Economy
PBO warns of recovery risks, fourth bailout and possible default
In its quarterly report published on Friday, the Parliamentary Budget Office (PBO) urged for a swift conclusion of the programme review and implementation of the necessary reforms, which could lead to a sustainable economic recovery.
Stocks down 0.4 pct this week after tumbling in wake of Eurogroup
The Greek equity market showed two sides this week. Initial prospects for a positive outcome at Thursday’s Eurogroup pushed shares up by 3.4 percent in the first four sessions.
Credit contraction accelerates to 1.5 pct in Dec, net lending flow remains subdued
The rate of credit contraction in the Greek market accelerated to 1.5 percent in December after slowing to 1.3 percent in the previous month, Bank of Greece (BoG) figures displayed on Friday.
Positive deposit flow of 2.8 bln in Dec leads 2016 inflows to 4.2 bln
The Greek market posted notable inflows of 2.8 billion euros in December from a marginal positive flow of 12 million in the previous month, Bank of Greece (BoG) figures revealed on Friday.
IMF's outlook on debt unsustainability adds to doubts after inconclusive Eurogroup
The Greek government attempted to put a positive spin on Thursday’s Eurogroup even though it seems to have come under strong pressure to adopt the fiscal measures demanded by the International Monetary Fund in advance and emerged from the Brussels meeting without any clear indication of when or under what terms the institutions will return to Athens.
Eurogroup sheds little light on how Greek review will progress
Thursday’s Eurogroup yielded little in way of tangible results for the Greek programme, apart from a clear insistence on the side of the European lenders that the International Monetary Fund should remain fully involved in the bailout.
Greek households saw net financial wealth plummet by 37.5 pct during crisis
Τhe impact on Greek households’ financial wealth and liabilities during the crisis years is examined in a study included in the latest statistical bulletin published by Bank of Greece on Wednesday.
Disposable income drops by 2.3 pct in Q3 on sharp rise in taxes
Greek household disposable income fell for the eighth successive quarter in the third quarter (Q3) of 2016, when it decreased by 2.3 percent compared to a slight drop of 0.3 percent recorded in Q2, Hellenic Statistical Authority (ELSTAT) data revealed on Wednesday.
Overdue contributions rise at accelerating pace of 615 mln in Q4, stock climbs to 17.54 bln
The increase in unpaid social security contributions (SSCs) accelerated quarter on quarter (QoQ) to 615 million euros in the fourth quarter (Q4) of 2016, from 310 million in the previous quarter.
Tax revenue overperformance leads budget primary surplus to 4.44 bln in 2016
Greece’s budget primary surplus almost doubled to 4.44 billion euros in 2016 from 2.27 billion in 2015, the Finance Ministry (MoF) final budget execution bulletin showed on Tuesday.