Economy
Economy
Greek Bond Spreads Hit New Record
Greek 10-year spreads hit another record high amid volatility and just ease off their new record, exceeding benchmarch German bond rates by 10 percentage points for the first time.
Monday's record occurred on the eve of a euro1.5 billion ($1.96...
Economy
"Sovereign Risk Report" Ranks Greece as Most Risky Nation
Greece tops the list of the ten most risky sovereign countries seen as most likely to default on debt and unable to honor its debt obligations. In the report “Sovereign Risk Report for Q4 2010″ released by world’s leading credit...
Economy
Greek Investment to Inject 4 Billion Euros in Economy
Greece will announce investment worth 4 billion euros ($5.2 billion) in March under a plan to inject liquidity into Greece’s economy, the Athens News Agency reported, citing Economy and Competitiveness Minister Michalis Chrisochoides (photo).
Chrisochoides spoke after a meeting in...
Economy
Greece will Issue 6 Month T-Bills Worth 1.5 Billion Euros
Greece on Friday said it would issue next week a batch of six-month treasury bills worth 1.5 billion ($1.97 billion). This is the largest offering in months amid a planned bond comeback this year.
"On January 11th, the Hellenic Republic will...
Economy
Greece Isn’t in Debt Restructure Talks, Minister Tells Reuters
Greece isn’t in talks with creditors on restructuring its debt, Reuters news agency said, citing an interview with Finance Minister George Papaconstantinou.
Papaconstantinou said talks with China on buying Greek bonds, as Chinese Premier Wen Jiabao pledged during a visit...
Economy
Greece’s Revenue In 2010 Rose By 5.4%
Despite repeated revisions of the financial goals of last year΄s budget, Greek government missed a revised target of revenue by about EUR290million, according to officials.
The shortfall is considered relatively small, as no significant effect will have on the deficit...
Economy
President of Industrialists of Athens & Pireaus: Greek Economy Entered Vicious Circle
The Greek economy has entered a vicious circle that will be very hard to exit, president of the Association of Industrialists of Athens and Piraeus Dimitris Mathios warned. He delivered his claim in a circular message to the association's members.
This...
Economy
Private Sector Credit Decelerated Further in Nov 2010
The annual growth rate of total credit granted to the domestic private sector decelerated further to 0.4% in November 2010, from 1.0% in October 2010 and 4.1% in December 2009, according to the Bank of Greece
"This development reflects the...
Economy
Greek Travel Agencies' Record Decline in Holiday Travel
A major decline in travel by Greeks, both abroad and domestically, was recorded in the Christmas-New Year holiday season this year, according to travel bureau representatives.
The reduction in holiday travel mainly concerns middle incomes. The middle income level is traditionally...
Economy
Greek Stocks’ Annual Losses Reach 35.6% in 2010
Athens Stocks moved on negative ground in the last session of the year, as the General Index ended at session lows, on a turnover of just 37.3 million euro.
National Bank and Alpha Bank were under pressure, as they fell...
Economy
Kathimerini States Bad Greek Loans Likely to Exceed 31 Billion Euros
Bad loans at Greek banks in 2011 are likely to exceed 31 billion euros ($41 billion), or 12% of total loans, up from 10% this year, Kathimerini reported, citing bank officials.
The deterioration is probable because of falling household and...
Economy
OTE Cuts Extra Payments & Benefits to its Parent & Susidiaries Managers
Hellenic Telecommunications Organisation (OTE) proceeded with the cutting of extra payments and benefits of both its parent and subsidiaries managers. This is considered as the first step in cutting salary costs.
President and CEO Michalis Tsamaz, decided that OTE’s executives...
Economy
Regulatory Authority for Energy Approved Tariff Increases
Greek electricity utility Public Power Corp SA (PPC.AT) said Tuesday that the local Regulatory Authority for Energy, or RAE, has approved its proposed tariff hikes to be implemented from the start of 2011.
"There will be an 11% tariff rise...
Economy
Public Debt Management Agency States Greece will Resume Monthly Treasury Bill Auctions
Greece will resume its monthly Treasury Bill auctions in January, the chief of the country’s Public Debt Management Agency said on Tuesday, according to Dow Jones Newswires.
"After a pause in December due to the season, we will be resuming...
Economy
Deficit Of Trade Balance Dropped by 38.4% in October
The deficit of the trade balance in October recorded a drop of 38.4%, according to Hellenic Statistical Authority’s announcement, based on provisional data.
Specifically, the deficit of the trade balance in October amounted to 1438.3 million euro in comparison with...