Economy
Working-class homes or millionaires' mansions - what's going under the hammer in property auctions?
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On Wednesday 21 March, a familiar scene played out outside the offices of a notary in central Athens. A few dozen protesters organised by the anti-austerity “I Won’t Pay” movement and the political parties Popular Unity and Course for Freedom clashed with police as they tried to obstruct the scheduled auctions of foreclosed properties.
Less than 10 pct of 99.97 bln overdue taxes deemed collectible by authorities
The annual report by Independent Authority of Public Revenues’ (IAPR) for 2017 revealed that the overwhelming majority of those who owed taxes to the state at the end of 2017 owe sums of 500 euros and under.
Complications over reforms cast doubt on June target for global deal
With 10 days to go until the meeting of the Euro Working Group on April 12, the onus is on the Greek government to start ticking off more prior actions even though speculation is rife that a global deal between Athens and the lenders may have to wait until July, rather than June.
PMI at 55 pts in March, slowing from Feb but above 50 for tenth month
Greece’s Manufacturing PMI dipped by 1.1 points to 55 in March, the tenth consecutive reading above the 50-mark threshold.
Retail sales rise by 0.7 pct in Jan, volume up by 1.5 pct
Greece’s retail sales rose by 0.7 percent year-on-year in January after December’s increase was revised down to 2 percent, according to data published by the Hellenic Statistical Authority (ELSTAT) on Friday.
Final decision on 2019 fiscal measures still a few weeks away
The first step in the process of deciding whether Greece will have to implement next year fiscal measures worth 1 or 2 percent of GDP is due to be taken on Friday, with the International Monetary Fund stressing that several more weeks are needed before any decision can be taken.
Lamda Development net losses deepen to 43.7 mln in 2017
Property developer Lamda Development’s full-year results for 2017 show a net loss of 43.7 million euros compared to a loss of 3.1 million in 2016.
Banks meet NPE targets in Q4, reduction at highest rate since start of crisis
Greek banks succeeded in meeting their non-performing exposure (NPE) reduction target in the fourth quarter (Q4) of 2017 according to the sixth quarterly report on operational targets for NPEs published by the Bank of Greece (BoG) on Thursday afternoon.
Tsakalotos sees timely conclusion to fourth review despite growing doubts
Seeking to counter the recent concern expressed about whether the government will be able to meet its deadlines regarding the completion of the 88 prior actions in the fourth review, Finance Minister Euclid Tsakalotos has insisted that everything will be concluded on time.
Piraeus Bank makes net profit of 12 mln in Q4, edges into profitability for 2017
Piraeus Bank’s fourth quarter (Q4) results showed a net profit of 12 million euros from continued operations, reversing the loss of 17 million seen in Q3.