Economy
The ins and outs of the Greek bank recapitalisation process
As the dust settles from Greece’s whirlwind agreement with lenders in August, attention is falling on the recapitalisation process for Greek banks.
Marked drop of 50 bps in new time deposit rate in July amid capital controls
After remaining broadly stable at around 1.8 percent since last December, Greek households’ new time deposit rate recorded a marked drop by 50 basis points (bps) to 1.31 percent in July, according to the Bank of Greece (BoG).
Lack of new orders and sharp drop in production lead to weak PMI in August
After reaching a record low in July, Greece’s Manufacturing PMI improved by 8.9 points to 39.1 in August, according to Markit.
Study shows deep impact of capital controls on retail sector
A study published by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) highlights the devastating impact on retail sales from the imposition of capital controls.
Retail sales fell by 1.7 percent in June, after a short-lived rise in May
After a short-lived rise by 2.4 percent in May, the turnover of Greece’s retail trade index fell by 1.7 percent in June, according to the Hellenic Statistical Agency (ELSTAT).
These are the bailout deliverables expected from Greece in September
Greece’s caretaker cabinet was sworn in on August 28 and on the same day, the European Commission (EC) President Jean-Claude Juncker sent a letter to the caretaker Prime Minister Vassiliki Thanou.
Greek stocks almost unchanged at end of roller coaster week
The Greek stock market slipped 0.2 percent this week after a drop of 5.7 percent in the preceding week.
Sixth straight fall for economic sentiment in August as it plunges by 6.1 pts
Greece’s economic sentiment (ESI) dived for the sixth straight month in August when it fell by 6.1 points to 75.2 from 81.3 in July, according to the European Commission (EC).
Q2 GDP rebounds by 0.9 pct QoQ on higher consumption and falling imports
Greek seasonally adjusted (SA) GDP at constant prices rose quarter on quarter (QoQ) by 0.9 percent in Q2 2015 following an upward revised 0.1 percent growth recorded in Q1, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) on Friday.
July credit contraction at 1.5 pct, slowest since Aug 2011
Greek bank credit contracted at a decelerating pace for the fourth straight month in July, when it decreased by 1.5 percent from 1.7 percent in June, according to the Bank of Greece (BoG).