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  1. Eurosystem funding down by 535 mln in April, ELA falls for second straight month
    Photos by Dennis Skley via Flickr https://flic.kr/p/qcppmH

    EconomyMacroeconomy

    ) related to lower ELA funding. Overall, Greek banks’ Eurosystem funding has been reduced by 67.43.... Almost two thirds of that marked drop (44.67 billion) relates to lower reliance on ELA funding. The notably lower dependence on central bank funding during the last 22 months is attributed

    6%

  2. Govt tables 2018-21 MTFS containing 4.5 bln in measures, sees growth rising from 1.8 pct this year
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyProgramme

    percent, lower than the recent IMF and European Commission (EC) forecasts of 2.2 and 2.1 percent... rebound of 2.4 percent, which is lower than the IMF and EC estimates of 2.7 and 2.5 percent respectively... in employment by 1–1.8 percent each year in 2017-2021 will drive the unemployment rate lower from 23.5

    6%

  3. Eurobank stays profitable in Q1 with net earnings of 36.5 mln
    Photo by MacroPolis

    EconomyBanking

    profits of 36.5 million euros, slightly lower than the Q4 2016 figure of 38.3 million. This largely... an improvement in deposit NII and lower funding costs. Lending spreads in Greece remained under... income, mostly driven by fees. Loan spread compression is expected to almost offset the lower

    6%

  4. Alpha Bank posts net profits of 48.1 mln in Q1, Greek NPE formation turns slightly negative on write-offs
    Photo by MacroPolis

    EconomyBanking

    ), while the weaker loan NII due to deleveraging was offset by lower funding cost. The latter related to reduced reliance on Emergency Liquidity Assistance (ELA) funding and lower pillar II bonds... of the year. Commission income also dropped by 6.7 percent QoQ to 76 million, mostly due to lower loan fees

    6%

  5. OECD sees GDP growth of 1.1 pct in 2017, stresses structural reforms and debt relief
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    , lower than its previous forecast of 1.3 percent released in late November. However, a stronger growth.... Furthermore, the debt to GDP ratio is expected to be lower at 174.7 percent (from 176.6 percent... with the institutions has already improved prospects and resulted in lower bond spreads. The recent

    6%

  6. European Commission's DSA reveals serious concerns over debt sustainability, need for relief
    Photo by Angelos Christofilopoulos/Fosphotos

    EconomyProgramme

    . This is significantly lower than the IMF forecast of 2.8 percent as of 2022 included in its latest DSA... assumes a substantially lower primary surplus of 1.5 percent from 2018 onwards. Privatisation proceeds... a nominal GDP growth lower by 0.25 pp per year compared to the scenario A, which entails an average

    6%

  7. Eurosystem funding drops by 2.7 bln in June on reduced ELA liquidity

    EconomyMacroeconomy

    of the second programme review. The lower dependence on ELA funding in June was largely expected... of this decrease attributed to lower ELA funding. Furthermore, Greek banks’ Eurosystem funding has... bailout programme was agreed, with the lion’s share of this fall (48.82 billion) related to lower

    6%

  8. Eurosystem funding drops by 3.9 bln in July on big decline in ELA
    Photo by Kiefer via Flickr https://flic.kr/p/q2j8Dt

    EconomyMacroeconomy

    to the conclusion of the second programme review. The lower dependence on ELA funding in July had largely..., with around two-thirds of this decrease attributed to lower ELA funding. Furthermore, Greek banks... billion) related to lower reliance on ELA funding. The significant downswing in central bank funding

    6%

  9. Budget primary surplus at 3.05 bln in 7-month, above target on underspend
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    lower than target, coupled with a higher than expected Public Investment Budget (PIB) balance by 46... versus the target by 1.04 billion. The MoF said that the lower-than-expected expenditure stemmed mainly from earmarked revenues by 302 million, grants to hospitals by 199 million, lower social security

    6%

  10. Eurosystem funding drops by 5.1 bln in Aug driven by ELA fall
    Photo by Kiefer via Flickr https://flic.kr/p/q2j8Dt

    EconomyMacroeconomy

    related to the conclusion of the second programme review. The lower dependence on ELA funding in August... of this decrease attributed to lower ELA funding. Greek banks’ Eurosystem funding has decreased... programme was agreed, with the majority of this fall (55.91 billion) originating from lower reliance on ELA

    6%