greek economy

Greece jobless rate hit a record 25% in July

Latest official figures show that unemployment in Greece hit a record 25.1 percent in July

Latest official figures show that unemployment in Greece hit a record 25.1% in July, with the level among young people reaching 54.2%. Greece’s statistical authority said 1.26 million Greeks were jobless in July, with more than 1,000 jobs lost every day over the past year. With austerity cuts continuing and Greece likely to enter another [...]

Cyprus to apply for financial assistance from eurozone

Cyprus has told the European authorities that it intends to apply for financial assistance

Cyprus has told the European authorities that it intends to apply for financial assistance. Cyprus is the fifth eurozone member to do so. It said it needs help to shore up its banks, which are heavily exposed to the Greek economy. The announcement came on another day of nervousness about the single currency. Shares in [...]

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