Business | Daily | Tourist
INFORMATION SERVICES

ATHENS – With scores of thousands of businesses closing in Greece the last four years during a crushing economic crisis, the number of those seeking bankruptcy protection has started to slacken.

The number of companies that filed for bankruptcy in Greece last year declined by 5.5 percent from 2012, according to ICAP Group data released on July 22nd by the Federation of Business Information Services (FEBIS) concerning Western Europe.

While the number of companies in Western Europe going bankrupt posted a 1.1 percent rise compared with the year before, there were only 392 firms going through the process in Greece, compared with 415 in 2012.

But in Greece – where the economy shrank 3.9 percent last year – only a small number of corporate bankruptcies are conducted through the formal procedure provided for by law.

The report says it remains to be seen whether the drastic measures taken in Eurozone periphery countries – including Greece – have contributed to the improvement in their competitiveness and that they can in fact respond to market pressures.

The post Fewer Greek Companies Go Bankrupt appeared first on The National Herald.

Source: The National Herald
Share it now!
More
Who We Are

GQS acts as an “information representative” providing a variety of accurate and authoritative analytics and responses About Greece. Our field of expertise ranges from simple Daily Life questions related to Tourism or the History of Greece, up to large Business related projects such as Economic Research, Human Resources Selection or Real Estate Services.

Find out more

Contact Us

Are you interested in obtaining any kind of information about Greece?

Let us help you!

If your requirements go beyond simple services and you want specialized information, you will receive a detailed email for any charges.

  • Weather

    Locations:
    Athens
    October 23, 2017, 1:48 am
    Clear
    Clear
    17°C
    real feel: 17°C
    current pressure: 1010 mb
    humidity: 77%
    wind speed: 1 m/s N
    wind gusts: 1 m/s
    UV-Index: 0
    sunrise: 7:41 am
    sunset: 6:37 pm
     
  • Currency