Economy

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Photo by Angelos Christofilopoulos/Fosphotos Focus of banking sector commitments shift to NPL reduction, debt restructuring framework

The safeguarding of financial stability is one of the pillars of Greece’s third programme and the Supplemental Memorandum of Understanding (sMoU) has a section dedicated to the banking sector, with the focus on the secondary market for Non-Performing Loans (NPLs), debt restructuring and insolvency procedures and the overall governance of Hellenic Financial Stability Fund (HFSF) and the banks.

Image via www.ikea.gr Fourlis Group improves on net loss in Q1

Fourlis Group, a leading group of companies in Greece and the Balkans for quality consumer durable goods, reported an increase in sales by 8 percent in the first quarter (Q1) of the year.

Photo by Panayotis Tzamaros/Fosphotos Concerns raised about next year's pensions cuts

Employees at Greece's main social security fund have raised the alarm regarding the extent to which pensions will be cut next year, when Greece is expected to trim its spending on retirees by 1 percent of GDP, or 1.8 billion euros.

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