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Economic sentiment, consumer confidence plummet in April as construction takes worse hit
EconomyMacroeconomyGreece’s economic sentiment (ESI) fell by 10.1 points month-on-month in April to reach 99.3 points, European Commission (EC) figures showed on Monday. In April, the Employment Expectations Indicator (EEI) for Greece came to 102.4 points compared to 115....
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April drop of 9.9 pct for industrial production largest since 2011 as virus takes toll
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) decreased by 9.9 percent year-on-year (YoY) in April following a slightly downward revised increase of 0.4 percent in March, Hellenic Statistical Authority (ELSTAT) data revealed on Friday. The headline figure ...
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Covid-19 takes toll on budget as primary deficit widens to 4.80 bln in May
EconomyMacroeconomyThe budget primary balance recorded a deficit of 4.80 billion euros in the first five months of 2020, compared to a surplus of 916 million in April 2019, the preliminary Finance Ministry (MoF) budget execution bulletin for May showed on Monday. May’s pr...
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Pandemic takes heavy toll on Greek workers, study finds
EconomyFeaturesResearch from the General Confederation of Greek Workers (GSEE) has shown the burden of the coronavirus pandemic on the average Greek worker. The research, which covered the Greek economy as a whole, found that in the second quarter of 2020, a period in...
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Podcast - Covid-19 takes another bite out of the Greek economy
AgoraOver the last few weeks, Greece has not just seen more worrying data on the Covid-19 front, but the forecasts for its economy have also been worsening. Nick Malkoutzis and Phoebe Fronista discuss where things have gone wrong this year for the Greek econ...
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Strong response to dual bond transaction takes 2021 debt issuance to 14 bln
EconomyGreece’s debt manager successfully completed the fifth syndicated transaction of the year through a dual transaction of the re-opening of the existing 5-year bond due February 2026 and the 30-year that was maturing in January 2052. Both bonds were initi...
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Eurobank profitability rises in 9M, Mexico securitisation takes NPE ratio to 7.3 pct
EconomyBankingEurobank posted a net income of 216 million euros in the first nine months (9M) of the year, compared to a loss of 1.08 billion euros in the same period last year. In the third quarter (Q3), net profit was 26.1 million, after 120 million euros in the se...
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MEP Androulakis takes first round in KINAL leadership vote after notable turnout
PoliticsGreek PoliticsSocial democratic MEP Nikos Androulakis and former prime minister George Papandreou will contest the leadership of KINAL in a run-off ballot next Sunday after an impressive turnout in the first round of voting to elect a new head for the centre-left par...
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Greece takes next steps, including bond swap, to enhance debt profile over coming years
EconomyMacroeconomyThis week started with two developments that intend to further smooth out Greece’s debt obligations in the coming years. The Greek authorities have for some time been trying to convince the institutions that the balance of Greece’s obligations to the IM...
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MEP takes comfortable lead over former PM in advance of KINAL leadership run-off
PoliticsGreek PoliticsNikos Androulakis, a moderate MEP from Crete with no prior experience in national government, is emerging as the clear favourite to win the second round of voting for the leadership of third party Movement for Change (KINAL). Androulakis, who won the fi...
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