Economy
Commission slashes 2015 Greek growth forecast to 0.5 pct, sees debt rising
In its spring economic forecasts the European Commission (EC) focusses on the failure of the Greek recovery to pick up amid high political uncertainty and tighter financing conditions, which are also weighing on public finances.
Manufacturing PMI drops to 46.5 in April, lowest reading since June 2013
Greece’s manufacturing PMI fell markedly in April, when it dropped by 2.4 points to 46.5 from 48.9 in March, according to Markit.
Market value of HFSF's bank holdings plummets by 11 bln in 2014
The Hellenic Financial Stability Fund (HFSF) reported extended losses of 9.92 billion euros last year from 9.61 billion in 2013, according to its 2014 annual report.
Court ruling on pension cuts could create new problem in talks, fiscal plans
As the government struggles to find common ground with lenders over this year’s fiscal targets, a legal issue concerning pension cuts threatens to derail spending plans.
Retail turnover falls by 3.3 pct in Feb, down for fourth straight month
The turnover of Greece’s retail trade index dropped for the fourth straight month in February, when it fell by 3.3 percent in February from an upward revised 1.8 percent decrease in January, according to the Hellenic Statistical Agency (ELSTAT).
Moody's downgrades Greek bond rating, sees chances of accident rising
Moody’s downgraded late on Wednesday Greece’s government bond rating by one notch to Caa2 from Caa1, concluding the review for downgrade that commenced on February 6. At the same time the outlook on the rating is negative.
Parliament Budget Office sees Greece heading for recession on back of uncertainty
The Parliamentary Budget Office (PBO) has highlighted in its quarterly report the dangers for the Greek economy being cause by the current uncertainty.
Greek bank credit contracts by 2.5 pct in March
Greek bank credit contracted by 2.5 percent in March - similar to the reduction in February - according to the Bank of Greece (BoG).
Deposit outflow slows to 2.19 bln in Mar as balances slip to lowest in 10 yrs
Greek private sector deposit outflows slowed to 2.19 billion in March from 7.63 billion in February, according to the Bank of Greece (BoG).
Big falls for economic sentiment and consumer confidence in April
Greece’s economic sentiment (ESI) contracted by 4.1 points to 92.7 in April from 96.8 in March, according to the European Commission.