Economy
Stournaras presents debt relief plan with maximum benefits for Greece, minimum cost for lenders
During a speech at the Delphi Economic Forum on Saturday, Bank of Greece (BoG) governor Yannis Stournaras presented the outcome of an exercise conducted by the central bank showing that mild debt relief in the form of smoothing interest payment for EFSF loans coupled with a primary surplus of 2 percent of GDP as of 2021 is consistent with Greece’s debt sustainability.
Greece, lenders fail to make headway on fiscal and labour issues
Despite two meetings over the weekend on fiscal and labour market issues, the Greek government and the institutions’ mission chiefs were unable to bridge their differences, creating more doubts about when an agreement may be reached.
Stocks rebound by 0.7 pct for third straight week amid light trading activity
The Greek stock market edged up 0.7 percent for the third successive week following the return of the institutions’ mission chiefs to Athens and resumption of discussions with the Greek authorities about the second programme review. However, the trading volumes remained soft.
Stable deposit rate in Jan, slight uptick in loan rate
The new time deposit rate for Greek households fell by 1 basis point (bp) for the second straight month and landed at 0.69 percent in January, Bank of Greece (BoG) figures showed on Friday.
OTE posts first revenue increase in 9 years
The Hellenic Telecommunications Organisation’s (OTE Group) full year 2016 results show that year on year growth remained stable after nine years of contraction.
Review talks focus on out-of-court workout, jobs scheme and energy market
The third day of discussions between the institutions’ mission chiefs and the Greek authorities included two meetings that focused on the out-of-court workout and active employment policies.
Greece and creditors dive into details of measures and counter-measures
The second day of negotiations between the Greek government and the institutions’ mission chiefs included a lengthy (4-hour) meeting on the measures and counter-measures that will be legislated now and implemented until 2020.
Eurosystem funding drops at sharper pace of 3.6 bln in Jan
Greek banks’ Eurosystem funding fell at an accelerating pace of 3.61 billion euros in January after a drop of 1.87 billion in December, the Bank of Greece's (BoG) monthly financial statement showed on Wednesday.
PMI rebounds to 47.7 in Feb but shows deterioration for sixth straight month
Greece’s Manufacturing PMI improved by 1.1 points to 47.7 in February, after falling to a 16-month low of 46.6 in January, Markit’s survey showed on Wednesday.
Jumbo sees 12 percent profit rise in H1 2016
Greek household retail giant Jumbo has released its H1 results, showing that net profit increased by 12 percent in the first half of the current fiscal year, rising from 72.5 million euros in the same period last year to 81.4 million euros.