Household debt

In the years ahead, Greece should take great care regarding its enthusiasm for North American-style mortgages as a vehicle for encouraging homeownership. 

It should look no further than Canada, where a recent report says Canadians are carrying the highest personal debt levels of all G7 countries - much attributed to homeownership. 

Private debt in Cyprus (households and non-financial corporations) was 218% of GDP in Q1 2023, with debt in absolute numbers totaling €60.1 billion, the Central Bank of Cyprus said Tuesday.

Household debt at end-March was €20.2 billion, €200 million higher than at end-2022. 

Consumer spending on services is still more than 6 percent off pre-pandemic levels

Global debt jumped $9.6 trillion to reach $252.6 trillion year-on-year in the third quarter of 2019 -- an all-time high -- the Institute of International Finance said on Jan. 13.

Total debt totaled more than threefold (322 percent) the global GDP, the U.S.-based institute announced.

Consumer confidence in Greece slid three percentage points in the last quarter of 2016 to 53, from 56 in the third quarter, according to the index that Nielsen fields in 63 countries.

This effectively signals a return to 2015, whose last quarter also saw a 53-point reading, and pits Greece among the three most pessimistic countries in the international survey.

The world is swimming in a record $152 trillion in debt, the International Monetary Fund said on Oct. 5, even as the institution encourages some countries to spend more to boost flagging growth if they can afford it. 

By Evgenia Tzortzi

Piraeus Bank has decided to write off debts of up to 20,000 euros stemming from consumer loans and credit cards for its clients who qualify to benefit from the government?s measures against the humanitarian crisis. The bank will also freeze debts from mortgages for the same category of citizens, it announced yesterday.

Spending on loans and credits has become less alluring for Turkish consumers as figures reveal an annual decline in loan and credit card debt volumes Turkish society was introduced to features such as using consumer credit from banks and loans through credit cards mostly after 2003, with the phenomena quickly becoming a fixture in our lives.