Economy
Eurogroup gives Greece another week to agree measures, keeps tranche and recap funds on hold
As expected, the Eurogroup held on Monday took stock of the current state of play regarding the implementation of the Greek programme but it did not reach any decision on the disbursement of the next sub-tranche of 2 billion euros.
Industrial production up by 2.8 pct in Sept for second straight raise
Greek Industrial Production Index (IPI) grew for the second straight month but at the slower pace of 2.8 percent in September from a downward revised 4.1 percent in August, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
OECD sees recession in 2015-16, stresses need for reform implementation
In its latest economic forecasts published on Monday, OECD revised downward its GDP estimates on Greece and is now expecting a recession of 1.4 percent in 2015 and 1.2 percent in 2016.
NBG reports net losses of 401 mln in Q3, NPL formation accelerates in Greece
National Bank (NBG) released its third-quarter (Q3) financial results on Monday, which showed net losses eased to 401 million euros from 1.61 billion in Q2.
Greek banks' equity raising could keep official support to a minimum
Following the disclosure of Greek banks’ capital shortfall by the ECB’s Single Supervisory Mechanism (SSM) on October 31, Greek banks submitted their capital action plans to the SSM last week to cover the emerging capital needs.
Strong start for Greek stocks but they end week down 3.4 pct
Despite a strong rebound on Monday, the Greek equity market traded on negative ground in the following sessions, ending the week down 3.4 percent.
Trade deficit falls by markedly accelerating pace of 24.2 pct in Sept
The drop in Greece’s trade deficit accelerated to 24.2 percent in September from 8.8 percent in August, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Greece passes latest omnibus bill, looks to next actions ahead
The omnibus bill with the second set of prior actions required for the disbursement of the next sub-tranche of 2 billion euros was voted through the Greek Parliament on Thursday evening.
EC sees milder Greek recession in 2015, debt ratio to climb to 200 pct in 2016
In its autumn economic forecasts published on Thursday, the European Commission (EC) revised its estimates on the Greek economy to take into account the uncertainty surrounding the bank holiday and the imposition of capital controls in late June.
Coalition in rush to wrap up pending bailout issues
Ahead of Monday’s Eurogroup, the Greek government seems willing to accelerate its efforts to close some key pending issues that could unlock the disbursement of the next sub-tranche of 2 billion.