The Athens Stock Exchange recovered some of its losses on Friday and Greek bond yields also eased after a turbulent few days as Greek officials clarified that although the government is still seeking to exit its bailout at the end of the year, it wants to do so with some kind of precautionary support.
Greece’s budget execution showed the primary surplus widening to 2.53 billion euros in the 9-month period from 1.95 billion a month earlier, according to the final data released by the Ministry of Finance (MoF) on Tuesday. These numbers confirm preliminary figures released on October 14.
Greece's current account (C/A) balance recorded a surplus for the third successive month in August. It reached 1.82 billion euros, which is 50.4 percent year on year (YoY), according to the Bank of Greece (BoG).
After peaking at 1.42 billion euros in August, the monthly rate of Greece’s unpaid taxes dropped to 1.03 billion in September, according to data provided by the General Secretariat of Information Systems (GSIS) on Tuesday.
The inaugural Julius Baer (JB) Wealth Report published this week showed that European wealth exceeded its pre-crisis peak in 2013 reaching a new all-time high of 56 trillion, up 1.7 percent year on year, but that it had fallen by more than a fifth in Greece over the last seven years
We recently highlighted the difficulties the Greek coalition was having in steering a steady course as far as its relations with Moscow are concerned. Now, a new survey has outlined to what extent Greece is an outlier within Europe on how Russia is viewed.
Greek banks are always at the forefront of domestic market developments. Despite the strong rebound of 6.4 percent on Friday, their shares still recorded cumulative losses of 7.8 percent last week and 23.9 percent over the past three months. Concerns about the outcome of the upcoming comprehensive assessment European Central Bank are one of the key factors weighing on investors’ minds.
This week's explosion of Greek bond spreads and collapse of stocks prompted many people to have a sense of déjà vu. Many editors and analysts jumped in to call the new turmoil a repeat of 2010, when the geometric growth of Greek sovereign bond yields almost brought Europe to its knees.
The narrative of how and when to exit the memorandum is currently at the heart of the discussion in Athens. Prime Minister Antonis Samaras insists that Greece does not require a third financial support programme from the troika of international creditors.