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SETE study presents short- and longer-term prospects of Greek tourism
EconomyMacroeconomy, the additional tax burden over the last 12 months has resulted in a reduction of the Greek tourism... in 2016. SETE points out that the average expenditure per trip has recorded a notable drop... the number of overnights has dropped from 10 days to less than 8 in 2015 and is expected to remain
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Justice can't be blind to facts in 2009 deficit case
Agorathat Greece had to make. Georgiou has been accused by former colleagues of doctoring Greece’s figures... that has been peddled by all three at one time or another to suit their political ends. Having adopted... justice system has failed to see all this after so many years is a great cause for concern
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Greece's 2009 deficit makes for a good conspiracy; shame about the numbers
Agoraand International Monetary Fund-led programme in 2010. The matter has recently resurfaced and Georgiou could face... the Athens Appeals Court. Nobody should be surprised that the saga of the 2009 deficit has not gone... to the lives and prospects of millions of Greeks. The current crop of Greek politicians has not missed
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Mitsotakis tends to internal disputes ahead of renewed assault on Tsipras
PoliticsGreek Politicsof the previous headquarters (9,800 vs 95,000). Given the party has debts of more than 200 million euros... ago, the new president has suffered some criticism from party colleagues. Some moderates in New... to Tsipras, Mitsotakis also has to find a way to unite his party and overcome internal fractures
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Apartment prices drop by 2.7 pct in Q2, slowest rate since Q1 2010
EconomyMacroeconomydecrease recorded in 2014. The biggest drop of 11.7 percent over the past seven years has been posted in 2012, while the rate of fall has decelerated since then. At the same time, housing loans have... classified as non-performing exposures (NPEs) at the end of Q1. In addition, building activity has tumbled
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Tsipras puts proposals to socialist leaders, resumes bailout talks ahead of review
PoliticsGreek Politicsof the process for the next bailout review to begin. Athens still has 15 prior actions to complete ahead... government has made it clear that it is not willing to accept further liberalisation of the labour market... becoming a contentious issue politically, as until now the government has mostly been targeted
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Retail sales drop for thirteenth straight month by 5.2 pct in June
EconomyMacroeconomyand 0.7 percent respectively. Since 2010, the retail turnover in the Greek market has slumped 28.5 percent largely reflecting a nosedive in household disposable income that has been cut by almost one... the turnover has plunged 51.4 percent over the past six years, while big drops have been also
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One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
EconomyBankingbillion in March to 5 billion in August, the lowest figure among its domestic peers. The bank has 3.6 billion repo-placed with the market over the past five months, while has eliminated pillar II bonds... with the undrawn liquidity at 9.8 billion. NBG has also sold 1.9 billion of EFSF bonds participating
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Fitch affirms Greece’s rating at ‘CCC’
Economy’. It is worth noting that S&P has the highest rating (B-) on Greece, three notches above that of Moody’s... of the legislated measures difficult. In addition, the government has sufficient buffers, such as cash, repos... and institutional framework, the progress in working through the bad loans has been relatively slow. A rating
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HFSF study identifies constraints on developing dynamic NPL market
EconomyBankingin the legal framework has led to long backlogs and delays. The volume of both new and accumulated... to over-indebted individuals, has produced unintended consequences regarding the ability of creditors... stresses As a provisional measure, an amendment could be adopted according to which the debtor has
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