Economy

Fitch Ratings said on Friday that there is a continuing risk that euro-region nations will have their credit ratings downgraded, according to Bloomberg. David Riley, head of sovereign ratings at Fitch said that while the risk of a break-up of...

European Union regulators have asked for more concessions to encourage rival airlines to enter the Greek market, to permit the proposed merger of Aegean Airlines and Olympic Air, according to Reuters. The two companies suggested remedies to the European Commission...

The head of the European Financial Stability Facility (EFSF), Klaus Regling, said that there is no need to increase the funding of the EFSF or to restructure the debt of Greece. "The view of the International Monetary Fund, the European...

Goldman Sachs said that Greek bondholders are unlikely to get all their money back on schedule unless borrowing costs fall, according to Bloomberg. Andrew Wilson, head of fixed-income, said that unless there is a dramatic change in the interest-rate structure,...

The Greek Public Debt Management Agency announced that during the auction of EUR500mn of 13-week T-Bills conducted on Tuesday, the total bids reached EUR2,489mn and the amount finally accepted was EUR650mn. The amount sold includes a 30% noncompetitive tranche above...

A Finance Ministry official noted on Tuesday that Greece is not in talks to lengthen the repayment of its entire outstanding debt, according to Reuters. "The government has a very specific agenda ... there is preliminary agreement to extend repayment...

Fitch Ratings on Friday downgraded Greece's credit rating to BB-plus from BBB-minus. The cut puts Greece's credit rating in junk territory. The agency said the outlook for the rating is negative, which means the rating could be cut further...

Greek Public Debt Agency will proceed with the auction of 13-week treasury bills worth EUR500mn on January 18th, according to a statement on Friday. Settlement date is set for January 21st, with maturity on the 26th of April. Only Primary Dealers are...

The second Regional Business Forum between Turkey and Greece began in Komotini, Western Thrace on Friday, Anatolian news agency reports. The forum was jointly organized by Foreign Economic Relations Board of Turkey (DEIK) and the Greek Union of Chambers &...

Rating agency Standard & Poor’s said that there is a 40% probability that Greece may have to restructure its debt, according to Dow Jones Newswires. "Apart from Greece, all other euro-zone countries have an investment-grade rating, which means the risk...

Hellenic Statistical Authority announced on Thursday that the unemployment rate in October 2010 increased to 13.5% compared to 9.8% in October 2009 and 12.6% in September 2010. The number of employed amounted to 4,369,543 persons while the number of unemployed...

The Hellenic Statistical Authority announced on Tuesday that the Consumer Price Index recorded a rise of 5.2% in December 2010 compared with December 2009. The Consumer Price Index (CPI) in December 2010 compared with December 2009, increased by 5.2%. In...

The Greek Public Debt Management Agency said it sold EUR1.95 billion of 26-week treasury bills with Greece paying a yield of 4.90% during the auction of EUR1.5bn on Tuesday. The total bids reached EUR 5,100mn (bid-to-cover ratio 3.4) , while...

State budget deficit for the period January-December 2010 is EUR19.603mn, reduced by 36.5% compared to EUR30.871mn in 2009, the Ministry of Finance announced on Monday. Based on preliminary data, the btate budget execution indicates a larger than projected fiscal adjustment,...

Greek 10-year spreads hit another record high amid volatility and just ease off their new record, exceeding benchmarch German bond rates by 10 percentage points for the first time. Monday's record occurred on the eve of a euro1.5 billion ($1.96...