Economy
Greece poised to build on investor sentiment with return to bond markets
The Greek government has emerged from this week’s Eurogroup and Ecofin with renewed confidence about the country’s economic prospects and buoyed enough to consider an imminent return to bond markets, possibly as early as next week.
Greek retail index dropped 4.3 pct in January
The turnover of Greece’s retail trade index fell by 4.3 percent in January and volume eased by 1.9 percent, according to data published by the Hellenic Statistical Agency (ELSTAT) on Friday.
Eurogroup clears next bailout tranches for Greece, sets new goals
As expected, the informal Eurogroup held in Athens on Tuesday approved the next European Financial Stability Facility (EFSF) instalment of 8.3 billion euros subject to the full implementation of prior actions and agreed milestones. The approval comes after the Greek Parliament narrowly approved the multi-bill on Sunday evening.
Manufacturing PMI moved back into contraction territory in March
Greece’s Manufacturing PMI slowed to 49.7 in March from 51.3 in February, falling back below the 50-point mark that separates growth from contraction, according to Markit.
Bank framework paves way for Eurobank capital increase, gives HFSF flexibility
Alpha and Piraeus banks successfully completed at the beginning of the week their capital increases of 1.2 and 1.75 billion respectively via private placements conducted through book-building processes with foreign investors.
Greek trade deficit narrowed 15.4 pct in January
Greece’s trade deficit narrowed 15.4 percent to 1.62 billion euros in January, according to the Hellenic Statistical Authority (ELSTAT).
Greek deposits down 0.3 pct in Feb, credit contraction stable
Greek private sector deposits fell 0.3 percent month on month (MoM) in February, with balances reaching 160.54 billion euros, according to the Bank of Greece (BoG).
EU funds and limited expenditure drive primary budget surplus to 2 bln in Feb
Greece’s budget execution showed a primary surplus of 2.06 billion euros to February, which is over four times higher than the 487 million posted in the corresponding period last year, according to the final data released by the Ministry of Finance (MoF) on Monday.
Better income account helps squeeze Greek C/A deficit in January
Greece's January current account (C/A) deficit narrowed moderately to 295 million euros from 314 million last year, according to the Bank of Greece (BoG).
Drop in Greek industry's turnover index slowed to 4.1 pct in Jan
The drop in Turnover Index in Industry decelerated to 4.1 percent in January from a double-digit decline in the preceding three months, according to the Hellenic Statistical Authority (ELSTAT). The headline figure continued heading south for the fifth straight month.