According to FT Deutschland, eurozone leaders are preparing a larger than expected rescue fund (‘XXL bailout package’) to be validated by the end of November at the latest. Same source notes that modifications to the Greek bailout and the program planned for Cyprus as well as a second Spanish request for aid could all be…
FinMin Yannis Stournaras told Reuters that “we estimate the funding gap that would be created if we get the two-year extension at €13-15bn” adding that the fiscal gap to reach its 2013-14 targets remained at €13.5bn, which most likely refers to the recently discussed cost cutting measures of €11.5bn and additional revenues of €2bn. According…
“According to the preliminary data for July, it seems that things are improving compared to the previous months”, the Government Spokesman Mr Stefanos Stefanou stated regarding public finances. Invited to explain a previous statement he made regarding the fiscal deficit, the Government Spokesman said: “without taking measures and based on the data for the first…
According to Hellenic Statistical Authority (ELSTAT), turnover index in retail trade eased 9,2% y-o-y in May (Apr: -11,6%, Mar: -15,1%) and 8,3% m-o-m. The most notable y-o-y movements were in: retail sale not in stores turnover (down 22,3%), clothing & footwear turnover (down 19,3%), furniture, electrical equipment & household equipment turnover (down 16,9%), and pharmaceutical…
Even after forming a coalition government, this will not entirely remove uncertainty around the success of Greece’s fiscal and structural adjustment efforts, is the comment of Eurobank EFG Equities. The Research Department of Eurobank identify the following main challenges in the short-term: 1) Some level of programme renegotiation and eventual outcome (potential agreement for a softer form…
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