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Under relentless pressure from opponents, Tsipras unveils plans for new crisis agency
PoliticsGreek Politicsof the civil protection authority, seen as one of the major weak points in the response to the Mati fire... of the most contentious points in the case of Mati. The announcement is the latest attempt...). The government also now faces the difficulty of trying to pivot from the sombre issue of the Mati fire to the MoU
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Deposits rise for third straight month in May, reaching 162.1 bln
EconomyMacroeconomyGreek private sector deposits rose 0.4 percent month on month (MoM) in May, with balances reaching... for the third straight month with inflows slightly increasing to 548 million euros in May from revised 411 million in April. May’s flow is fully attributed to time inflows of 749 million, while sight
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Loan and deposit rates edge down in May but remain above euro area average
EconomyMacroeconomydeposits fell further by 18 bps 2.53 percent in May, according to the Bank of Greece (BoG). The year... rate of 1.42 percent in May. In addition, it is still higher than the respective rates in Spain... of the average rate on new loans by 36 bps in April, there was a reversal in May with the average loan rate
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This is where Greek gov't could find cash to cover May's obligations
EconomyProgrammethis obligation. May obligations Debt obligations in May are higher than those in April and include: a) Rollover of 1.4 billion 6-month T-Bills on May 6 with foreign investors holding a considerable but minority stake of maturing securities. b) Rollover of 1.4 billion 3-month T-Bills on May 13
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Unpaid taxes rise by 1.03 bln in May, taking total to 77.88 bln
EconomyMacroeconomyThe increase in Greece’s new unpaid taxes accelerated to 1.03 billion euros in May from 737 million...). This follows a month on month (MoM) decline in the preceding three months, while May figure is the first reading above the 1-billion mark since February. Following May's performance, the aggregate figure
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Eurosystem funding for Greek banks up by 3.56 bln in May to reach 116.4 bln
EconomyMacroeconomyGreek banks’ Eurosystem funding increased for the eighth straight month in May but at a slower pace...) monthly financial statement published on Tuesday. The outstanding figure for May reached 116.4 billion..., ECB funding marginally rose by 0.35 billion to 38.83 billion in May. This amount is almost
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Deposit outflows eased to 3.86 bln in May, balance below 130 bln
EconomyMacroeconomyGreek private sector deposit outflows eased to 3.86 billion in May from 4.66 billion in Apr... in May largely stemmed from time deposits (2.74 billion), while sight and savings recorded more modest... billion month on month in May to 151.01 billion. This is the also the lowest reading since May 2004
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Economic sentiment slips to 89.7 in May, consumer confidence rebounds to -71.9
EconomyMacroeconomyGreece’s economic sentiment (ESI) fell by 0.6 points in May after increasing in the preceding two... over the last three months. The May headline figure of 89.7 is the lowest reading since February... in the past four months by 1.8 points to -71.9 in May. The rise in May offset a similar drop recorded
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Deposit flow turns positive in May with inflows of 184 mln
EconomyMacroeconomyThe flow of Greek private sector deposits turned positive in May with inflows of 184 million... balance rebounded to 121.7 billion euros in May its highest reading since January. The positive flow in May is entirely attributed to sight inflows of 1.54 billion euros, while savings and time deposits
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Current account deficit widens to 412 mln in May
EconomyMacroeconomyGreece's current account (C/A) deficit almost tripled to 411.6 million euros in May from 139.9... year to positive this May. Moreover, BoG said that the drop in exports is largely due to a decrease... sea transport receipts. In addition, travel receipts fell 10.4 percent to 1.1 billion in May despite
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