Economy
Credit contracts at slower pace of 1.7 pct in June, monthly loan flow positive
Greek bank credit contracted at a decelerating pace for the third successive month by 1.7 percent in June from 2.1 percent in May, according to the Bank of Greece (BoG). The June headline rate indicates the slowest decline since August 2011.
June deposit outflow rises to 7.58 bln as total balance drops to lowest in 12 years
Greek private sector deposit outflows accelerated to 7.58 billion euros in June from 3.86 billion in May, according to the Bank of Greece (BoG).
Fitch puts Greek banks' capital needs between 11.2 and 15.9 bln
A report by Fitch ratings agency estimates the 25 billion earmarked in the Euro Summit statement of July 12 for Greek bank recapitalisation should be sufficient unless deferred tax assets (DTA) cease to be counted as core capital.
IOBE think-tank sees recession of up to 2.5 pct this year, milder in 2016
Greece is expected to experience a significant recession this year and a milder one next year, while unemployment may edge up this year, according to the latest report on the Greek economy published Foundation for Economic and Industrial Research (IOBE).
Primary surplus 3.1 bln above target in H1 on severe underspend
Greece’s budget primary surplus widened to 1.88 billion euros in the first six months of 2015 from 1.51 billion in the five-month period, according to the Finance Ministry (MoF) final budget bulletin published on Thursday.
Disposable income up by 2.6 pct in Q1 for highest reading since 2009
Greek household disposable income rose for the third successive quarter in Q1 of 2015, when it increased by 2.6 percent, which is faster than the 1.4 percent rise posted in Q4 2014, according to the Hellenic Statistical Authority (ELSTAT).
Travel receipts up 17 pct in May as average expenditure per trip rebounds
Greece's travel receipts continued heading north at a double-digit rate in May, when they rose by 17 percent in May from 16.3 percent in April, according to the Bank of Greece (BoG).
What the latest set of prior actions mean for home foreclosures
The second draft bill containing prior actions requested by Greece’s lenders is due to be voted on in the Greek Parliament late on Wednesday.
S&P raises Greece’s rating by two notches in first upgrade since Sept 2014
Standard & Poor's raised Greece’s long-term rating by two notches from ‘CCC-‘ to ‘CCC+’ with a stable outlook on Tuesday.
Current account surplus at 407 mln in May - first positive balance since Sept 2014
Greece's current account (C/A) balance showed a surplus of 407 million in May from deficit of 299 million last year, according to the Bank of Greece (BoG).