Economy
European Commission's Greek DSA sees recession ahead, debt becoming unsustainable
Ahead of the Eurogroup meeting on Friday, the European Commission prepared an updated Debt Sustainability Analysis (DSA), which was published by the Wall Street Journal.
Greek Q2 growth of 0.8 pct confounds recession forecasts
Greece’s seasonally adjusted (SA) GDP at constant prices rose quarter on quarter (QoQ) by 0.8 percent in Q2 2015 following a upward revised 0.02 percent growth recorded in Q1, according to the flash estimates published by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Record revenue shortfall of 2.83 bln in July shrinks primary surplus outperformance
Greece’s budget primary surplus significantly widened to 3.53 billion euros in the 7-month period of 2015 from 1.88 billion in the first half, according to the Finance Ministry (MoF) preliminary budget bulletin published on Thursday.
Greece commits to ambitious privatisation targets as part of new bailout
In contrast to SYRIZA’s pre-election pledges, the government has committed to proceed with an ambitious privatisation programme, according to the draft bill on the new financial aid from the eurozone.
Greek government commits to new fiscal measures for third bailout
Apart from measures to safeguard financial stability, the draft bill for the third bailout tabled in Parliament on Wednesday included also the measures for restoring fiscal health.
This is the government's strategy on banks and NPLs as part of third bailout
One of the four pillars outlined in the draft bill that was tabled to Parliament accompanying the draft agreement for new financial aid from the European Stability Mechanism (ESM) relates to safeguarding financial stability.
Draft bill sees millions in savings and revenues from variety of bailout interventions
The government tabled in Parliament on Wednesday the draft bill containing the agreement for new financial aid from the European Stability Mechanism (ESM) and the prior actions that Athens will have to implement as part of this deal.
Building activity up again in May but with smaller rise of 1.9 pct
Greek building permits grew for the fourth successive month in May, albeit by a modest 1.9 percent from 6.2 percent in April, according to the Hellenic Statistical Authority (ELSTAT).
Agreement on third bailout with revised fiscal and macro targets, host of prior actions
Following an all-night meeting with the quartet of Greece’s lenders, the Greek Finance Minister Euclid Tsakalotos and Economy Minister Giorgos Stathakis said on Tuesday morning that discussions had been successfully concluded, apart from a couple of details relating to prior actions remain to be settled.
ELA funding down by 1.48 bln in July for first monthly drop since May 2014
Greek banks’ Eurosystem funding fell by 1.29 billion euros in July after rising by 10.17 billion in June, according to the Bank of Greece's (BoG) monthly financial statement published on Monday.