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Moody's downgrades Greece's rating by one notch to Caa3
Economyto service its total debt obligations in the next years, it needs to reach a lasting agreement with official... will remain high. The imposition of capital controls will further undermine growth and Moody’s..., Moody’s expects Greek banks will remain closed for a longer period with tighter capital controls.
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What next for Greece's revenues and spending?
Agora. The total pension cost stands close to 2.35 billion per month, with budget contribution for public...With a bank holiday and capital controls in effect since June 29 and the government tabling... with the imposition of capital controls and banks closing. However, the latest expectations do not rule out
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IMF urges substantial debt relief for Greece
EconomyProgrammeneeds of 25 billion euros on top of those mentioned in the preliminary DSA. This brings the total amount... unsustainable. The IMF stresses that the closure of Greek banks and the imposition of capital controls... banks could mean further capital injections in the future. The IMF concludes that the sharp
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From the troika to the quartet
Agora, and not the total nominal amount, that matters most urgently at present. However, this perspective... is at stake, with capital controls in place and a working relationship with its eurozone peers defined... for the next three years. The ongoing capital controls, which have been gradually fine-tuned for households
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July credit contraction at 1.5 pct, slowest since Aug 2011
EconomyMacroeconomyin July from 78 million in June. Since the beginning of the year, total net deductions reached 1.55... almost at 500 million. Balances fell by 2.5 percent to 25.69 billion. The imposition of capital... of the capital controls and the deteriorating macro environment, a key risk factor for credit expansion
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Newsletter 43 - 18/09/2015
their allegiances numerous times over the last few years. A total of six parties have been... of the year. Since the ECB is expected to announce the banks’ capital needs in the second half... and frustration have interchanged almost on a daily basis. The introduction of capital controls at the end
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Industrial turnover dives 18.3 pct in Aug for highest drop in almost 5 years
EconomyMacroeconomythough that the latter makes up just a fraction of the total industrial turnover with a negligible... industrial groupings recorded a marked fall, with energy and capital goods turnover plunging by 36.3... manufacturers experienced the harsh effects of the ongoing capital controls” with latest survey data
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NBG Q2 trading update shows higher pre-provision income, marked improvement in NPL formation
EconomyBankingreversed to 66 million in Q2 from a negative figure of 61 million in Q1, leading total operating income..., excluding those related to loan provisions, after tax earnings and capital. Starting from the top-line... of October and is expected shortly after the release of their capital needs by the Single Supervisory
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Time deposit rate slips 12 bps in Oct, average loan rate rises by 29 bps
EconomyMacroeconomyit was the highest in the euro area before the imposition of capital controls. Following the October movement, the weighted average rate on total new deposits eased by 7 bps to 0.62 percent in October, which... bps after the imposition of capital controls reflects the elimination of competition in the domestic
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Industrial production back on downward trajectory with 1.9 pct drop in Oct
EconomyMacroeconomy), which makes up just a fraction of the total index. Manufacturing and electricity production decreased.... The breakdown of the main industrial grouping showed a sharp decline in capital goods by 15.5 percent... evolution in October largely reflects a decline in capital goods production by 4.6 percent and in energy
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