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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
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.
Against this backdrop, the rating agency expects banks to book high credit losses in 2016 and 2017, despite the large loan provisions of the last five years. In addition, low interest rates, the high stock of non-performing loans (NPLs) and funding imba...
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