Greek FM: Greece May Tap EFSF In 2012

Greek Finance Minister Giorgos Papaconstantinou said on Tuesday that Greece may resort to the Eurozone’s rescue fund (EFSF) in 2012 if the cost of...

IMF Approves 4.1 Billion Euros for Greece

The International Monetary Fund on Monday agreed to disburse 4.1 billion euro to Greece under the country's joint IMF/EU rescue program and urged authorities...

Moody΄s Downgraded OTE To Baa3 From Baa2

Moody΄s Investors Service said on Tuesday it downgraded the long-term issuer rating of Hellenic Telecommunications Organisation (OTE) to Baa3 from Baa2. Concurrently, Moody΄s has downgraded...

Deutsche Bank΄s Top Greek Picks

Deutsche Bank said that its top picks regarding Greek stocks are Hellenic Exchanges, Motor Oil and Jumbo. It also has “Buy” ratings on Frigoglass,...

GDP Declined By 4.5% In 2010

Greece’s Gross Domestic Product recorded a 4.5% decline in 2010, according to HEL.STAT. The GDP of 2010 at 2009 prices reaches EUR 224.5bn in comparison...

Greece Toughens Laws Punishing Corrupt Tax Officials to Try and Fight Tax Evasion

Greece toughened the laws ahead of a euro zone summit expected to press Athens to step up reforms Shortfalls in tax collection are a key...

State Budget Execution Reveals Deficit Widening

Greek Finance Ministry announced that the State Budget deficit is EUR 1,028mn for the period of January-February 2011, compared to EUR 944mn during the...

Greece Skips T-Bills Auction On March 15

Greek Dept Management Agency (PDMA) said the country will not issue 3-month treasury bills on March 15, because its cash balance is adequate, according...

UniCredit: National Bank-Alpha Merger More Unlikely

A merger between National Bank of Greece and Alpha Bank looks now unlikely, says UniCredit, and “the ideal merger scenario is unlikely to happen...

Provopoulos: 2011 Will Be A Year Of Mergers For Greek Banks

The governor of Greek Central Bank said on Thursday that he expects consolidation moves in the country΄s banking sector to take place this year,...

Moody’s Downgrades Six Greek Banks

Moody’s Investors Service said on Wednesday that it downgraded the deposit and debt ratings of six Greek banks. Moreover, Moody’s downgrades National, Bank of Greece,...

Moody΄s Downgrades City Of Athens To B1 From Ba1

Moody΄s Investors Service announced on Tuesday it downgraded the issuer rating of the City of Athens by three notches to B1 from Ba1, with...

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