Economy
Supreme Court ruling casts doubt over property tax revenues
A Council of State ruling in January looks to have blown a 500-million-euro hole in the government’s fiscal plans. Now a Supreme Court verdict is threatening to create an even bigger shortfall in Greece’s public finances.
Electricity drives rare rise in Greek industrial production index
The Greek Industrial Production Index (IPI) had a small rebound of 0.5 percent in December following a downwards revised 5.4 percent decline in November, according to the Hellenic Statistical Authority (ELSTAT).
Greece’s first bailout, lenders and their pledge to maintain debt exposure
The Wall Street Journal and El Pais published over the weekend a revealing record of the minutes from the International Monetary Fund’s board meeting in May 2010, which sealed the organizations participation in the first Greek bailout.
Greece sees Manufacturing PMI move into growth for first time since August 2009
Greece’s Manufacturing PMI improved by 1.6 points for the third consecutive month in January reaching 51.2 points from 49.6 in December, according to Markit.
Sales season pushes November retail volume to growth for the first time since March 2010
Retail sales turnover stayed flat year on year (yoy) in November following a 2.1 percent drop recorded in October, according to Hellenic Statistical Authority (ELSTAT). The headline figure posted a non-negative yoy reading for the first time since June 2010.
Deposits up again in December but credit contraction continues apace
Greek private sector deposits increased 1.4 percent month on month (mom) for the second straight month in December with balances reaching 163.25 billion euros, according to the Bank of Greece (BoG).
Another dive for compensation in Q3 drags disposable income, consumption down
Greek household disposable income fell by 2.6 billion euros or 8 percent year on year (yoy) in the third quarter of 2013 and reached 30.4 billion, according to the Hellenic Statistical Authority (ELSTAT).
C/A balance positive by 1.4 bln to Nov, 2013 surplus in sight
Greece's November current account (C/A) balance showed the deficit marginally shrinking to 744 million euros from 753 million last year, according to the Bank of Greece (BoG).
Narrowing of trade deficit slows in November as exports fall 22.5 pct
Greece’s trade deficit narrowed 2.4 percent to 1.54 billion euros in November, while the respective 11-month figure fell 12 percent to 17.86 billion, according to the Hellenic Statistical Authority (ELSTAT).
A closer look at Greece's 2013 budget primary surplus of 603 mln
Greece’s 2013 budget execution showed a primary surplus of 603 million euros from a deficit of 3.46 billion the previous year, according to the final data released by the Ministry of Finance (MoF).