Economy
Greek banks brace for recapitalisation, with Piraeus initiating a bond swap offer
Following meetings held with the Single Supervisory Mechanism (SSM) of the ECB in Frankfurt on Wednesday and Thursday, media reports indicate that Greek bankers appear more optimistic on the final outcome of the ongoing assessment noting that capital needs could be manageable.
ELA funding drops by 1.58 bln in Sept for third straight fall
Greek banks’ Eurosystem funding slipped for the third straight month in September, when it fell by 1.58 billion euros, the Bank of Greece's (BoG) monthly financial statement showed on Thursday.
Budget execution slips in Sept as 3.08 bln primary surplus turns to underperformance
Greece’s budget execution showed a deterioration in September, with the primary balance recording a deficit of 719 million euros from a surplus up to 1.8 billion in the prior four months, the Finance Ministry's (MoF) preliminary figures showed on Thursday.
Committee of wise men proposes drastic changes to Greece's pension system
The findings of the committee of wise men established by the Labour Ministry to examine the current situation and propose a new plan for Greek pension system were presented on Thursday.
Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Changing its previous announcement to publish its second quarter (Q2) financial results on Wednesday, Piraeus Bank released today a trading update providing the evolution of the key balance and P&L items excluding loan provisions and profits.
Revised data shows economy shrank by higher rate of 21.4 pct from 2010 to 2014
The Hellenic Statistical Authority (ELSTAT) published on Tuesday its second estimate of Greece’s 2014 annual national accounts, while also revising 2010-2013 GDP figures downwards compared to those released last March.
General gov't primary cash surplus widens to 2.6 bln in Aug, arrears up by 2.15 bln
The general government (gg) primary cash surplus widened by 7.4 percent to 2.61 billion euros in the 8-month period of 2015 from 2.43 billion in the corresponding period last year, the Finance Ministry (MoF) gg bulletin showed on Tuesday.
Crumbling Greek pension system threatens big fiscal gap, budget derailment
Social security funds (SSFs) are the weakest link among the main general government (gg) entities, showing a significant deterioration in their fiscal performance in the course of 2015 and creating a looming challenge for the coalition.
Major fall of 31.6 pct for building activity in July
Greek building permits nosedived by 31.6 percent in July, after rising in the previous five months, Hellenic Statistical Authority (ELSTAT) data displayed on Monday.
Omnibus bill goes to Parliament as Greece seeks to unlock 2 bln sub-tranche
The Finance Ministry published for public consultation on Saturday evening the omnibus bill including the prior actions needed for the disbursement of the next sub-tranche of 2 billion.