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Greece - Some structural macroeconomic arithmetic
Agoraand the ups and downs of the business cycle. After weakness, the economy may be expected to speed up. After strength, it may be expected to slow down. It is the average trend over the ups and downs... optimistic in general, which may reflect optimism bias as they have skin in the game (political systems feel
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A closer look at Greece's Q3 2023 national accounts
Agorato 2022-Q3, real GDP increased by 2.1 percent. This means that real GDP may grow by 2 percent or slightly..., or incipient weakness, there may emerge thoughts that “monetary policy is too tight,” or the government should... attention may then shift to other levers in the toolbox, rather than always thinking of credit and fiscal
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PM seeks to douse snap election talk, points to October polls
PoliticsGreek Politicsgeneral elections in May, the prime minister has given the strongest public indication yet that he... is due to be held on May 26. “This will not happen,” he said. His comments come on the back of media... on Tuesday, also foresees polling stations being divided in two on May 26, so voters will cast ballots
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Wage ruling gives gov't immediate fiscal headache, political one may come later
PoliticsGreek PoliticsA new round of talks with the troika is pending so the last thing the Greek government needed at the moment was a court decision forcing it to return hundreds of millions of euros to civil servants, thereby forcing the Finance Ministry to find the equiv...
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Signs that Greece-eurozone deal may be in sight but much work remains
PoliticsGreek PoliticsAs the dust settles from Wednesday’s inconclusive Eurogroup, it is difficult to assess with certainty whether events in Brussels leave Greece and the eurozone closer or further from an agreement. The meeting of eurozone finance ministers did not lead to...
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As coalition prepares first draft laws, Tsipras may avoid Parliament vote on extension
PoliticsGreek PoliticsThe government appeared on Friday to be leaning towards not submitting the four-month extension of Greece’s loan agreement to Parliament for a vote. Speaking on Friday morning, ahead of a vote in German Parliament on whether to extend the agreement, Sta...
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DTA may spell new trouble for Greek banks
AgoraAlmost twelve months after Greek banks’ capital increases of 8.3 billion euros and six months after the European Central Bank’s comprehensive assessment did not unveil any capital shortfall, capital concerns could emerge again for local lenders. The Fin...
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ELA funding down by 1.48 bln in July for first monthly drop since May 2014
EconomyMacroeconomyGreek banks’ Eurosystem funding fell by 1.29 billion euros in July after rising by 10.17 billion in June, according to the Bank of Greece's (BoG) monthly financial statement published on Monday. This was the first drop in central bank funding since Sept...
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Little trouble for Tsipras in multi-bill vote but bigger problems may lurk over revenues chief
PoliticsGreek PoliticsThe omnibus bill containing many of the 49 prior actions the coalition has to fulfill to secure the next sub-tranche of bailout funding passed through Parliament without any major problems on Friday night. The legislation received the support of 154 MPs...
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Gov't mounts defence of pension plan but lenders' approval may take time
PoliticsGreek PoliticsHaving spent the last few days on the defensive after releasing its proposals for the overhaul of the pension system, the government has decided to actively defend its plan both at home and abroad. On Wednesday, the coalition announced a point-by-point ...
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