Economy
What higher ECB haircuts on collateral could mean for Greek banks' liquidity
Friday’s Eurogroup in Riga ended with eurozone finance ministers rejecting the possibility of an extraordinary meeting before the end of the month and any kind of funding disbursal without Greece having reached a full agreement with its lenders.
New unpaid taxes rising steadily, reach 3.5 bln in Q1
Greece’s new unpaid taxes slipped to 989 million in March from 1.16 billion in February, according to data released by the General Secretariat of Information Systems (GSIS).
Greek banks’ loan quality is deteriorating
One of the most worrying conclusions to emerge from the conference calls that followed the announcement of the Greek banks’ 2014 financial results was the deterioration of the quality of their Greek loan portfolios in the first two months of the year.
Travel receipts increase 16.2 pct in Feb as arrivals shoot up by 56.2 pct
The growth rate of Greece's travel receipts accelerated to 16.2 percent in February from 9.1 percent in January, according to the Bank of Greece (BoG).
Central gov't cash surplus reaches 1.19 bln in Q1, up 54.3 pct YoY
Greece’s central government primary cash surplus widened by 54.3 percent yer on year (YoY) to 1.19 billion euros in the first quarter (Q1) of 2015 from 771 million last year, according to the Bank of Greece (BoG).
Industrial turnover down by 9.8 pct in Feb for fourth straight fall
The Turnover Index in Industry headed south for the fourth straight month in February but at a decelerating pace of 9.8 percent from a downward revised 15.6 percent in January, according to the Hellenic Statistical Authority (ELSTAT).
Greek current account deficit widens by 27.4 pct in Feb
Greece's current account (C/A) deficit widened by 27.4 percent to 929 million euros in February from 729 million last year, according to the Bank of Greece (BoG).
This is where Greek gov't could find cash to cover May's obligations
Following the submission of 187.5 million of non-competitive bids on Thursday, Greece rolled-over 3-month T-Bills worth 1 billion this week. This was the third key transaction related to payment of debt obligations over the past 10 days.
Lower spending, extra revenues result in budget execution beating targets in March
Greece’s budget execution showed the 3-month primary surplus rose to 1.74 billion, up 12.6 percent, while the 2-month underperformance of 173 million turned to an over-performance of 1.62 billion, according to the Finance Ministry (MoF) preliminary budget bulletin published today.
S&P downgrades Greece, sees economy shrinking by 1.5 pct in 2015
S&P unexpectedly downgraded on Wednesday Greece’s long- and short-term ratings by one notch to ‘CCC+/C’ from ‘B-/B’ with a negative outlook.