Economy
Progress in bailout talks but foreclosures and NPL management stand in way of agreement
After lengthy discussions over the weekend, the key issues remaining unresolved in the negotiations of Greek authorities with the quadriga mission chiefs are foreclosures and management of bad loans (NPLs).
Fitch affirms Greece’s rating, projects GDP to contract 0.3 pct in 2015
Fitch affirmed on Friday evening Greece’s rating at ‘CCC’, where it had been upgraded by one notch on August 18.
Greek stocks on slide for third straight week
The Greek stock market headed south for the third straight week, shedding 3.7 percent mainly due to a strong underperformance from banks, while volumes were subdued.
Greek economy surprises in Q3, eases by a marginal 0.5 pct
The Greek seasonally adjusted (SA) GDP at constant prices fell quarter on quarter (QoQ) by 0.5 percent in Q3 2015 following a downward revised 0.4 percent growth posted in Q2, the Hellenic Statistical Authority (ELSTAT) flash estimates displayed on Friday.
Marked improvement for budget execution in Oct, primary surplus outperformance extended
Following a deteriorated fiscal performance in September, Greece’s budget primary balance showed a surplus of 1.45 billion euros in October from deficit of 726 million in September, Finance Ministry (MoF) preliminary budget figures showed on Friday.
Building permits down 11.4 pct in August for second successive drop
Greek building permits dropped for the second successive month, yet at a slower pace by 11.4 percent in August from a 31.6 percent in July, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Unemployment down for second straight month in August, falls to 24.6 pct
Greece’s seasonally adjusted (SA) unemployment rate fell for the second straight month to 24.6 percent in August from a downward revised 24.9 percent in July, the Hellenic Statistical Agency (ELSTAT) labour force survey showed on Thursday.
Government in race against time to resolve bailout issues
Following the Eurogroup decision on Monday to decouple the disbursement of the 10 billion for bank recapitalisation from the implementation of the second list of prior actions or the completion of the first programme review, the government aims to close current pending issues by early next week.
General government primary cash surplus narrows to 2.48 bln, arrears almost stable in Sept
The general government (gg) primary cash surplus narrowed by 20.7 percent to 2.48 billion in the 9-month period of 2015 from 3.412 billion last year, the Finance Ministry (MoF) gg bulletin displayed on Tuesday.
Car sales down by 13.8 pct in Oct for the second fall this year
The number of road motor vehicles (going into circulation for the first time) fell by 13.8 percent in October, after rising by 6.7 percent in September, Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday.