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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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Seasonal deposit rise of 4.29 bln in Dec takes total 2021 increase near to 18 bln
EconomyMacroeconomyThe net private sector deposit movement in the Greek banking system rose significantly by 4.29 billion euros, following a rise of 1.83 billion euros in November, based on Bank of Greece (BoG) figures released on Friday. The annual growth in December mar...
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Some tasks, risks left as Greece takes another step to exit from post-bailout surveillance
EconomyProgrammeGreece has one more step to take before it completes its post-programme surveillance after the institutions published the report that accompanies the latest review, the thirteenth since the summer of 2018 when Greece agreed to a number of commitments th...
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Media freedom concerns continue to bedevil Mitsotakis govt as EC takes note
PoliticsGreek PoliticsPressure is piling on the Greek government to respond to the findings of recent reports which highlight a deterioration in conditions for the domestic media. Under increasing scrutiny by the European Commission, the Mitsotakis administration is now prom...
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