Economy
S&P raises Greece’s rating by two notches in first upgrade since Sept 2014
Standard & Poor's raised Greece’s long-term rating by two notches from ‘CCC-‘ to ‘CCC+’ with a stable outlook on Tuesday.
Current account surplus at 407 mln in May - first positive balance since Sept 2014
Greece's current account (C/A) balance showed a surplus of 407 million in May from deficit of 299 million last year, according to the Bank of Greece (BoG).
Most Greek businesses feel capital controls impact, 69 pct see turnover drop
Endeavor Greece, the Greek subsidiary of the global non-profit organization, has published a survey showing the impact that capital controls, imposed on June 29, have had on local businesses.
ELA funding up by 9.2 bln in June, banknotes in circulation reach all-time high
Greek banks’ Eurosystem funding rose by 10.17 billion euros in June after increasing by 3.56 billion in May, according to the Bank of Greece's (BoG) monthly financial statement published on Monday.
Sharp drop of 4.2 pct in Greek industrial turnover in May
The drop in Greece’s Turnover Index in Industry accelerated to 4.2 percent in May from a revised 0.8 percent decline in April, according to the Hellenic Statistical Authority (ELSTAT).
Unpaid taxes edge up by 656 mln in June for slowest monthly rise in 2015
Greece’s new unpaid taxes increased by 656 million euros in June compared to 1.03 billion in May, according to data released by the General Secretariat of Information Systems (GSIS).
What's likely to be in the next multi-bill of prior actions Greek MPs will vote on
Following the vote of the first set of prior actions demanded by Greece’s lenders last Wednesday, the government is preparing a second bill with the remaining measures set out in the Euro summit statement on July 12.
Bank holiday to end but capital controls remain and some transactions forbidden
The Finance Ministry issued a legislative decree on Saturday afternoon ending the bank holiday as of July 20. However, capital controls will be maintained, while several banking activities remain restricted or forbidden.
Eurobank acquires Alpha network in Bulgaria, kicking off round of consolidation abroad
In a joint statement released by Alpha and Eurobank on Friday evening, the two banks announced the acquisition of Alpha’s branch network in Bulgaria by Eurobank’s subsidiary in Bulgaria, Postbank.
What this week's VAT changes mean for household budgets and public coffers
The first draft bill with prior actions that was voted in the Greek parliament early on Thursday included a large reshuffling of VAT rates.