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Greece completes first bond issue in three years, eyes more on way out of programme
EconomyGreece has tapped capital markets with a 5-year bond issue for the first time since 2014, raising 3 billion euros. The book-building process launched on Monday and concluded on Tuesday afternoon. As we noted, the transaction included a switch and tender...
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Athens, creditors on way to settling energy, labour issues in third review
EconomyProgrammeElectronic auctions are due to begin on Wednesday, with the Greek government hoping that the process runs smoothly and that an agreement with the institutions can be secured by the end of the week. It is expected that just a handful of properties will g...
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After Washington talks, debt relief and fiscal remain main obstacles on way to MoU exit
EconomyProgrammeThe clarity that the Greek government had hoped might emerge from the discussions at the sidelines of the International Monetary Fund Spring Meetings failed to materialise and significant issues relating to the post-programme period will have to be reso...
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Banks submit new NPL targets to SSM, with sales leading way in reduction drive
EconomyBankingGreece’s four systemic banks have submitted new Single Support Mechanism (SSM) guidelines on Friday, under which the banks’ bad loans will be tackled. The new targets involve the restructuring of 50 billion euros’ worth of bad loans, according to report...
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Athens and Washington agree plan for closer ties as Skopje paves way for name deal
PoliticsForeign PolicyThe first Strategic Dialogue between Greece and the United States was concluded in a very convivial atmosphere in Washington on Thursday. The talks, which included high-level interagency representation from both countries, were launched by US Secretary ...
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BoG and HFSF schemes under scrutiny as banks look for a way forward on bad loans
EconomyBankingWhile authorities await the second post-programme survey report, Greece’s banks have continued with their work in reducing bad loans in order to reach the ambitious target of an NPE ratio below 10 percent by 2021. In its end of January report on Greece’...
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EastMed pipeline close to high-level agreement, but still a long way from becoming reality
EconomyFeaturesThe EastMed pipeline project is approaching another milestone, with a summit due to take place between Israel, Cyprus and Greece in Jerusalem on March 20. However, the 6.2-billion-euro energy mega-project still has a number of hurdles to clear before it...
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Card usage gains traction with debit cards leading the way, BoG finds
EconomyBankingThe Bank of Greece’s (BoG) latest overview of the Greek financial system has shown that the rate of card use among businesses and individuals has steadily increased over recent years. According to the latest data, the total number of active payment card...
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BoG report highlights economic challenges, proposes way forward
EconomyThe Bank of Greece (BoG) published on Monday its Monetary Policy Report for 2018 and 2019, which outlines the areas where there has been significant progress but it also highlights several risks and makes proposals that would free up the country’s poten...
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Third bill on way as Athens looks to autumn reforms, negotiations with creditors
PoliticsGreek PoliticsThe third of three bills New Democracy wants to pass before Parliament’s summer recess is due to be submitted to the House on Friday as the government looks towards the challenges it faces in the autumn, particularly in terms of its negotiations with th...
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