Economy
New fiscal measures aim to edge Greece closer to deal with lenders
Greece and its lenders appear to be progressing towards a deal after weeks of deliberations and disagreement, with Athens having reportedly agreed on a set of fiscal measures.
Uptick in time deposit rates, mixed trends in corporate loans
The interest rate on households’ new time deposits edged up by 2 basis points (bps) to 1.83 percent in March from 1.81 percent in February, according to the Bank of Greece (BoG).
Unemployment rate eases to 25.4 pct in Feb, as number of unemployed falls
The seasonally adjusted (SA) unemployment rate eased for the second straight month in February, when it fell to 25.4 percent from a downward revised 25.6 percent in January, according to the Hellenic Statistical Agency (ELSTAT).
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Greek stocks, bond yields show effects of worsening mood regarding country's prospects
The Greek stock market slumped 3.85 percent on Tuesday as the recent optimism that Greece would soon reach an agreement with its official creditors was doused by a Financial Times report showing that International Monetary Fund has adopted a gloomy outlook on public finances.
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.