As expected, Thursday’s European Council did not lead to a decision on further extraordinary measures to support Europe’s struggling economies, leading to Greek Prime Minister Kyriakos Mitsotakis taking to social media to express his reaction.
The extent of the damage that could be inflicted on the Greek economy as a result of the coronavirus impact is becoming clearer by the day, with the Finance Ministry and leading investment houses now expecting Greece to slip into a recession again this year.
Credit contraction in the Greek market came to 0.7 percent in February, slightly deepening from a contraction of 0.6 percent in January, Bank of Greece (BoG) figures showed on Thursday.
Net deposit movements in the Greek banking system were positive by 1.06 billion euros in February, following outflows of 2.16 billion in January, Bank of Greece (BoG) figures revealed on Thursday.
Prime Minister Kyriakos Mitsotakis and eight other European leaders wrote a letter to European Council president Charles Michel on Wednesday, ahead of Thursday’s teleconference, arguing for a coordinated eurozone-level response to mitigate the impact of the coronavirus pandemic on member-states’ economies.
The budget primary balance recorded a surplus of 831 million euros in the first two months of 2020, compared to a surplus of 822 million noted in February 2019, the Finance Ministry (MoF) budget execution bulletin confirmed on Thursday.
The annual OECD study measuring how people feel about their lives in a number of OECD countries has shed light on how Greeks feel about life in their country.
These are extraordinary times. As the saying goes, they also require extraordinary measures and unexpected decisions. What past crises could not achieve, and where decision-makers wavered or delayed, the advent of the coronavirus has triggered.