Economy
S&P lowers Greek long-term rating by one notch to CCC-
S&P lowered on Monday Greece’s long-term rating by one notch to ‘CCC-‘ from ‘CCC’ with negative outlook. Greece’s rating by S&P is now the lowest among the rating agencies with Fitch’s rating at ‘CCC’ and Moody’s at ‘Caa2’, which is equivalent to ‘CCC’.
The lenders proposals on debt and funding needs that Greeks will vote on in referendum
Greek Parliament has published (in Greek) the preliminary debt sustainability analysis (DSA) as well as another document with Greece’s financing needs and timetable of disbursements that accompanied the institutions proposal to Athens on June 25.
Economic sentiment down 0.7 pts in June, consumer confidence also falls
Greece’s economic sentiment (ESI) fell for the fourth straight month in June, when it was down by 0.7 points to 90.7 from 91.4 in May, according to the European Commission (EC).
What capital controls will mean for Greek banks, customers and the economy
As was expected, the referendum announced by the Greek Prime Minister Alexis Tsipras on Friday evening triggered a series of negative repercussions for the Greek banking system.
Referendum call finds Greek banks teetering on the edge
The Eurogroup rejected on Saturday the Greek government’s proposal for a one-month extension of the current bailout programme, which expires on June 30, Greek banks are facing a dramatic situation.
Greek stocks rise by 16 pct during week on hopes of deal in Brussels
The Greek stock market ended the week with gains of 16 percent following a relief rally in the first two sessions amid increased optimism for an agreement between Greece and its lenders.
Credit contracts by slower rate of 2.1 pct in May
Greek bank credit contraction further decelerated to 2.1 percent in May from 2.4 percent in April, according to the Bank of Greece (BoG).
Deposit outflows eased to 3.86 bln in May, balance below 130 bln
Greek private sector deposit outflows eased to 3.86 billion in May from 4.66 billion in Apr, according to the Bank of Greece (BoG).
Budget primary surplus at 1.51 bln end-May, revenues fall short by 978 mln
Greece’s budget execution figures confirmed the 5-month primary surplus was at 1.51 million - more than double compared to last year’s 707 million, according to the Finance Ministry (MoF) final budget bulletin released on Thursday.
How big is the gap separating Greece and the institutions?
The document with the prior actions proposed by lenders that was leaked on Wednesday revealed significant differences and deviations from the latest Greek proposal, which suggests the two sides have a huge task on Thursday to bridge their gaps.