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Low-productivity economy a legacy of adjustment without transformation
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BoG cautiously optimistic on economy and banking sector
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S&P leaves Greece's 'BBB' rating unchanged, hints at slower pace of upgrades
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Housing costs, food prices set limits to impact of tax cuts
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Moody's keeps rating unchanged at 'Baa3' - outlook stable
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Underspend and taxes push primary balance up to Aug 3.77 bln above target
Greek stocks plunge 7.9 pct, banks tumble 24.3 pct
![Photo by Can Esenbel [http://www.mundanepleasure.com/]](resources/toolip/img-thumb/2013/10/16/stocks2_economy_esenbel-large.jpg "Photo by Can Esenbel [http://www.mundanepleasure.com/]")
Following a nosedive by 8.9 percent last week, the Greek stock market tumbled a further 7.9 percent on Monday amid turmoil in the European markets on global growth prospects and increased domestic risks.
Greek shares continue to be heavily hampered by the lack of progress in discussions with the institutions on the first programme review and a stalemate in the pension reform discussions.
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