Economy
Athens accepts review's toughest fronts remain open
One day after a Bloomberg report cited a memo discussed at the last Eurogroup, which noted that almost two thirds of the second programme review prior actions have yet to be completed, the Greek government gave its own view on the state of play in the review process on Tuesday evening.
New overdue taxes jump by 1.3 bln in Dec, total stock climbs to 54 pct of GDP
Greece’s new tax debt exceeded the 1-billion mark in December as it climbed to 1.28 billion euros after a smaller increase of 890 million in November, General Secretariat of Public Revenues (GSPR) data revealed on Monday.
Economic sentiment stays stable at 95.1 in Jan, consumer confidence dives 3.4 pts
Greece’s economic sentiment (ESI) remained at 95.1 in January, unchanged from the previous month, the European Commission (EC) figures revealed on Monday.
Retail sales rise at an accelerating pace of 1.8 pct in Nov
The turnover of Greece’s retail trade index increased at the higher pace of 1.8 percent in November, from an upward revised 1.4 percent growth in October, Hellenic Statistical Agency (ELSTAT) data displayed on Monday.
PBO warns of recovery risks, fourth bailout and possible default
In its quarterly report published on Friday, the Parliamentary Budget Office (PBO) urged for a swift conclusion of the programme review and implementation of the necessary reforms, which could lead to a sustainable economic recovery.
Stocks down 0.4 pct this week after tumbling in wake of Eurogroup
The Greek equity market showed two sides this week. Initial prospects for a positive outcome at Thursday’s Eurogroup pushed shares up by 3.4 percent in the first four sessions.
Credit contraction accelerates to 1.5 pct in Dec, net lending flow remains subdued
The rate of credit contraction in the Greek market accelerated to 1.5 percent in December after slowing to 1.3 percent in the previous month, Bank of Greece (BoG) figures displayed on Friday.
Positive deposit flow of 2.8 bln in Dec leads 2016 inflows to 4.2 bln
The Greek market posted notable inflows of 2.8 billion euros in December from a marginal positive flow of 12 million in the previous month, Bank of Greece (BoG) figures revealed on Friday.
IMF's outlook on debt unsustainability adds to doubts after inconclusive Eurogroup
The Greek government attempted to put a positive spin on Thursday’s Eurogroup even though it seems to have come under strong pressure to adopt the fiscal measures demanded by the International Monetary Fund in advance and emerged from the Brussels meeting without any clear indication of when or under what terms the institutions will return to Athens.
Eurogroup sheds little light on how Greek review will progress
Thursday’s Eurogroup yielded little in way of tangible results for the Greek programme, apart from a clear insistence on the side of the European lenders that the International Monetary Fund should remain fully involved in the bailout.