Economy
Agreement on third bailout with revised fiscal and macro targets, host of prior actions
Following an all-night meeting with the quartet of Greece’s lenders, the Greek Finance Minister Euclid Tsakalotos and Economy Minister Giorgos Stathakis said on Tuesday morning that discussions had been successfully concluded, apart from a couple of details relating to prior actions remain to be settled.
ELA funding down by 1.48 bln in July for first monthly drop since May 2014
Greek banks’ Eurosystem funding fell by 1.29 billion euros in July after rising by 10.17 billion in June, according to the Bank of Greece's (BoG) monthly financial statement published on Monday.
Capital controls take toll on car sales, which fell 23.9 pct in July for first time in two years
The number of road motor vehicles going into circulation for the first time fell by 23.9 percent in July after rising by 21.7 percent in June, according to the Hellenic Statistical Authority (ELSTAT).
Greece and lenders appear close to third bailout deal, with few issues outstanding
After lengthy meetings between the Greek Finance Minister Euclid Tsakalotos and Economy Minister Giorgos Stathakis with the quartet of Greece’s lenders in Athens over the weekend, there is an increased optimism that an agreement for a new 3-year bailout programme could be clinched by Tuesday.
Industrial production down by 4.5 pct in June for third monthly drop this year
The Greek Industrial Production Index (IPI) fell for the second straight month in June, when it was down by 4.5 percent from 4.3 percent in May, according to the Hellenic Statistical Authority (ELSTAT).
Greek stocks down 15.2 in first week of trading after market closure
The reopening of the Athens Stock Exchange on Monday after a 5-week closure due to the capital controls was accompanied by a sell off exceeding 16 percent on the first trading session.
Trade deficit shrinks by 14.1 pct in June as fall in imports outpaces export decline
Greece’s trade deficit fell for the second successive month in June, when it declined by 14.1 percent from 24.2 percent in May, according to the Hellenic Statistical Authority (ELSTAT).
CPI falls by another 2.2 pct in July as VAT rises yet to be recorded
The rate of drop in the Greek consumer price index (CPI) remained at 2.2 percent for the second straight month in July, according to the Hellenic Statistical Authority (ELSTAT).
Bank recap and NPL management create conundrum in bailout talks
Two bank-related themes, namely the recapitalisation process and the management of non-performing loans (NPLs), are among the key unresolved issues in the ongoing discussions between Greek authorities and the institutions.
General gov't primary cash surplus shrinks in first half of 2015 as state arrears grow
The general government (gg) primary cash surplus contracted by more than 1.6 billion euros to 238 million in the first half of 2015 from 1.85 billion last year, according the gg bulletin published by the Ministry of Finance (MoF) on Thursday.