Economy
Eurosystem funding for Greek banks eases by 2.18 bln in January
Following a brief rise in December, Greek banks’ Eurosystem funding resumed its downward trend in January easing by 2.18 billion euros, according to the Bank of Greece (BoG) monthly financial statement.
Bank of Greece publishes bank stress test results, which see capital needs at 6.4 bln
The Bank of Greece (BoG) released on Thursday the much anticipated report on Greek banks’ capital needs resulting from a follow-up stress test including the outcome of the new Blackrock loan diagnostic.
Greek jobless rate dips to 27.5 pct in Dec but inactive population growing
The seasonally adjusted jobless rate slightly eased to 27.5 percent in December from a downwards revised 27.6 percent the previous month, according to the Hellenic Statistical Agency (ELSTAT). The September rate of 27.8 percent now holds the new high.
Manufacturing PMI edges up for second month in a row
Greece’s Manufacturing PMI improved by 0.1 points for the fourth straight month in February reaching 51.3 points from 51.2 in January, according to Markit.
December fails to boost Greek retail sector: Sales fell by 6.7 pct
Greece’s retail trade index fell by 6.7 percent in December in terms of turnover and was down by 6.1 percent as far as volume is concerned, according to data published by the Hellenic Statistical Agency (ELSTAT) on Friday.
Greek deposits fell by 1.4 pct in January amid outflows of 2.3 bln
Greek private sector deposits fell 1.4 percent month on month (mom) in January with balances reaching 161.03 billion euros, according to the Bank of Greece (BoG).
Greek credit contracts by 4 pct in Jan, NPLs rise to 31.2 pct in Sept
The year on year (yoy) credit contraction in the Greek market marginally accelerated for the second straight month to 4 percent in January from 3.9 percent in December, with balances reaching 217.61 billion euros, according to the Bank of Greece (BoG).
Greece, the troika and banks' capital needs: A step-by-step guide
Troika officials are due to meet Bank of Greece (BoG) governor Giorgos Provopoulos on Wednesday as local lenders’ capital needs have shot to the top of the agenda in the current round of talks between Greece and its lenders.
EC sticks with 0.6 pct growth for Greece in 2014 but also sees C/A deficit
In its winter economic forecasts released on Tuesday, the European Commission (EC) notes that recent data support expectations that Greece should return to growth in 2014. Confidence indicators continue to improve, whilst hard data releases suggest the first signs of recovery.
Greek trade deficit narrowed 11 pct in 2013 but exports marginally negative
Greece’s trade deficit narrowed 2.1 percent to 1.4 billion euros in December, while the respective figure for 2013 fell 11 percent to 19.34 billion, according to the Hellenic Statistical Authority (ELSTAT).