Economy
What lies at the heart of differences over Greek banks' capital needs?
Following a meeting last week between Bank of Greece (BoG) senior officials with the top management of the four Greek systemic banks (Alpha, Eurobank, National and Piraeus), where the central bank reportedly informed lenders that their capital needs amount to around 5 billion euros, a Financial Times report published on Monday puts things in a completely different perspective.
Where Greek banks stand ahead of capital needs disclosure
Senior officials from the Bank of Greece (BoG) met on Thursday with the top management of the four Greek systemic banks (Alpha, Eurobank, National and Piraeus) and informed them about the outcome of the Blackrock loan diagnostic and their individual capital needs.
C/A surplus of 0.7 pct of GDP in 2013 is Greece's first for decades
Greece posted a current account (C/A) surplus of 1.24 billion euros (0.7 percent of GDP) in 2013 for first time in decades, following a deficit of 4.62 billion in 2012 (2.4 percent of GDP), according to the Bank of Greece (BoG).
Industrial turnover and new orders indices post big drops for December
The Turnover Index in Industry fell 11.8 percent in December, while the New Orders Index in Industry dropped 7.5 percent, according to the Hellenic Statistical Authority (ELSTAT).
Central gov't cash surplus rises by 53.8 pct to 603 mln in January
Greece’s central government net balance on a cash basis showed the surplus widening by 53.8 percent to 603 million euros in January from 392 million last year, according to the Bank of Greece (BoG).
Greek Q4 GDP down 2.6 pct, shrinks 3.7 pct in 2013 - better than troika estimates
Greek non-seasonally-adjusted GDP contracted 2.6 percent in the fourth quarter of 2013, further decelerating from the 3 percent drop posted in the third quarter, according to flash estimates published by the Hellenic Statistical Authority (ELSTAT) on Friday.
Greek deflation slows to 1.5 pct in January
The drop in Greece’s Consumer Price Index (CPI) slowed to 1.5 percent in January from 1.7 percent in December, according to the Hellenic Statistical Authority (ELSTAT).
Unemployment at new high of 28 pct in Nov, jobless up by 169 pct in four years
The seasonally adjusted jobless rate continued heading north, reaching 28 percent in November from a downwards revised 27.7 percent the previous month, according to the Hellenic Statistical Agency (ELSTAT). The November rate now holds the new high.
Building activity up by 36.2 pct in Nov as rebound continues
Greek building activity (as measured by the number of building permits) soared 36.2 percent year-on-year (yoy) in November posting a positive growth for the second straight month, according to the Hellenic Statistical Authority (ELSTAT).
Despite payment of some arrears, total reached 4.6 bln at end of 2013
The Greek general government (gg) cash deficit narrowed by 48 percent to 7.05 billion in 2013 with the gg cash primary surplus dropping by 36.4 percent to 450 million from 707 million in 2012, according to the bulletin released by the Ministry of Finance (MoF) on Tuesday.