Economy
Eurosystem funding falls by 1.16 bln in Dec, banknotes increase for fifth month
Greek banks’ Eurosystem funding declined by 1.16 billion euros month-on-month (MoM) in December, the Bank of Greece's (BoG) final financial statement for 2018 has revealed.
Athens aims to wrap up legislation on foreclosures and issue 10-year bond
Following further discussions between the Greek government and the institutions over the weekend, Athens is hoping to submit to Parliament in the coming days the draft legislation protecting primary residences from foreclosure.
Moody's raises Greece two notches to 'B1' but highlights challenges for further upgrades
Moody’s upgraded Greece’s credit rating by two notches on Friday, taking it to ‘B1’, from ‘B3’ previously, with a stable outlook, from positive.
Hellenic Petroleum sales rise but adjusted net profits slump by 20 pct
Greece’s largest oil refinery, Hellenic Petroleum’s annual results for 2018 showed that net sales rose by 22 percent across the year.
PMI at 54.2 in Feb as new clients and overseas orders spur growth
Greece’s manufacturing PMI increased to 54.2 points in February from 53.7 points in January, staying over the 50-mark threshold for close to two years.
EC sets out improvements Athens should make to primary residence proposal
Among the areas of concern highlighted in the European Commission’s second post-programme surveillance report are the household insolvency law and debtor protection schemes, which are examined in the context of the overall financial system stability and the ongoing efforts to reduce the stock of Non-Performing Exposures (NPEs) from the systemic banks.
Retail turnover rises by 0.5 pct in Dec, with 2018 average increase at 2.1 pct
Greece’s retail sales index edged up by 0.5 percent in December following a downward revised increase of 3.7 percent in November, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
EC report notes economic imbalances and outlines remedies
The European Commission’s country report on Greece for 2019 has highlighted a number of imbalances in the country’s economy and outlined ways in which these can be addressed.
Credit contraction at 1.1 pct in Jan, balance at 169.42 bln
Credit contraction in the Greek market came to 1.1 percent in January, unchanged from December, Bank of Greece (BoG) figures showed on Wednesday.
Brussels highlights lagging reforms ahead of decision on debt relief measures
The European Commission issued on Wednesday the second review in the content of enhanced post programme surveillance of Greece.