The pension cuts due in 2019 continue to dominate the Greek political agenda, with the latest intervention from a government official suggesting that Athens has no intention of acting on this issue without first reaching an understanding with the European institutions.
Greece’s current account (C/A) balance recorded a surplus of 191.5 million euros in May, reversing the deficit of 1.34 billion noted in April, Bank of Greece (BoG) figures showed on Monday.
Having updated Greece’s credit rating ahead of schedule at the end of last month in response to the June 21 Eurogroup decision and the conclusion of the third programme, S&P kept the country’s rating unchanged to ‘B+’ during its regular update cycle on Friday.
As Greece stands on the cusp of exiting the third, and final, of its painful bailouts, there is a discussion about the terms under which it is exiting and how they compare to the conditions that were on offer the last time the country was close to the MoU finishing line, about four years ago.
Athens sought to ease tensions with Moscow on Thursday following an official confirmation by the Russia’s Ambassador to Greece Andrey Maslov that Foreign Minister Sergey Lavrov has cancelled plans to visit this autumn following the recent expulsion of Russian diplomats by the Greek government.
Greece’s industrial turnover continued its positive streak this year with an increase of 11.4 percent in May after April’s figure was slightly revised down to 6.5 percent, Hellenic Statistical Authority (ELSTAT) data published on Friday showed.
Greece’s tax freedom day falls on July 18 this year according to data collected by the Dragoumis Center for Liberal Studies (KEFiM) think-tank.
The recent Council summit of the EU was termed a make-or-break moment by some of its participants. Numerous media representatives gathered in Brussels reported that the raison d’être of the EU was at risk. Most financial analysts predicted a stormy reaction in bond markets if a compromise could not be reached.