Economy
Greece's largest supermarket chain, Marinopoulos, facing bankruptcy
Marinopoulos supermarket chain has filed for protection from its creditors after running up huge debts and could be the latest bankruptcy of a major business in Greece.
Tourism and exports expect impact from Brexit fallout
Although the effect from Brexit is likely to be rather small and limited on Greek economy, according to Bank of Greece (BoG) sources, some sectors could feel an imminent impact from the recent turmoil in the UK.
Budget primary surplus of 2.28 bln in first five months of 2016, tax revenues beat target in May
Greece’s budget primary surplus was confirmed at 2.28 billion euros in the 5-month period of 2016, which was significantly higher than last year’s figure of 1.51 billion, according to the Finance Ministry’s (MoF) final budget execution bulletin released on Monday.
Credit contraction accelerates to 2 pct in May on increased loan deductions of 357 mln
Greek bank credit contraction edged up to 2 percent in May, after slowing to 1.9 percent in April, Bank of Greece (BoG) figures displayed on Monday.
Deposit flow turns positive in May with inflows of 184 mln
The flow of Greek private sector deposits turned positive in May with inflows of 184 million following outflows of 59 million in April, Bank of Greece (BoG) figures displayed on Monday.
![Photo by Can Esenbel [http://www.mundanepleasure.com/]](resources/toolip/img-thumb/2013/10/16/stocks2_economy_esenbel-medium.jpg "Photo by Can Esenbel [http://www.mundanepleasure.com/]")
Stocks plunge 8.8 pct over week in aftermath of UK referendum outcome
The Greek equity market tumbled 13.4 percent on Friday as the result of the UK referendum triggered risk-off trades in the global markets.
Greek economy braced for impact from Brexit, hopes effect will be limited
The impact of the UK referendum on Greece will be rather small and limited, Bank of Greece (BoG) sources said on Friday after the majority of British voters backed “Leave,” raising questions about what effect this could have on the Greek economy in the months to come.
Pending pensions mount up, complicating fiscal effort
During the recent annual conference organised by the Confederation of Social Security Workers (POPOPK), its chairman provided an update on the key pension fund figures, which continue to demonstrate a bleak outlook for the Greek social security sector.
Study estimates tax evasion costs taxpayer up to 16 bln annually
Tax evasion in Greece is estimated to range from 6 to 9 percent of GDP, involving tax losses from 11 to 16 billion a year – the equivalent of almost one third of public revenues – according to a new study conducted by Ernst and Young for the Athens-based think tank Dianeosis.
ECB reinstates waiver in first step towards improving liquidity conditions for Greek banks
As expected, the European Central Bank’s governing council decided on Wednesday evening to reinstate the waiver on Greek government securities, which was lifted on February 4, 2015.