All News on Economics in Greece
Greek companies draw on Samaras confidence with return to bonds
By Abigail Moses
A recovery in the nation that set off the euro regions debt crisis is allowing Greeces largest electricity company to return to the bond market for the first time since 2000.
Constancio says banks’ cash calls cut risk of ECB test fail
Jeff Black & Boris Groendahl
European Central Bank Vice President Vitor Constancio said lenders in the region are reducing the risk of failing a balance-sheet review by taking pre-emptive steps to increase capital ratios.
Greece expects to beat 2014 budget target, may issue more bonds
Greece said on Wednesday it expected to beat a 2014 budget target set by its international lenders and may tap bond markets again with an issue of between 3 and 6 billion euros to plug any potential funding gap over the next 12 months.
Greece’s public power marketing bonds in first sale since 2000
Public Power Corp SA, Greeces largest electricity company, is returning to the bond market for the first time since 2000 as recovery takes hold in the nation that set off the euro regions debt crisis.
Moody's upgrades Greek banks to stable
Credit rating agency Moody's on Tuesday upgraded the Greek banking system from negative to stable and said the country's economy would return to growth this year after a six-year recession.
Greece third last in EU for credit card use
Greeks are among those least likely to use credit cards in the European Union, according to a European Central Bank report published on Tuesday.
Greece came third last both in terms of the frequency of use and the total value of payments made by credit card, according to the ECB.
After the memorandums
By Alexis Papachelas
Foreign investors snap up new Eurobank shares
It took Eurobank just four hours to fill its book with adequate offers for its approximately 2.5-billion-euro share capital increase from foreign investors on Friday, as investors offered 1.24 billion euros to add to the 1.33 billion that the consortium led by Fairfax has tabled.
S&P upgrades bailed-out Cyprus
Credit agency Standard and Poors raised its rating on Cyprus to B from B- on Friday, saying the Mediterranean nation was faring better than expected after last years tumultuous international bailout.
Cyprus was meeting terms set out by its foreign lenders and risks to its debt repayments were less, the ratings agency said.
EU: Greek Debt Worsened, Country Still Needs Assistance
Greece must still rely on its international lenders to keep afloat, according to a report by the European Commission published Friday.
EU representatives note that country's debt forecast for 2020 is 125% of GDP, 1% up from the previous estimates.
For 2022, it is 112% of the economy, compared to the previous 110%.
Greece makes request for debt relief as loan tranche approved
Greece made its first official request on Thursday for further debt relief as the Euro Working Group (EWG) met in Brussels to rubber-stamp the 2013 primary surplus and approve the release of another 6.3 billion euros in bailout funding.
Greece's NBG launches 5-year bond to raise up to 750 mln euros
Greece's largest bank National Bank (NBG) will issue a 5-year, fixed-rate bond to raise up to 750 million euros ($1.04 billion) and boost its liquidity, the bank said in a stock market filing on Thursday.
Credit Agricole said to seek buyer for $554 million Greek loans
Credit Agricole Leasing Greece, Credit Agricole SAs remaining business in the country, is seeking buyers for around 400 million euros ($554 million) of loans mostly backed by real estate, according to two people with knowledge of the matter.
NBG to break free of sovereign shackles with senior bond
National Bank of Greece is preparing to price a senior unsecured bond at a lower yield than its sovereign, in a sign that the «doom-loop» between sovereigns and their banks might finally be broken.
Greece sees 2013 primary budget surplus at 1.5 bln euros, says deputy finance minister
Greece's general government primary surplus last year, as calculated by the country's international lenders, is estimated at 1.5 billion euros ($2.07 billion), Greece's deputy finance minister said on Wednesday.