Greece

Government hopes to surpass the financial crisis

Athens Stock Exchange saw a decline of 4.58% in the first week of February, to reach 886.57 points, after it opened at a loss of 2.44%. The bank index value lost 4.11%. On the other hand, investors tended in mid-January to sell shares in order to make profits after the year’s index closed down with a change of 2% (i.e. 1.260.70 points). Greek industrial output recorded its sharpest annual decline by 8.1% as consumer prices continued to shrink. Production of non-ferrous metals such as wood and clothing went down, causing a decline of 4.3% in the industrial output in July. Greece’s exports rose 5 % in the first eight months of 2013, by the value of €18.3 billion after it was €17.4 billion in 2012. As for Greece’s imports, they dropped 5 %, from €32.8 billion in 2012 to €31.2 billion in 2013. The Greek trade balance recorded a deficit of €12.9 billion in the first eight months of 2013, compared with €15.4 billion in 2012. In the midst of Athens’ recession, Greece hosted mid last year the first forum against austerity measures imposed in a number of European countries. Representatives of civil society organizations and trade unions, alongside citizens, who are against austerity and its repercussions, attended the forum. This event was held since Greece is one of the most European countries suffering from austerity measures.