Greece Able to Call Its Own Tune

The euro crisis started in Greece, and it won’t be over until doubts over Greece’s prospects are erased. That this is still some way off was clear from Greece’s latest bailout review, the longest and most attritional yet. After seven months of haggling, the troika of official lenders—the European Commission, the European Central Bank and the International…

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Primary surplus may top €1bn

A senior Greek official told Reuters that 2013 primary surplus may exceed previous forecasts and top €1bn. Same source noted that “data from the general government, social security organisations and hospitals are good and this is why the surplus may exceed €1bn”. It is reminded that the latest official forecast (incl. in 2014 budget) calls…

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Merkel: “I don’t see debt haircut for Greece”

In an interview with FAZ on Saturday, German Chancellor Angela Merkel said, “I don’t see [another] debt haircut for Greece…and it always astounds me how carelessly this topic is discussed. Such a step could unleash uncertainty in other parts of Europe.” German Finance Minister Wolfgang Schäuble backed her position, insisting another debt write down “won’t…

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Fitch upgraded Greece to ‘B-‘; Outlook stable

Fitch upgraded yesterday Greece’s Long-term foreign and local currency IDRs to ‘B-‘ from ‘CCC’. The Short-term foreign currency IDR has also been upgraded to ‘B’ from ‘C’ and the Country Ceiling upgraded to ‘B’ from ‘B-‘. The Outlook on the Long-term IDRs is Stable. The upgrade of Greece’s sovereign ratings by one notch to ‘B-‘…

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Eurogroup decisions and statement on Greece

The Eurogroup concluded yesterday that the necessary elements are in place for the approval of the next EFSF installment, which amounts to €7.5bn. The disbursement will take place in two sub-tranches: A first sub-tranche of €4.2bn will be approved by the EWG and the EFSF BoD in the following days, following the completion of the…

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Προβάλλοντας αποτελεσματικά το ελληνικό τουριστικό προϊόν

Τη δημιουργία μίας πρωτοποριακής εταιρείας – εργαλείου αποτελεσματικής προβολής του ελληνικού τουριστικού προϊόντος, ανακοίνωσαν σήμερα από κοινού ο Σύνδεσμος Ελληνικών Τουριστικών Επιχειρήσεων (ΣΕΤΕ), το Ξενοδοχειακό Επιμελητήριο Ελλάδος (ΞΕΕ) και η Ένωση Εταιριών Διαφήμισης και Επικοινωνίας Ελλάδος (ΕΔΕΕ), παρουσιάζοντας τον νεοσύστατο φορέα «Marketing Greece A.E.»   Στα ευρύτερα πλαίσια της εθνικής στρατηγικής για τον τουρισμό, στόχος…

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General government cash surplus at €72m in 2M’12 (MoF)

Greek Ministry of Finance announced yesterday that general government surplus, according to cash data, stood at €72m in 2M ’13 from €2,295m in 2M ‘12, with primary surplus at €1,375m down 57.1% y-o-y, incorporating: -state budget (i.e. central government) deficit of €1,007m (2M ’12: surplus of €597m) and primary surplus of €268m (2M’12: €1,459m). -extrabudgetary…

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