Economy
Eurozone sets out proposals for staggered debt relief for Greece
The Greek government was encouraged by the public references to debt relief following Monday’s Eurogroup in Brussels, although it was made clear that no real steps should be expected before the next gathering of eurozone finance ministers on May 24 and that any interventions would be spread over time.
Outline of fiscal mechanism for automatic cuts emerges after Eurogroup
The outline of the mechanism that will trigger automatic fiscal interventions to ensure Greece’s programme is on track has emerged following Monday’s Eurogroup in Brussels.
Car sales soar 24.5 pct in April
The number of road motor vehicles going into circulation for the first time surged by 24.5 percent in April after a rise by 2.4 percent in March, Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday.
Trade deficit shrinks by sizable 23.7 pct in March
Greece’s trade deficit fell sharply by 23.7 percent in March after a 14.3 percent rise in February, the Hellenic Statistical Authority (ELSTAT) said on Tuesday.
Industrial production falls at faster pace of 4 pct in March
Greece’s Industrial Production Index (IPI) dropped at a faster pace of 4 percent in March from a revised 2.5 percent drop in February, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Decline in CPI slows slightly to 1.3 pct in April
Τhe Greek Consumer Price Index (CPI) dropped at the slightly slower rate of 1.3 percent in April from a 1.5 percent decline in March, according to Hellenic Statistical Authority (ELSTAT) data published on Tuesday.
General gov't primary cash surplus widens to 3.2 bln in March, arrears jump to 6.7 bln
Greece’s general government (gg) primary cash surplus almost tripled to 3.22 billion euros in the first quarter (Q1) of 2016 from 1.1 billion in the corresponding period last year, the Finance Ministry (MoF) gg bulletin showed on Monday.
Gov't lowers tax-free threshold, prepares for third pillar of measures worth 1 pct of GDP
The bill on pension and income tax reforms voted by all 153 coalition MPs on Sunday evening included a couple of amendments to the initial draft bill tabled in Parliament on April 19.
Greek stocks climb 3.8 pct during week amid increasing optimism on swift agreement
The Greek stock market climbed 3.8 percent this week amid improving sentiment an agreement between Greece and its lenders could be reached soon. The strong rebound was also accompanied with increased trading activity.
Negotiations between Greece and lenders: state of play ahead of Eurogroup meeting
The extraordinary Eurogroup on Monday is due to discuss the state of play of the programme review as well as the sustainability of Greece’s debt. The thorniest issue at the moment appears to be the contingency measures worth 2 percent of GDP the IMF is insisting they have to be detailed and legislated before the conclusion of the review.