Greek credit contracts by 3.1 pct in December

EconomyMacroeconomy Tags: Banking, BoG, Loans

The rate of contraction in Greek bank credit slightly accelerated to 3.1 percent in December from 3 percent in November, according to the Bank of Greece (BoG). However, this was the second lowest negative reading since November 2011.

Lending balances continued heading south for the sixth consecutive month and landed at 212.04 billion at the end of December implying a drop by almost 6 billion in the course of 2014.

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