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Fitch rating upgrade seals Greece re-establishing itself as investment grade material
Economyrating agency to award Greece an investment grade, upping the country’s rating to ‘BBB-‘, while keeping the outlook stable. This brings Fitch in line with S&P, both one notch ahead of Moody’s, although Moody’s did take a rating action in September, upping GGB rating to ‘Ba1’ with stable outlook
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Latest hooliganism crackdown greeted by mixture of anger and scepticism
PoliticsGreek PoliticsThe government’s response to the latest hooliganism incident has managed to anger the country’s top football clubs while questions have been raised about the effectiveness of the measures. Following... ago, the country’s powerful policing unions managed to wrest from the government the promise
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Retail sales barely move in Oct, collapse in volumes accelerates
EconomyMacroeconomyGreece’s retail sales barely stayed on positive ground in October, with a rise of 0.1 percent year... adjusted index decreased by 1.4 percent, after a 0.1 percent rise in the previous month. The volume’s... recovered almost 4 points to 19.5, up by 14 points from December last year. Overall, Greece’s economic
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Unemployment rate stays below 10 pct in Nov as inactive numbers rise
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained below 10 percent in November, landing... bracket was 8.4 percent. The latest available data from the Labour Ministry’s Ergani database showed that Greece’s employment balance stayed negative in November, with 82,463 more departures than hires
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PDMA taps markets for first time this year via modest bond reopening
EconomyGreece’s debt managers have tapped the markets for the first time this year, with the reopening... euros in 2023 out of a total of 11 billion euros of debt strategy in 2023. Wednesday’s transaction... on December 22. Last year’s first move was a 10-year benchmark of 3.5 billion euros with a yield of 4.28 pct
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Newsletter 409 - 26/01/2024
Mitsotakis is moving ahead with his plan to pass a marriage equality bill with the opposition’s support... the government’s pledge to uncover the truth about the causes of the crash rang hollow given what... forecast of the Greek authorities in this year’s budget. In the country report attached to Article IV
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Investment grade rewards evident in first bond issuance of 2024, attracting record demand
Economybond. Greece’s debt managers had taken a modest first step for 2024 just a few days ago with the re... of 4.279 pct and strong demand that reached 22 billion euros. This year’s transaction fetched... the recent high of 30 billion euros of offers in June 2021 also for a 10-year issue. The transaction’s
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Retail sales make marginal YoY gains in Nov, volumes continue to fall sharply
EconomyMacroeconomyGreece’s retail sales made marginal gains in November, with a rise of 0.6 percent year-on-year (YoY... percent, after a 1.4 percent drop in the previous month. The volume’s monthly movement was up... again from the recent high of -28.6 points in July last summer. Overall, Greece’s economic sentiment
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Unemployment falls to 9.2 pct in Dec amid big YoY drop in number of out-of-job workers
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate remained below 10 percent in December, landing at 9.2 percent, from 9.4 percent in November, Hellenic Statistical Authority (ELSTAT) data showed.... The latest available data from the Labour Ministry’s Ergani database showed that Greece’s employment balance
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Time running out for Golden Visa as housing problems increase
Agoraeligibility would lead to spillovers in other nearby areas. This is already evident in Piraeus, Athens’s... during that time. Greeks are also challenged by the European Central Bank’s tight monetary policy... was more than 5 pct according to Bank of Greece data. Ahead of last year’s general elections
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