High participation rate helps bond swap tick box
Greece continues debt management with swap of bonds worth 30 bln
Retail sales continue their rise in July as consumer confidence improves
Rating agencies concur in improved prospects for Greece
Fitch upgrades Greek rating to B-, sees debt sustainability improving
Greece completes first bond issue in three years, eyes more on way out of programme
EU makes dramatic revision to economic forecasts, sees recession of 2-4 pct this year
The European Commission (EC) published on Wednesday its assessment following the official Greek request for a 3-year loan from the European Stability Mechanism (ESM).
In specific, a primary deficit of zero to 1 percent is now projected for 2015, a primary balance of 1 to 0.5 percent in 2016 and a primary surplus of 2.25 to 2 percent in 2016. However, the primary surplus target of 3.5 percent as of 2018 remains unchan...
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