Business cycle

Many influential experts have been announcing the next crisis for quite a while now. What is your opinion on that?

Greek banks' full repayment of emergency liquidity assistance (ELA) drawn from the domestic central bank is credit positive as it reduces their funding costs, ratings agency Moody's said in a credit outlook report on Thursday.

The U.S. Federal Reserve on March 20 brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year amid signs of an economic slowdown, and saying it would halt the steady decline of its balance sheet in September.

Greece's economy shrank slightly in the last three months of 2018 after expanding for nine consecutive quarters, government data showed on Thursday, with the annual pace of growth also slowing.

As presented in the previous Note for Discussion, the intertemporal balance sheet calculated as of 2009 (version 2009) - and its projections - was preliminary and data and economic policies have since been revised.

Roughly half the nation's business economists say they think the U.S. economy will slip into recession by the end of next year, and three-fourths envision such a downturn beginning by the end of 2021.

"The government should not undertake reckless measures which would wreck everything the economy has created in recent years - for its own sake and for the sake of the country. If the economy is supported by appropriate political decision making, we can achieve a target of EUR 60,000 of value added per employee and EUR 50bn in exports by 2025.

In September, the overall business climate indicator declined by 1.5 points compared to August. This is due to the unfavorable economic conjuncture in the construction and service sector, according to the regular Business Surveys of the National Statistical Institute. The main factors hampering business continue to be linked to the precarious economic environment and labor shortages.

Confidence in Turkey's economy marked its biggest ebb in a decade in September with a 15.4 percent slump; official data showed on Sept. 27, reinforcing concerns about a sharp slowdown.

Three Greek banks - Piraeus, National and Alpha - are among the world's top 40 lenders in financing oceangoing shipping, as the Greek credit sector has increased its share in funding Greek shipping companies in the face of a global reduction in marine lending, according to 2017 data compiled by Petrofin Bank Research.