Following the presentation of SYRIZA’s updated economic policies on January 3, Prime Minister and New Democracy (ND) leader Antonis Samaras outlined his party’s programme for “Growth and Reforms – Greece 2021” on Saturday.
The Greek Industrial Production Index (IPI) increased by 2.3 percent in November following a downward revised 0.4 percent drop in October, according to the Hellenic Statistical Authority (ELSTAT).
The drop in Greece’s trade deficit accelerated to 10.7 percent in November after easing by 4.4 percent in October, according to the Hellenic Statistical Authority (ELSTAT).
SYRIZA leader Alexis Tsipras has repeatedly outlined the party’s immediate economic policies which mainly involve three key themes: asking for a significant reduction of nominal debt, renegotiation with the eurozone on the Memorandum of Understanding (MoU) policies and implementation of a 3-pillar programme with a total cost estimated at 11.4 billion euros.
The interest rate on households’ new time deposits dropped by another 6 basis points (bps) to 1.88 percent in November, according to the Bank of Greece (BoG). This is the lowest reading since Greece accessed the euro area in 2002.
The seasonally adjusted (SA) unemployment rate eased for the second successive month to 25.8 percent in October from an upward revised 26 percent in September, according to the Hellenic Statistical Agency (ELSTAT).
After improving in the preceding two months, Greece’s economic sentiment (ESI) fell by 3.8 points to 98.9 in December from 102.7 in November, according to the European Commission (EC).
The Greek general government (gg) primary cash surplus further widened to 3.68 billion in the 11-month period of 2014, 2.4 times above the 1.53 billion in the corresponding period last year, according the gg bulletin published by the Ministry of Finance (MoF).
Beyond whether SYRIZA is able to secure debt restructuring and a renegotiation of the Memorandum of Understanding (MoU), one of the key questions regarding a leftist government would be about the funding of the 3-pillar programme initially revealed at the International Trade Fair (ITF) in Thessaloniki last September.
The Greek stock market continued heading south for the second straight session on Wednesday, when it fell by 1.46 percent.