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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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Tsipras may choose benefits of longer game on elections
PoliticsGreek PoliticsThe Greek government appeared to distance itself further on Tuesday from the possibility of snap elections in September. Government sources told local media that Prime Minister Alexis Tsipras that he is considering asking Parliament to hold summer sessi...
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Little trouble for Tsipras in multi-bill vote but bigger problems may lurk over revenues chief
PoliticsGreek PoliticsThe omnibus bill containing many of the 49 prior actions the coalition has to fulfill to secure the next sub-tranche of bailout funding passed through Parliament without any major problems on Friday night. The legislation received the support of 154 MPs...
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Gov't mounts defence of pension plan but lenders' approval may take time
PoliticsGreek PoliticsHaving spent the last few days on the defensive after releasing its proposals for the overhaul of the pension system, the government has decided to actively defend its plan both at home and abroad. On Wednesday, the coalition announced a point-by-point ...
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Hirings Balance, May
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Greece not seen meeting milestones soon, refugee rise may add to tension
PoliticsForeign PolicyThere was little encouragement from Brussels so far this week for the Greek government ahead of the next review. Following a meeting between European Commissioner for Economic and Monetary Affairs Pierre Moscovici and Greek Finance Minister Euclid Tsaka...
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Georgiou conviction may test relationship with lenders
PoliticsGreek PoliticsAn Athens court handed the former head of the Hellenic Statistical Authority (ELSTAT), Andreas Georgiou, a two-year suspended jail sentence on Tuesday, potentially complicating the relationship between Athens and its lenders. The Appeals Court found Geo...
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Launch of new insolvency process may carry political significance
PoliticsGreek PoliticsAll eyes in Athens were on the visit of Turkish Foreign Minister Mevlut Cavusoglu on Monday, but on the domestic front the Greek authorities are preparing for the implementation from Tuesday of the new insolvency framework, which includes an end to the ...
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BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
EconomyIn the governor’s annual report released on Thursday, the Bank of Greece (BoG) assesses the impact of the Ukraine conflict on Greek macro data, with the baseline scenario of growth now lower by one percentage point and inflation notably higher. BoG pres...
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Scant recognition of energy crisis in draft climate law, but EU package may force tougher targets
PoliticsGreek PoliticsGreece’s first climate law made its way to Parliament this week, with only minor changes in light of public consultation and the unfolding energy crisis. The legislation was tabled on the same day that the European Commission presented its REPowerEU pac...
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