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Debt
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EconomyMacroeconomy
Parliament's budget office sees obstacles to recovery, warns on private debt In its quarterly report published on Monday, the Parliamentary Budget Office (PBO) notes that the macroeconomic developments in Greece in the third quarter (Q3) sent mixed signals.
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PoliticsGreek Politics
Athens looks to Draghi for positive signals on debt relief It was mentioned almost as an afterthought. Mario Draghi, the European Central Bank President, reframed the ongoing debate on Greek debt relief, noting the ECB would draw its own conclusions on sustainability, wait for relief to be implemented, and then decide whether to include Greece in its quantitative easing programme.
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EconomyMacroeconomy
ELSTAT revises 2015 primary surplus downward to 0.15 pct of GDP, slightly ups debt The second notification of the annual fiscal data published by the Hellenic Statistical Authority (ELSTAT) on Thursday revealed a lower 2015 primary surplus and higher debt compared to the initial figures published in its first notification on April 21.
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EconomyMacroeconomy
Stournaras outlines conditions for strong 2017 growth, calls for debt relief measures soon Speaking at the congress of the Association of Greek Tourism Enterprises (SETE) on Monday, the Bank of Greece (BoG) governor Yannis Stournaras repeated his belief that the domestic economic will start recovering in the second half of this year.
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PoliticsGreek Politics
Tsipras makes end-year debt deal government's top priority Alexis Tsipras launched SYRIZA’s four-day congress with a relatively low-key speech on Thursday that contained three key messages.
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Economy
IMF sees primary surplus of 0.7 pct of GDP in 2017, debt ratio peaking at 184.7 pct Following the release of its World Economic Outlook (WEO) on Tuesday, including its updated macro forecasts on Greece, the International Monetary Fund published on Wednesday its Fiscal Monitor report outlining its fiscal estimates.
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EconomyProgramme
After Article IV consultations IMF says challenges remain, substantial debt relief is needed Following the completion of the IMF mission visit to Athens on the Article IV consultation, the fund published on Friday afternoon its concluding statement with the preliminary findings.
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EconomyMacroeconomy
Central government debt climbs to 328.3 bln in Q2 on bailout tranche of 7.5 bln Greece’s central government debt increased by 7.33 billion euros to 328.34 billion in the second quarter (Q2) of 2016 from 321.01 billion in the previous quarter, according to the Finance Ministry (MoF) debt bulletin.
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EconomyProgramme
In updated DSA, EC sees Greek debt as unsustainable if no relief measures implemented In its compliance report for the first programme review, the European Commission (EC) included an updated debt sustainability analysis (DSA). This takes into account the milder recession and higher fiscal outcome in 2015 and lower bank capital needs.
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EconomyMacroeconomy
BoG proposes debt relief measures and lower primary surplus target from 2018 In its monetary policy report published on Wednesday, the Bank of Greece (BoG) suggested a set of debt relief measures that would allow Greece’s primary surplus target to be lowered to 2 percent of GDP from 3.5 percent from 2018 onwards.