Economy

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Photo by MacroPolis Piraeus Bank seals milestone deal with KKR over 1.2 bln of non-core assets

In an unusual move by the standards of the Greek banking sector, Piraeus Bank has announced an agreement with leading global investment firm KKR for the transfer and securitisation of 1.2 billion of non-core assets to a new structure managed and controlled by KKR Credit and serviced by Piraeus.

Rare rise of 2.1 pct in Q3 for Greek wages index

The seasonally adjusted Wages Index rebounded 2.1 percent in the third quarter (Q3) of 2014 after falling by 0.8 percent in Q2, according to the Hellenic Statistical Authority (ELSTAT).

Almost all services in Greece saw decline in Q3

The evolution of the turnover indices for the services sector showed a further worsening in the third quarter (Q3) of 2014 with 12 out of the 14 service activities recording a drop, according to the Hellenic Statistical Authority (ELSTAT).

Moody's sees 1.2 pct growth in Greece next year but highlights political risk

Early presidential elections accelerate the risk of early parliamentary elections, which is a credit negative, according to Moody’s latest comment on Greece. Higher risk stems from the high electoral threshold and the coalition government’s presently slim majority in parliament, the ratings agency said.

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