Eurozone crisis
Greek current account deficit widens in January
Greece's current account deficit widened in January compared with the same month a year earlier, the Bank of Greece said on Friday.
Central bank data showed the deficit was 1.29 billion euros ($1.39 billion) from a deficit of 1.18 billion euros in January 2019.
[Reuters]
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Mitsotakis announces new measures to shore up economy
Prime Minister Kyriakos Mitsotakis has announced a 10 billion euro spending plan to prop up the already battered Greek economy in order to survive the unfolding global economic disaster caused by the Coronavirus pandemic.
Greek credit contracts 1.4 percent year-on-year in January
Total credit in Greece's banking system contracted 1.4 percent year-on-year in January after a 1.3 percent decline in the previous month, official data showed on Wednesday.
The data was released by the Bank of Greece, the country's central bank.
Private sector bank deposits drop in January
Greek private sector bank deposits fell in January after a rise in December, central bank data showed on Thursday.
Businesses and household deposits dropped to 141.15 billion euros from 143.14 billion in December, Bank of Greece data showed.
Greek banks have seen deposit inflows over the space of more than two years.
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Dombrovskis warning on NPLs
Greece passed the test of the fifth post-bailout assessment on Wednesday as the European Commission hailed the country's progress on reforms and its fiscal position, although concerns remain on the nonperforming loans front.
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Huge rise in spending by British tourists
The Germans continue to be the biggest source of tourism revenues for Greece, even if their spending did post a 0.2 percent decline in 2019 compared to 2018, taking it to 2.956 billion euros, according to Bank of Greece data.
In contrast, takings from British tourists posted a major increase, as they reached 2.556 billion, up by 31.9 percent from 2018.
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Greek current account deficit shrinks in December
Greece's current account deficit shrank in December 2019 compared with the same month a year earlier, the Bank of Greece said on Thursday.
Central bank data showed the deficit was 0.54 billion euros ($582.98 million), down from 1.514 billion euros in December 2018. Tourism revenues increased to 289 million euros from 272 million in the same month in 2018.
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Caught between the US and China
US President John F. Kennedy once observed that "When written in Chinese, the word 'crisis' is composed of two characters. One represents danger and the other represents opportunity."
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Greek economy expected to grow 2.4 pct in 2020, says Commission report
The European Commission is forecasting a bigger growth for the Greek economy in 2019, a modest growth for 2020, and stable in 2021, based on its report released Thursday.
Real GDP in Greece is forecast to reach 2.4 percent in 2020 (compared with a previous forecast for 2.3 pct) and 2.0 percent in 2021.
EU signals willingness to ease Greek budget targets
The European Union's new economy commissioner says Greece's bailout lenders are willing to discuss a request by Athens to ease strict budget targets that would help speed up the country's recovery.