The annual report on European Small and Medium-sized Enterprises (SMEs) released by the European Commission (EC) this week showed that SME employment in Greece fell by 27 percent since 2008, which corresponds to 630,000 fewer jobs.
The turnover of Greece’s retail trade index increased for the second straight month by 1.5 percent in July, following a marginal increase of 0.4 percent in June, according to the Hellenic Statistical Agency (ELSTAT).
The Greek Finance Ministry (MoF) submitted the 2015 draft budget on Monday, with the headline figures confirming earlier reports regarding next year's surplus and other fiscal targets.
Reports in the Greek media on Sunday indicate that the 2015 draft budget to be tabled in Parliament on Monday will forecast a primary surplus of 2.9 percent of GDP.
The Greek general government (gg) primary cash surplus more than doubled year on year (YoY) reaching 2.45 billion euros in the 8-month period of 2014 from 1.17 billion last year, according the gg bulletin released by the Ministry of Finance (MoF) on Friday.
The European Central Bank (ECB) President Mario Draghi confirmed in a press conference on Thursday that assset-backed Securities (ABSs) and covered bonds from Greece and Cyprus, which until now have not been eligible as collateral with the Frankfurt-based lender, will now be "subject to specific rules with risk-mitigating measures.”
The European Central Bank (ECB) announced on September 4 that it will proceed with a large-scale purchase of asset-backed securities (ABS) as well as euro-denominated covered bonds issued by eurozone banks starting from October.
In contrast to previous first meetings between the Greek authorities and the heads of troika mission, the outcome of Tuesday’s inaugural meeting suggests an initial agreement on the fiscal target for 2015.
The interest rate on households’ new time deposits dropped by a further 15 basis points (bps) to 2.13 percent in August, according to the Bank of Greece (BoG).
Greece’s Manufacturing PMI dropped 1.7 points to 48.4 in September from 50.1 in August, according to Markit.