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EC
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Economy
Greek VAT gap narrowed 22.4 pct to 4.9 bln in 2014, EC report shows The European Commission (EC) published a report on Tuesday examining the evolution of the VAT gap in EU countries based on the most recent data available, from 2014.
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EconomyProgramme
In updated DSA, EC sees Greek debt as unsustainable if no relief measures implemented In its compliance report for the first programme review, the European Commission (EC) included an updated debt sustainability analysis (DSA). This takes into account the milder recession and higher fiscal outcome in 2015 and lower bank capital needs.
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Economy
EC expects milder recession of 0.3 pct in 2016, sees debt to GDP at 178.8 pct in 2017 In its spring economic forecasts released on Tuesday, the European Commission (EC) lowered its estimates for Greek GDP contraction to 0.3 percent in 2016 from 0.7 percent expected in early February. EC noted that the slower than initially anticipated recession this year is largely due to the more moderate adverse trends in the second half of 2015.
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Economy EC sees resilience in Greek economy, urges additional measures in 2016 and 2017 In its winter economic forecasts published on Thursday, the European Commission (EC) aligned its GDP estimates with those incorporated in Greece’s 2016 budget calling for GDP growth in 2015 and contraction of 0.7 percent in 2016.
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Economy EC sees milder Greek recession in 2015, debt ratio to climb to 200 pct in 2016 In its autumn economic forecasts published on Thursday, the European Commission (EC) revised its estimates on the Greek economy to take into account the uncertainty surrounding the bank holiday and the imposition of capital controls in late June.
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Economy EC study: VAT gap in Greece at 34 pct, more than double the EU average The European Commission published a study on Friday that examines the evolution of the VAT gap across the EU according to the latest available data for 2013.
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EconomyProgramme
Conditions for Greek ECCL reportedly outlined in German document The German Parliament (Bundestag) is expected to approve on Thursday the extension of the Greek bailout programme by two months, according to press reports.
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EconomyMacroeconomy
EC sticks with 0.6 pct growth for Greece in 2014 but also sees C/A deficit In its winter economic forecasts released on Tuesday, the European Commission (EC) notes that recent data support expectations that Greece should return to growth in 2014. Confidence indicators continue to improve, whilst hard data releases suggest the first signs of recovery.
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Economy
Eurozone periphery condemned to low wages, demand, EC study suggests A research paper by an economist at the European Commission’s Directorate General for Economic and Financial Affairs (DG ECFIN), which was initially published online this week by accident, withdrawn and then released again the next day, provided more fuel for the austerity debate in the euro area.