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Govt counts fiscal cost as Greece heads for lockdown extension
PoliticsGreek PoliticsThe government is expected to announce the extension of the stricter lockdown in place in Attica and other parts of Greece for at least one more week due to the persistently high number of Covid-19 cases and the pressure on the national health system. R...
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CPI up by 1.4 pct in July as higher fuel prices and cost of electricity filter through
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) increased by 1.4 percent year-on-year (YoY) in July, accelerating from the 1 percent rise in June, according to the latest data from the Hellenic Statistical Authority (ELSTAT) released on Monday. The average CPI for ...
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Greece voices support for Ukraine as govt counts cost of war's impact on economy, public finances
PoliticsGreek PoliticsPrime Minister Kyriakos Mitsotakis has made it clear that politically his government will stand with the European Union and NATO over Russia’s invasion of Ukraine as his ministers scramble to find ways of mitigating the economic impact of the war. Follo...
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New Democracy's lead narrows amid cost-of-living worries, mixed feelings over Ukraine
PoliticsGreek PoliticsPrice hikes are a growing source of concern for Greeks according to the latest opinion poll, which also suggests that support for the New Democracy government has slipped rapidly in the last few days. The survey by Marc for ANT1 TV shows that ND’s lead ...
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Monthly and volume retail sales data shrink in May, reflecting cost-of-living crisis
EconomyMacroeconomyThe growth in Greece’s retail sales experienced a significant slowdown in May, rising by 5.1 percent year-on-year (YoY) from a solid 18.8 percent in April, Hellenic Statistical Authority (ELSTAT) data showed on Friday. Greece’s second lockdown was intro...
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SYRIZA and ND square up on cost-of-living crisis as government attempts to draw line under surveillance
PoliticsGreek PoliticsThe opposition has upped the stakes in its attempt to challenge the government’s economic narrative, indicating that this will be the main avenue of attack on New Democracy’s record on the road to elections. In the first Prime Minister’s Hour of the par...
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Piraeus reports 729 mln profit as cost of balance sheet clean-up drops by 3.5 bln
EconomyBankingPiraeus Bank posted a net profit of 729 million euros in the nine months (9M) of 2022, from losses of 3.09 billion euros last year, due to 3.75 billion euros in clean-up impairments in 9M 2021. In 9M 2022, clean-up impairments stood at 287 million euros...
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SYRIZA pushes alternative cost-of-living package but govt support still a vote-winner
PoliticsGreek PoliticsThe surprise announcement of a “Market Pass” for hard-pressed shoppers in the prime minister’s budget statement has attracted strong criticism from the opposition. New Democracy’s main rival SYRIZA has responded by outlining an alternative package to co...
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Opposition clashes with govt over high energy prices, cost-of-living measures
PoliticsGreek PoliticsGreece recorded the highest wholesale electricity prices in Europe in the past week, prompting opposition parties to attack the government, calling for a rethink of its support package. As energy prices across Europe receded with the milder weather, Gre...
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Deposit flow records back-to-back drop of 591 mln in Nov amid grip of cost-of-living crisis
EconomyMacroeconomyThe net private sector deposit movement in the Greek banking system in November stayed negative with a drop of 591 million euros, after another drop of 550 million euros in October, based on Bank of Greece (BoG) figures released on Thursday. After six m...
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