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Travel receipts drop at an accelerating pace of 10.4 pct in May despite growth in arrivals
EconomyMacroeconomyGreece's travel receipts headed south for the second straight month dropping at an accelerating pace of 10.4 percent in May from 7 percent in April, Greece (BoG) figures showed on Friday. The absolute figure landed at 1.1 billion in May, while the corresponding payments fell by 5.5 percent to 179.6
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Decline in retail sales accelerates to 8 pct in May
EconomyMacroeconomyGreece’s retail sales index accelerated its decline in May, falling by 8 percent year on year from a revised 4.4 percent drop in April, according to data released by ELSTAT on Friday. The volume... in the previous month. Both seasonally adjusted indices, for turnover and volumes, fell month on month in May
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Tsipras in tight spot over debt deal but QE access may hold key to compromise
PoliticsGreek PoliticsThe Greek government seems intent on trying to forge a better deal with its lenders than the one proposed at the May 22 Eurogroup, with access to the European Central Bank’s QE scheme perhaps holding... to consider Greek bonds as eligible. There have been reports over the past few days that Stournaras may take
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Trade deficit up 14.2 pct in May as imports increase along with exports
EconomyMacroeconomyGreece’s trade deficit grew by 14.2 percent in May after falling by 14.3 percent in the previous month, Hellenic Statistical Authority (ELSTAT) provisional data showed on Friday. The increase in May reflects a rise in exports by 25.3 percent, which was impacted by imports also rising by 20.6
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Travel receipts edge up 1.7 pct in May on higher foreign arrivals
EconomyMacroeconomyGreece's travel receipts edged up by 1.7 percent in May, decelerating from the 11.3 percent growth recorded in April, Bank of Greece (BoG) data revealed on Monday. Receipts stood at 1.09 billion euros in May, while the corresponding payments fell by 2.6 percent to 167.7 million. As a result, travel
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Industrial production grows 1.6 pct in June, slowing from May
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) increased by 1.6 percent in June following upwardly revised growth of 6.3 percent in May, Hellenic Statistical Authority (ELSTAT) data revealed on Tuesday... the May decline of 0.03 percent and finished at 92.89. This represents the lowest reading since November
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Banks gear up for stress tests, with results due in May
EconomyBankingSupervisory Board to meet to discuss and rubberstamp the results of the exercise in May, leaving... the exercise is formally completed on May 4, when the Supervisory Board is due to meet. The process
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Lenders still aiming for completion of fourth review in May
EconomyProgrammeon Tuesday, a senior eurozone official said that reaching a staff-level agreement (SLA) in May... this week that a deal may be struck in early July instead, but the eurozone official who spoke
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Lenders return to Athens with much work ahead to reach SLA by May 24
EconomyProgrammeThe effort to reach a staff-level agreement (SLA) by the May 24 Eurogroup resumes in Athens on Monday with the return of the institution’s technical teams, who will be followed by the mission chiefs... later this year because of the slow pace of reforms and fears that the process may stop completely
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After fourth review SLA, build-up to May 24 Eurogroup begins
EconomyProgramme. The details may be ironed out by the May 24 Eurogroup but the International Monetary Fund will also
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