The week begins with fresh rumours of an imminent return to the markets for Greece as the government comes under more pressure due to its clash with the country’s judiciary and revelations from former ministers.
S&P upward revised Greece’s outlook to positive from stable and affirmed its ‘B-‘ rating in its scheduled credit rating review published on Friday evening.
Uncertainty surrounds the government’s plans to return to the bond markets after the European Central Bank and the International Monetary Fund appeared to be less than fully supportive of Greece issuing a bond right now.
Greece’s current account (C/A) deficit increased by 124.3 million euros to 581.6 million in May from 457.3 million a year ago, Bank of Greece (BoG) figures showed on Friday.
A survey by the diaNEOsis research and policy institute has found that almost half of all Greeks aged 18-35 receive economical support from their parents or other relatives.
Portugal kept access to short-term markets during the programme and compensated the small financial envelope from the troika by issuing more short-term debt over the programme that ran between 2011-2014.