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PASOK feels the squeeze as main rivals paint stark election dilemma
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.
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Banks discover stress test assumptions, results due in July
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.
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Unemployment steady at 11.6 pct in Dec, employed rise by almost 80,000 YoY
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.
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Manufacturing remains in contraction at start of 2023, but at slowest rate since Oct
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.
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Politics
ND views SYRIZA's Parliament walkout as a pre-election gift
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.
Tsipras positions SYRIZA as defender of democratic institutions amid row over police corruption
Energy tops agenda as FM heads to Israel
Economy
Retail sales rise by 12.3 pct YoY in Nov, but volumes barely move
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.
Close of 2022 sees softer labour market, with 60,235 fewer jobs
Growth in producer prices slows to 16.5 pct in Dec as energy rise moderates
Society
Poverty rate rises in 2021; even after social transfers 1 in 4 children are at risk
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.
From the National Energy and Climate Plan to COP26: What has Greek climate policy learned?
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Impact of pandemic, lockdowns reflected in lower household spending during 2020
Agora
Does the EU Commission suffer from optimism bias? (Part 1)
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.
What's the problem with Greece's media?
Tracking Greece's fiscal performance