All News on Economics in Greece

Greek debt swells again as Samaras looks to creditors for relief

Greek state debt surged to the highest in the euro era last year, underscoring the urgency of Prime Minister Antonis Samaras’s push to lower the cost of the government’s bailout loans.

Eurostat to confirm the size of 2013 primary surplus

By Sotiris Nikas

Eurostat is expected on Wednesday to ratify the 2013 primary budget surplus, which will serve as the trigger for the further lightening of the Greek debt. The announcement will be the focus of Thursdays Euro Working Group along with the presentation of a new growth plan for the Greek economy aimed at changing conditions in the country.

Greece's ex-FinMin says IMF did not demand debt relief

Former Finance Minister Giorgos Papaconstantinou issued a statement on Tuesday denying claims that the International Monetary Funds ex-Managing Director Dominique Strauss-Kahn had insisted that the Greek debt be restructured as part of the bailout deal signed in May 2010.

Eurobank and National eager to tap markets

Eurobank and National are rushing to make the most of the favorable climate for Greece in global markets, as the former is beginning the process of its share capital increase this week and the latter is expected to open the book for its new five-year bond on Tuesday.

Eurobank eyes top Core Tier 1 level in Greece

Eurobank chief executive Christos Megalou expressed certainty on Thursday that the lenders share capital increase will be successfully completed very soon.

New Greek bond returns to yield at sale

Greeces new five-year bond returned on Wednesday to the yield at which it was sold last week, after a turbulent few days of trading.

The bond issue which was Greeces first in four years and came just two years after the country defaulted was issued at a yield of 4.95 percent last Thursday.

Euro periphery emerges as haven as bonds rise amid Ukraine feud

Lukanyo Mnyanda & Eshe Nelson

The euro areas higher-yielding government bonds are emerging as a haven from emerging-market turmoil as the prospect of greater stimulus from the European Central Bank underpins demand for the securities.

Industry turnover index declines in February

The turnover index in industry in February recorded a decline of 0.1 percent, compared to the same month last year, Greeces statistical authority, ELSTAT, reported on Wednesday.

Eurozone inflation stuck in 'danger zone', keeps pressure on ECB

A shock drop in March eurozone inflation to its lowest level since November 2009 was confirmed on Wednesday, keeping pressure on the European Central Bank to intervene should prices not rebound.

Greek short-term borrowing costs tumble

Greece's borrowing costs in a short-term debt sale have tumbled, days after the country returned to the international bond markets.

The interest rate on a 13-week treasury bill issued Tuesday fell to 2.45 percent, compared with 3.1 percent for a similar issue last month, according to the public debt management agency.

IMF calls for more structural reforms

By Katerina Sokou

Structural reforms are the way out of the financial crisis for Greece, according to the International Monetary Fund, whose Managing Director Christine Lagarde said that «the journey is not over, there are still more structural reforms to implement and plenty of work to be done on the way."