Economy
Delays in concluding programme review are credit negative for Greece, says Moody’s
In its latest comment on Greece included in the weekly credit outlook of May 2, Moody’s notes that the delays in the country’s bailout programme review are credit negative since they increase the risk of a liquidity squeeze and prevent any discussion on debt relief.
Greek stocks fall 3.7 pct during week on inconclusive discussions with lenders
The Greek stock market shed 3.7 percent this week in the aftermath of the inconclusive discussions of Greek government and the mission chiefs on the first programme review and the postponement of the Eurogroup that was initially due on Thursday.
Economic sentiment edges up to to 90.3 in April, consumer confidence falls for fourth month
Greece’s economic sentiment (ESI) rose for the second straight month in April, albeit by just 0.2 points to 90.3, according to European Commission (EC) data published on Thursday.
Retail sales down 7.3 pct in Feb for highest drop since July 2015
The turnover of Greece’s retail trade index fell at the notably faster pace of 7.3 percent in February from a revised 3.5 percent drop in January, Hellenic Statistical Agency (ELSTAT) figures showed on Thursday.
Piraeus first Greek bank to repay Pillar II bonds, others to follow
Piraeus Bank said on Thursday that its remaining Pillar II bonds will be redeemed on Friday, which will make it the first Greek bank with zero reliance on any of the three pillars of the capital and liquidity support programme (Law 3723/2008) that was initiated in 2008.
Credit contraction slows to 2.1 pct in March, loan deductions fall to 146 mln
Greek bank credit contraction decelerated to 2.1 percent in March after a short-lived acceleration to 2.3 percent in February, Bank of Greece (BoG) figures showed on Wednesday.
Marginal deposit inflows of 55 mln in March
Greek private sector deposits recorded marginal inflows of 55 million euros in March from outflows of 548 million in February, Bank of Greece (BoG) data displayed on Wednesday.
Compromise emerges on liberalisation of NPL market
Beyond the convergence between Greece and its lenders on the basic package of austerity measures worth 3 percent of GDP, the government and the institutions appear to have clinched an agreement on the sale of non-performing loan (NPLs).
Parliament's budget office highlights economic challenges beyond bailout
The economic challenges that Greece faces should it conclude the first bailout review with the institutions are outlined in the latest quarterly report of the Parliamentary Budget Office (PBO).
Rise in new tax arrears slows to 881 mln in March, total stock edges up to 87.5 bln
Greece’s new unpaid taxes rose again March but at a slower pace of 881 million euros compared to 1.3 billion euros in February, according to General Secretariat of Information Systems (GSIS) data published on Tuesday.