Economy
Audit launched as Folli Follie's glittering performance scrutinised
The Hellenic Capital Market Commission (HCMC) is launching an audit on Folli Follie Group after stocks from the Greek jewellery and fashion accessory designer and retailer closed 30 percent down on their opening price on Friday following allegations by an equity fund about the company’s accounting accuracy.
Athens and creditors place immediate focus on remaining key deliverables
The drama-free announcement of the bank stress test results on Saturday cleared the way for Greece and the institutions to focus on the completion of the fourth review in the coming weeks.
Bank stress tests find no capital needs, clearing path for MoU exit
The European Central Bank’s (ECB) Banking Supervision announced on Saturday the results of the 2018 stress tests for Greece’s four systemic banks following the same methodology and approach as the EU-wide EBA exercise.
Tsakalotos eyes conclusion of review and debt talks, will not dispute pension cuts
The Greek government remains confident about concluding the fourth review on time and does not intend to attempt to argue with its creditors that the pension cuts lined up for next year should be postponed.
General govt primary cash surplus at 2.58 bln in March as revenues rise
Greece’s general government (gg) primary cash surplus amounted to 2.58 billion in the first three months of 2018, up 519 million euros compared to the same time last year, according to the Finance Ministry’s monthly gg bulletin.
EC forecast acknowledges pressure on Greek households, revises down growth
The European Commission (EC) had to revise its growth estimates for Greece in its Spring 2018 forecasts and is now expecting the country to grow this year by 1.9 percent, from 2.5 percent previously.
Mytilineos Group posts 10.3 pct rise in Q1 net profits
The industrial conglomerate Mytilineos S.A’s first quarter (Q1) results show that turnover rose by 10 percent in the first three months of the year.
OECD report outlines steps to reduce burgeoning poverty rate in Greece
In its latest survey on Greece that the Organisation of Economic Co-operation and Development (OECD) published on Greece earlier in the week, the Paris-based think tank dedicates a section on lowering poverty and protecting households that through the loss of jobs and wage cuts have been severely affected by the crisis, leading to a significant surge in poverty rates.
Greece’s unstable and confusing tax system failing to deliver results
A report by the diaNeOsis research and policy institute has painted a troubling picture of Greece’s taxation system as the country nears it programme exit.
Is the cost of Greece's public sector soaring again?
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As Greece approaches the end of its bailout programme, claims are emerging that the SYRIZA-ANEL government has been on a public sector hiring spree at the expense of already over-burdened taxpayers, while seeking to entrench itself in the state through political appointments.