Economy
Sharp drop of 4.2 pct in Greek industrial turnover in May
The drop in Greece’s Turnover Index in Industry accelerated to 4.2 percent in May from a revised 0.8 percent decline in April, according to the Hellenic Statistical Authority (ELSTAT).
Unpaid taxes edge up by 656 mln in June for slowest monthly rise in 2015
Greece’s new unpaid taxes increased by 656 million euros in June compared to 1.03 billion in May, according to data released by the General Secretariat of Information Systems (GSIS).
What's likely to be in the next multi-bill of prior actions Greek MPs will vote on
Following the vote of the first set of prior actions demanded by Greece’s lenders last Wednesday, the government is preparing a second bill with the remaining measures set out in the Euro summit statement on July 12.
Bank holiday to end but capital controls remain and some transactions forbidden
The Finance Ministry issued a legislative decree on Saturday afternoon ending the bank holiday as of July 20. However, capital controls will be maintained, while several banking activities remain restricted or forbidden.
Eurobank acquires Alpha network in Bulgaria, kicking off round of consolidation abroad
In a joint statement released by Alpha and Eurobank on Friday evening, the two banks announced the acquisition of Alpha’s branch network in Bulgaria by Eurobank’s subsidiary in Bulgaria, Postbank.
What this week's VAT changes mean for household budgets and public coffers
The first draft bill with prior actions that was voted in the Greek parliament early on Thursday included a large reshuffling of VAT rates.
ECB increases ELA limit for Greek banks in first positive signal since referendum
During a regular press conference on Thursday, European Central Bank President Mario Draghi announced the lender's governing council decided to approve a Bank of Greece (BoG) request to increase the Emergency Liquidity Assistance (ELA) limit for Greek banks by 900 million euro for one week.
Cash primary surplus reaches 1.3 bln at end of June on lower expenditure
Greece’s central government primary cash surplus eased by 4.6 percent to to 1.3 billion euros in the first half of 2015 from 1.37 billion last year, according to the Bank of Greece (BoG).
EU makes dramatic revision to economic forecasts, sees recession of 2-4 pct this year
The European Commission (EC) published on Wednesday its assessment following the official Greek request for a 3-year loan from the European Stability Mechanism (ESM).
Credit standards tougher in Q2, expected to tighten further
Credit standards for corporate loans tightened quarter on quarter (QoQ), according to the Bank of Greece (BoG) bank lending survey (BLS) for the second quarter (Q2) of 2015.