Economy
Gov't unveils bill to overhaul pension system, increase income tax revenues
One of the main interventions that the reform bill introduces is that all main pension funds are consolidated into the new National Security Body with a unified methodology applied for the calculation of social security contributions as of 2017, as well as for granting pensions as of 2016.
Industrial turnover dives 15.1 pct in Feb on sharp drop in energy turnover
Greece’s Turnover Index in Industry sank by 15.1 percent in February, from an upward revised 13.8 percent drop in January, Hellenic Statistical Authority (ELSTAT) figures displayed on Tuesday.
Bailout talks resume with key issues pending and contingency measures emerging
The International Monetary Fund spring meetings and the discussions of Greek authorities with eurozone and IMF top officials on the sidelines did not yield any meaningful results apart from a proposal apparently made by the institutions for contingent measures of up to 2 percent of GDP (3.6 billion euros) to bridge the difference between the IMF and the eurozone partners on the fiscal gap to 2018.
Banks’ EFSF bonds QE eligible but with little impact on liquidity
A European Stability Mechanism (ESM) spokesman confirmed on Friday that the restrictions on outright selling of EFSF bonds held by Greek banks have been lifted.
Banks lead Friday rebound to take Greek stocks up by 2.3 pct during week
The Greek equity market rebounded by 4.9 percent on Friday, leading to weekly gains of 2.3 percent as earlier losses were eclipsed.
Budget primary surplus of 2.68 bln in first quarter, but March trims outperformance
Greece’s budget primary surplus climbed to 2.68 billion in the first quarter of 2016 from 1.73 billion last year, the Finance Ministry (MoF) preliminary budget bulletin showed on Friday.
Eurosystem funding drops by another 2.8 bln to 101.4 bln in March
Greek banks’ Eurosystem funding fell for the ninth successive month in March at an accelerating pace of 2.78 billion euros after dropping by 1.86 billion in February, Bank of Greece's (BoG) monthly financial statement showed on Wednesday.
S&P highlights risks for Greek banking sector
Greek banks still face higher economic risks than most banking sectors globally, while the country’s economic prospects remain highly uncertain, S&P notes in its latest report on local lenders released on Wednesday evening.
IMF sees 0.6 pct primary deficit in 2015, lowers debt forecast below 180 pct
In its latest Fiscal Monitor report, the IMF refrained from providing its estimates on Greece’s public finances for 2016 onwards due to ongoing negotiations with the Greek government and the European partners.
Greek tax wedge remained far above OECD average in 2015
The tax wedge in Greece remained well above the OECD average in 2015, according to the OECD Taxing Wages 2016 report released on Tuesday.