Economy
Eurogroup grants short-term debt relief but leaves Athens fretting over fiscal targets and IMF
Monday’s Eurogroup concluded with eurozone finance ministers agreeing to the short-term debt relief measures proposed by the European Stability Mechanism but leaving several lingering questions about other key issues.
Terna Energy sales up by 9.7 pct for 9-month
Renewable energy company, Terna Energy’s 9-month 2016 results show that sales stood at 148.3 million euros, up by 9.7 percent compared to the 9-month 2015 figure of 135.2 million euros.
Strong H1 construction boosts GEK Terna 9-month results
Greek construction and energy group GEK Terna has released its financial statements for the 9-months of 2016 which show that the group’s consolidated sales came to 840 million euros compared to 666.7 million euros, an increase of 26 percent.
Stagnant construction sector dampens Ellaktor Group’s results
The Ellaktor Group of companies has released its 9-month 2016 results, showing that consolidated revenues came to 1.28 billion euros, an increase of 17.1 percent compared to 1.07 billion euros reported for the 9-month 2015 period.
Greece heads to Eurogroup facing uncertain outcome
Ahead of the Eurogroup due to start in Brussels on Monday at 3 pm local time, another teleconference was held between the Greek ministers and the institutions’ mission chiefs on Saturday evening.
What the agreement between Greece and lenders means for fiscal and tax policy
Following the first round of meetings between the Greek ministers and the institutions’ mission chiefs at the end of October, Finance Ministry sources said the biggest stumbling blocks in the second programme review were the fiscal gap, funding of the guaranteed minimum income (GMI) and labour market reforms.
General government primary cash surplus to Oct rises to 6.1 bln, arrears slip to 6.3 bln
Greece’s general government (gg) primary cash surplus expanded by 1.37 billion euros to 6.08 billion in the 10-month period of 2016 from 4.71 billion in the corresponding period last year, the Finance Ministry (MoF) gg bulletin showed on Friday evening.
Greek stocks fall 1.5 pct on week, banks edge up 0.6 pct
The Greek equity market remained volatile mostly driven by rumours and press reports on the potential outcome of Monday’s Eurogroup, which will also determine next week’s performance.
Time deposit rate edges down to 0.76 pct, loan rate spikes to 5 percent
Greek households’ new time deposit rate dropped for the second straight month, albeit at a slower pace, by 3 basis points (bps) to 0.76 percent in October, after a decline by 8 bps in September, Bank of Greece (BoG) data displayed on Friday.
The key elements of the draft agreement between Greece and lenders
During the second round of meetings between the institutions’ mission chiefs and the Greek government, a draft supplemental memorandum of understanding (sMoU) was prepared.