BUSINESS

Almost nine years since the outset of the Greek debt crisis, the deep and prolonged recession has led to substantial decline in ordinary financial activity and has swept away a quarter of the national Gross Domestic Product (GDP), an aftermath usually observed in times of war. The ongoing crisis has had an extremely negative effect on labour market as well. In a country of 11 million people, more than one million jobs […]

Past and recent records of litigation proceedings before first instance courts in Greece have brought to the surface a reality that depicts severe delays in case trials, most of the times coming as a result of lengthy hearings and ever-expanding caseload, as well as of many consensual or disputed trial adjournments or ex officio adjournments […]

Since the onset of the Greek sovereign debt crisis and in the midst of non-stop negotiations with the European Commission, the European Central Bank and the IMF, Greece has been instructed to apply tight fiscal consolidation measures and implement a series of structural reforms to improve its competitiveness and boost its growth, in seek of […]

The bankruptcy system has never really worked in Albania and it has been practicably impossible for companies to finalize bankruptcy proceedings and be declared officially bankrupt.The main reason of such difficulties was the existence of a bankruptcy law, purely written or translated from the respective German one, the implementation of which turned out to be […]

Over the last seven years, Greece has been under an austerity restructuring programme, receiving extended aid from European financial institutions and international creditors in an attempt to tackle its overly high deficits and incessant market stagnation. 2016 did not seem to get off to a flying start when it comes to financial markets and, in […]

It is commonly accepted that the financial, social, and political transition of Albaniainto the post-communistera not only failed to address a major long-standing problem related to private property rights, but actually furtherjumbled up real estate ownership relationships.The fuzzy legal framework governing property rights and the absence of a proper administration systemremainmajor obstaclesto the growth of […]

It is common ground that the financial, social and political transition of Albania into the post-communist era not only failed to address a major long-standing problem related to private property rights, but it has allegedly further jumbled up real estate ownership relationships. The fuzzy legal framework governing property rights and the absence of a proper […]

The vast number of non-performing loans (“NPLs”), i.e. loans not paid for over 90 days – exceeding at times 2.000.000 in number – has created over the past 6 years an enormousburden on Greek economy hampering even more its recovery. Each of the “memoranda” implemented during the last years explicitly provided for Greek bank recapitalizations […]