Economy
Banks meet NPE targets in Q1 but mortgage reductions remain slow
Greek banks succeeded in meeting their non-performing exposure (NPE) reduction target in the first quarter (Q1) of 2018 according to the seventh quarterly report on operational targets for NPEs published by the Bank of Greece (BoG) on Wednesday afternoon.
The first cut is the deepest? Greek pension reforms in context
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It is 5:59am on a Sunday morning. The host of the morning talk show, a man of near-pensionable age – a look he has affected for well over a decade – adopts an alarmed look. The caption screams “NEW PENSIONS MASSACRE”. Projected on the backdrop, a dense table of numbers several columns wide defies legibility, and several talking heads are lined up in a panel to argue vociferously and incoherently over how badly pensioners can expect to suffer from the latest spending cuts.
Fiscal Council endorses fiscal and macro assumptions but warns of potential obstacles
The Greek Finance Ministry is due to table to Parliament on Friday the multi-bill that will wrap up its obligations for the conclusion of the final programme review, along with the updated Medium-Term Fiscal Strategy (MTFS) for the period between 2019 and 2022.
Multi-bill and MTFS heading to Parliament for conclusion of fourth review
The multi-bill containing the legislation that aims to wrap up the remaining prior actions is due to be submitted to Parliament on Friday along with the 2019-2022 Medium-Term Fiscal Strategy (MTFS) as Greece moves a step closer to completing the fourth review.
ADMIE Holdings posts income of 15.8 mln, affiliate's profits at 31.2 mln in Q1
ADMIE Holding SA reported its results for the first quarter (Q1) which showed that total income from its affiliate the Independent Power Transmission Operator (IPTO SA) reached 15.9 million.
Sarantis Group sales rise by 6.2 pct in Q1
Consumer product producer and retailer Sarantis Group’s first quarter (Q1) results show that sales improved by 6.2 percent during the period.
General govt primary cash surplus at 2.42 bln in April, arrears fall by 66 million
Greece’s general government (gg) primary cash surplus amounted to 2.42 billion in the first four months of 2018, down by 227 million euros compared to the same time last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
More debt talks lined up but chances of IMF departure growing
Following an unsuccessful attempt to reach a compromise on Greece’s debt relief package over the weekend, the country’s lenders are due to make another effort to find common ground on Thursday.
GDP up by 2.3 pct year-on-year in Q1 on strong export growth
Greece’s seasonally adjusted (SA) GDP grew by 0.8 percent quarter-on-quarter (QoQ) in the first quarter (Q1) of 2018, after an upwardly revised increase of 0.2 percent in the previous quarter,ELSTAT's provisional estimates revealed on Monday.
Key debt relief talks fail to result in deal, leaving IMF role in doubt
A meeting of Greece’s key lenders on Saturday failed to result in an agreement on the debt relief package that is due to be tabled at the June 21 Eurogroup, leaving diminishing chances of the International Monetary Fund being involved in anything more than a technical capacity in the future.