With all parties in informal campaign mode, the outcome of the next elections is becoming increasingly uncertain. The gap between New Democracy and SYRIZA is closing, while PASOK is emerging as the main loser in an increasingly polarised debate.
The European Banking Authority (EBA) announced this week the assumptions for this year’s stress tests. The process is expected to be completed in early summer, followed by the announcement of the results.
Greece’s seasonally adjusted (SA) unemployment rate remained stable in December at 11.6 percent, unchanged from November, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Greece’s Manufacturing PMI remained in contraction at the start of 2023 at 49.2 points, eased off though from the 47.2 points of December, according to S&P Global data released on Wednesday.
The government believes that SYRIZA leader Alexis Tsipras has scored an own goal by pulling his party out of any further votes in Parliament until elections take place, although New Democracy is plagued by its own concerns in the form of allegations about corruption within the police force.
The growth in Greece’s retail sales picked up pace in November, rising by 12.3 percent year-on-year (YoY), from 8 percent growth in October, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
The latest living conditions published by ELSTAT on Friday shows that poverty resumed an upward trend in 2021 after a series of declines that started in 2014, with 2020 marking the most recent annual low.
This blog post is based on Chapter 8 of a new book: “The Macroeconomy of the European Union,” by Bob Traa, available on Amazon.com. The book examines structural considerations for potential growth, fiscal and debt developments, and the fiscal rules in the EU27 and in each individual member state, including Greece.