greece's banks and its economy, enters a new phase OF THE [euro]57.7bn ($68.2bn) of loans that Piraeus Bank, one of Greece's four dominant lenders, had [...]

Purpose--This paper aims to examine the relevance of International Financial Reporting Standards (IFRS) in emerging markets, with special reference to the case of Greece. Design/methodology/approach--This paper adopts a mixed methodology relying primarily on secondary sources such as the relevant legislation, published annual reports and reports on the effects of the application of IFRS by Greek firms as well as the results of a postal survey addressed to the finance managers of the top 100 Greek firms. For the postal survey, a modified version of the questionnaire used by Tyrall et al. was adopted. Findings--Although the Greek environment was not appropriate for IFRS application, participants in the survey believe that their adoption improved the quality of financial reporting. The introduction of IFRS increased the reliability, transparency and comparability of the financia1 statements. Practical implications--This study provides insights regarding the extent to which the introduction of IFRS influenced the accounting information supplied by firms operating within the European Union. Originality/value--The paper empirically investigates the impact of the introduction of IFRS on the quality of financial statements within the context of emerging markets. Keywords Financial reporting, Emerging markets, Greece Paper type Research paper DOI 10.1108/03074351011081259

The new chancellor will find himself in the worst starting position of anyone new in that job since the Second World War. According to the Treasury, we are just starting [...]

Several datasets are employed to explain the native-immigrant wage differentials, as well as the occupation segregation that are observed in the Greek labor market. The asymmetrical occupational access by these native workers is shown to lead to a high unexplained wage differentials in the country.

Purpose--The purpose of this paper is to examine the determinants of profitability for a sample of Greek non-financial firms listed in the Athens Stock Exchange for the period 1995-2003. This is a very important period for the Greek economy on the way to European monetary union (EMU). Design/methodology/approach--The methodologies employed include panel data estimation techniques. This research attempts to exploit the determinants of firm profitability of non-financial Greek firms listed in Athens Exchange utilizing firm-specific publicly available accounting variables using panel data estimation techniques rather than cross-sectional analysis. Findings--According to the findings, firm profitability was positively affected by size, sales growth and investment and negatively by leverage and current assets. Additionally, we found that the EMU participation and the adoption of the euro were negatively related to firm profitability. Practical implications--Taking into account the fact that the Greek economy has undergone significant transformation during the period under examination on its way to join EMU and to adopt the euro currency, a model has been formulated where both firm-specific and economy wide factors determine firm profitability. Originality/value--This paper focuses on a less developed and efficient stock market. In contrast to previous studies that did not take into account the convergence of the Greek economy to EMU averages and the subsequent adoption of the euro, this paper analyses data for the pre-EMU and the post-EMU periods in an attempt to quantify a potential macroeconomic effect on firm-specific profitability. Keywords Greece, Stock exchanges, Profit, European monetary union, National economy Paper type Research paper DOI 10.1108/03074350910993818

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exchange rate US$:[euro] (av) 2015 1.16 1.13 1.08 1.08 1.11 1.12 1.10 1.11 1.12 1.12 1.07 1.09 2016 [...]

2013[sup.a] 2014[sup.a] 2015[sup.a] 2016[sup.a] 2017[sup.b] 2018[sup.c] 2019[sup.c] GDP Nominal GDP (US$ bn) 239.7 237.1 195.3 192.5 200.6 212.8 217.3 Nominal GDP ([euro] bn) 180.5 178.4 176.0 173.9 177.1 181.5 188.1 [...]

Quarterly forecasts 2017 2018 2019 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr GDP [...]

2015 2016 2017 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr Central government finance ([euro] bn) Revenue 14.3 13.1 13.0 14.3 13.4 [...]

2017 2018 2019 2020 2021 2022 Economic growth (%) US GDP 2.2 2.2 2.2 0.8 1.8 1.9 OECD GDP 2.3 2.0 2.0 1.3 1.9 1.9 EU28 GDP 2.3 1.9 1.8 [...]

Forecast summary (% unless otherwise indicated) 2017[sup.a] 2018[sup.b] 2019[sup.b] 2020[sup.b] 2021[sup.b] 2022[sup.b] Real GDP growth 1.3 1.6 1.9 1.8 2.0 1.8 Gross fixed investment growth 3.0 3.5 4.0 3.0 5.0 [...]

Compared with 2007 levels, real GDP has shrunk by more than a quarter, government consumption by nearly a quarter, household consumption by a fifth and gross fixed investment by almost [...]

In January-October Greece's harmonised index of consumer prices (HICP) rose by 1.2% year on year on average. The main positive contribution has come from transport prices, which are closely linked [...]

The euro has moved in a relatively narrow range around US$1.10:EUR1 since mid-2015. The annual average exchange rate was US$1.11:EUR1 in 2016, although a sharp appreciation in the value of [...]

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exchange rate US$:[euro] (av) 2014 1.36 1.37 1.38 1.38 1.37 1.36 1.35 1.33 1.29 1.27 1.25 1.23 2015 [...]

2012[sup.a] 2013[sup.a] 2014[sup.a] 2015[sup.a] 2016[sup.b] 2017[sup.c] 2018[sup.c] GDP Nominal GDP (US$ bn) 245.9 239.7 236.3 194.6 194.8[sup.a] 189.9 194.5 Nominal GDP ([euro] bn) 191.3 180.5 177.8 175.4 176.0[sup.a] 178.7 182.6 [...]

Forecast summary (% unless otherwise indicated) 2016[sup.a] 2017[sup.b] 2018[sup.b] 2019[sup.b] 2020[sup.b] 2021[sup.b] Real GDP growth 0.3 1.2 1.7 1.8 1.7 1.9 Gross fixed investment growth 4.0[sup.c] 4.0 4.0 5.0 5.0 [...]

The EU's harmonised index of consumer prices (HICP) for Greece rose by 0.3% year on year in December 2016. On the national measure inflation was flat year on year in [...]

Quarterly forecasts 2016 2017 2018 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr GDP [...]

Greece's latest bail-out programme will shape economic policy to 2018 and probably beyond. The ESM will provide financial assistance to meet Greece's financing needs, which euro zone leaders estimate at [...]

Outlook for 2017-21 The government of Alexis Tsipras, the prime minister, comprising the radical-left Syriza Unifying Social Front (Syriza) and the nationalist Independent Greeks (AE), has a shaky majority. There [...]

The script seems familiar Brinkmanship over emergency loans resumes THE tagline of the film 'My Big Fat Greek Wedding 2', which was released in March, is 'People change. Greeks don't.' [...]

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Exchange rate US$:[euro] (av) 2014 1.36 1.37 1.38 1.38 1.37 1.36 1.35 1.33 1.29 1.27 1.25 1.23 2015 [...]

2014 2015 2016 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr Central government finance ([euro] bn) Revenue 13.6 13.0 11.8 12.7 12.2 [...]

2011[sup.a] 2012[sup.a] 2013[sup.a] 2014[sup.a] 2015[sup.a] 2016[sup.b] 2017[sup.b] GDP Nominal GDP (US$ bn) 288.2 246.1 239.2 235.4 194.8 192.9 202.2 Nominal GDP ([euro] bn) 207.1 191.4 180.1 177.1 175.6 176.1 185.0 [...]