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Greece takes stock of measures to mitigate Covid-19 impact after Eurogroup reaches deal on latest batch
EconomyAfter more lengthy negotiations, eurozone finance ministers arrived at an agreement on Thursday night to add to the measures that have already been announced to combat the economic impact of Covid-19. Although the compromise struck, bridging major diffe...
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Banks look for way forward as economic shutdown takes its toll
EconomyBankingGreeks banks are facing a complicated challenge in the face of coronavirus as their efforts to reduce NPLs have come to a standstill. In their full year performance reports for 2019, all four of Greece’s systemic banks reported profits and solid progres...
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Roadmap leading out of lockdown pondered by ND as SYRIZA takes aim at media
PoliticsGreek PoliticsThe Greek government is set to announce by April 27, when many of the current restrictions on movement are set to expire, its plans for starting to lift the lockdown that has been in place since March 23. Government spokesman Stelios Petsas provided the...
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Greece takes first round against Covid-19 but fight continues
AgoraIn the wake of the devastating impact of the Covid-19 pandemic on Europe, Greece has emerged as an unlikely role model, with international media referring to the “Greek model” of crisis management, and praising the country’s seeming transformation from ...
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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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