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S&P moves Greece down a notch to CCC, maintains recession forecast
EconomyS&P unexpectedly lowered on Wednesday Greece’s rating by one notch to ‘CCC’ from ‘CCC+’, where it had been placed on April 15. The outlook remains negative. Based on the S&P sovereign calendar, the next rating review for Greece was scheduled for Septemb...
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Greek stocks down by 4.77 pct as bond yields head further north
EconomyThe Greek stock market plunged for the third straight day on Tuesday, when it fell by 4.77 percent in the absence of any interest in Greek shares as investors believe that an agreement with lenders seems far for being reached at the moment. The Eurogrou...
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Industry turnover down by 2.3 pct in April for sixth straight fall
EconomyThe Turnover Index in Industry fell by 2.3 percent in April, which is similar rate to the previous month’s decline after an upward revision of the March figure, according to the Hellenic Statistical Authority (ELSTAT). The April headline figure is the s...
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Greek stocks down by 11.3 pct for biggest weekly fall of last month
EconomyGreek stocks recorded losses of 11.3 percent this week, which is the highest over the past four weeks. The negative performance fully reflects the drop in the first three sessions of the week. The last two sessions, albeit volatile, closed on positive g...
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Greek talks go down to the wire as IMF raises major objections
PoliticsGreek PoliticsPrime Minister Alexis Tsipras left for Brussels on Wednesday for meetings with key officials ahead of a Eurogroup at which eurozone finance ministers are due to reach an agreement at the Greek bailout. But just hours before that meeting, the prospect of...
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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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Current account in surplus for 2nd straight month in June but down 20 pct on 2014
EconomyMacroeconomyGreece's current account (C/A) balance displayed a surplus for the second successive month in June but it narrowed by 20 percent year on year (YoY), reaching 1 billion euros from 1.25 billion in 2014, according to the Bank of Greece (BoG). The YoY deter...
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ELA funding down by 1.23 bln in August for second successive fall
EconomyMacroeconomyGreek banks’ Eurosystem funding eased for the second successive month in August, when it fell by 1.23 billion euros after a drop by 1.29 billion in July, Bank of Greece's (BoG) monthly financial statement showed on Monday. In absolute terms, Eurosystem ...
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Greek stock market unmoved by election result, edges down 3.2 pct over week
EconomyThe Greek stock market shed 3.2 percent this week in the aftermath of Sunday’s snap elections and formation of a new coalition government. Trading activity remained subdued as investors are still reluctant to invest in Greek shares. In the absence of fi...
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Greek stocks down 5.1 pct over week as investors remain cautious
EconomyThe domestic market continued heading south for the second straight week, with markedly subdued trading activity on the lack of positive catalysts and nervousness in the global markets. At the same time, investors appear extremely concerned about banks’...
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