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BCP in first successful placement of Greek bank shares after recap
EconomyPortugal’s BCP (Banco Comercial Portugues) launched on October 29 an accelerated placement (to institutional investors only) disposing its entire stake in Greece’s Piraeus Bank. The announcement confirmed recent market rumours of an imminent placement of Piraeus shares held by BCP. BCP’s
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Has internal devaluation really helped Greek exports?
EconomyThe performance of Greece’s exports has been one of the main disappointments of the troika-led program. One of the pillars of Greece’s adjustment was meant to be internal devaluation, which through... by the political uncertainty and repeated statements by European politicians in 2012 putting the country’s
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Move to unite centre left takes next step but potential in doubt
PoliticsGreek Politicsas a result of the ongoing crisis. The initiative’s short-term aim is to act as a platform on which... backing and its leader, Evangelos Venizelos, attended Monday’s event. But Democratic Left, largely... Prime Minister and PASOK leader, Costas Simitis, who was also present at Monday’s events. This, though
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Primary budget surplus in Nov at 1.2bln euros, 2013 target in reach
EconomyGreece’s budget execution to November showed a primary surplus of 1.21 billion euros from a deficit... billion (not incorporated in Greece’s 2013 fiscal targets), which are officially reported by the MoF... in interest payments by 48.1 percent compared to last year (mainly owed to last year’s PSI), resulted
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As EU presidency approaches, poll suggests Greeks are most isolated within Union
Society, Greeks feel least confident about the Union’s future and are the most detached from the bloc..., against an EU average of 51 percent, while 69 percent feel pessimistic about the EU’s prospects in Greece... is slightly lower at 11 percent. For a country which for years ranked very high in terms of people’s
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On Portugal, PSI and a national salvation pact
Agora, servicing Portugal’s debt costs €7.2 billion in interest payments a year and this number will grow every... for which we have data is 3% of GDP. Portugal’s current primary budget balance is negative 1.6% of GDP... is already satiated with Portuguese paper. It already owns 23% of Portugal’s bonded debt, via €21.8
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Primary surplus at 2.1 bln in Feb, ahead of budget execution target
EconomyMacroeconomyGreece’s budget execution showed a primary surplus of 2.1 billion euros to February, more than five... revenues reported in the first two months of the year are not fully comparable to last year’s figures since... million, up 63 percent from last year’s figure of 605 million. Furthermore, the 2-month PIB surplus beat
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EU funds and limited expenditure drive primary budget surplus to 2 bln in Feb
EconomyGreece’s budget execution showed a primary surplus of 2.06 billion euros to February, which is over... exceeded targets. That said, part of the revenues reported on a modified cash basis in this year’s 2-month... for the second consecutive month. As it was also evident in last year’s budget execution, for several
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EU subsidies help push Q1 primary budget surplus to 1.57 bln, well above target
EconomyGreece’s budget execution showed a primary surplus of 1.57 billion euros in the first quarter... of 487 million to February. Nevertheless, this year’s budget deficit has narrowed by 69 percent from last year’s 1.35 billion. The fiscal outcome in the first quarter of 2014 beat the 3-month target
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Greek current account deficit rises to 709 mln in February
EconomyMacroeconomy-resident’s direct investment in Greece showed a net inflow of 100 million in February and 55.4 million... in resident’s investment in foreign T-Bills and a decline in non-resident’s holdings of Greek government bonds and T-Bills. Greece’s reserve assets increased by 500 million month on month to 5.06 billion
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