Economy
Greece, creditors seek progress at Eurogroup on key differences holding up review
Greece and its lenders head into Monday’s Eurogroup with differences on several key issues that will have to be resolved if the second review is to conclude in the days ahead.
Stocks edge down 0.6 pct as review talks continue
The Greek stock market edged down 0.6 percent this week with quite meagre trading activity largely due to the lack of meaningful progress in negotiations between Greece and its lenders.
Primary cash surplus almost halves to 1.1 bln in 2-month
Greece’s central government primary cash surplus fell to 1.11 billion euros in the 2-month period of 2017 from 2.09 billion a year ago, Bank of Greece (BoG) figures showed on Friday.
Global deal in April ruled out as labour reforms prove biggest obstacle
Speaking to Parliament’s Economic Affairs Committee, Finance Minister Euclid Tsakalotos said on Thursday that the agreement with the institutions would be difficult but would also have “positive surprises,” which could pave the way for QE from the European Central Bank and lead to sustained growth.
New overdue taxes rise by 1.6 bln in Jan, total stock at 93.4 bln
Greece’s new tax debt increased at an accelerating pace by 1.63 billion euros in January from 1.28 billion in December, data from the Independent Authority of Public Revenues (IAPR) revealed on Thursday.
Unemployment rate up to 23.6 pct in Q4, down to 23.5 for 2016
The Greek non-seasonally-adjusted unemployment rate increased to 23.6 percent in the fourth quarter (Q4) of 2016 from 22.6 percent in Q3, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Nouy voices concern about impact of uncertainty on banks, rebuffs capital concerns
In an interview with Skai TV on Wednesday, the head of the Single Supervisory Mechanism (SSM) Daniele Nouy confirmed that the first two months of the year were “a little bit disappointing” regarding both the deposit flow and the evolution of non-performing exposures (NPEs) of Greek banks.
Turnover indices in most service activities deteriorate in Q4
The majority of the turnover indices for the services sector recorded a drop in the fourth quarter (Q4) of 2016, after a rebound in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Wednesday.
Budget primary surplus of 2.1 bln in 2-month on large underspend in Feb
The budget primary balance posted a surplus of 2.12 billion euros in the 2-month period of 2017, 25.6 percent lower than the respective figure of 2.85 billion in the corresponding period last year, the Finance Ministry’s (MoF) preliminary budget execution bulletin revealed on Tuesday.
With tax-free threshold set for change, income declarations underline need for rethink
One of the key issues still to be resolved in the ongoing negotiations between the Greek government and the institutions relates to the International Monetary Fund’s demand for a reduction in the tax-free threshold with the aim of securing additional revenues of 1 percent of GDP (1.8 billion euros) as of 2019.