ENGLISH EDITION

ENGLISH EDITION

Hercules bad loan plan gets nod from SSM in major boost for banks

Bank of Greece governor, Yannis Stournaras, met with the heads of the country's lenders on Monday and briefed them on the positive outcome of talks on the issue. This is seen a being a major development for the sector as it opens the path for the sale of large-sized securitizations of bad loans within the framework of the Hercules plan that will offer state guarantees on senior tranches, once conditions in the market return to normal.

17 Μαρ 2020 13:02

ENGLISH EDITION

Economic lockdown and the one way path to state aid

The economic collapse that has been taking place in recent weeks has been unprecedented: thousands of overnight cancellations in AirBnB apartments, occupancy rates at Athens hotels at less than 20 percent, unprecedented cancellations in summer destinations, empty shopping malls, brakes drawn on trucks transporting industrial products and raw materials, large companies with a strategic role in the economy, such as Ae

16 Μαρ 2020 13:29

ENGLISH EDITION

PM Mitsotakis: If all of us do the necessary things we will not become Italy

"The next month will be very difficult" said Prime Minister Kyriakos Mitsotakis in an interview with Proto Thema newspaper. "We will have an increase of the cases and of the serious cases, some people will lose their lives, we should know that " he underlined.

15 Μαρ 2020 15:29

ENGLISH EDITION

Healthy businesses facing liquidity squeeze set for lift

Τhe central bank's main goal is to prevent one of the biggest risks posed by the new turmoil to the global economy from the coronavirus epidemic: to find and healthy and sustainable businesses suffering liquidity problems, that may otherwise reduce their operations, or even shut down, due to the deteriorating conditions.

14 Μαρ 2020 10:36

ENGLISH EDITION

Coronavirus opens up six wounds in Greek economy

Shocks to the economy are growing and forecasts are being revised lower day by day, while gloomy scenarios for GDP foresee losses of up to 2 billion euros for this year. If the coronavirus continues to spread at the same rate in the next two months, the economic downturn will be massive.

12 Μαρ 2020 12:33

ENGLISH EDITION

Coronavirus to slash up to 0.9 pct from Greek economy in 2020

The forecast drop in gross domestic product for 2020 ranges from 0.4 percent to 0.9 percent, in comparison with initial estimates for the year, according to analysts from Alpha Bank. According to the bank, this year's growth momentum, and especially the next quarter's, will be determined, by the duration of the Covid-19 epidemic and Greece's refugee crisis.

11 Μαρ 2020 14:40

ENGLISH EDITION

Ellaktor denies talk of upcoming share capital hike

In comments to analysts in a conference call on Monday, Ellaktor chairman Giorgos Provopoulos said the share came under heavy selling pressure due to "baseless" and "unethical" rumors that were circulated by certain investors. The chairman repeated that he has no intention to step down from the board.

10 Μαρ 2020 13:34

ENGLISH EDITION

Greece scrambles to shield economy from far reaching virus effects

The impact on the real economy will be determined by the duration of the epidemic and the progress made in tackling it. If the epidemic eases, with the help of improved weather, or a vaccine, then a rapid reversal of the situation can occur. Adversely, if it continues to spread, then the effects can be drastic, especially in countries with fragile economies, such as Greece.

09 Μαρ 2020 14:30

ENGLISH EDITION

Mitsotakis' visit to Germany, Austria begins new cycle of diplomacy

Mitsotakis will now seek a double reinforcement of Greece's position in Europe: On the one hand, he wants to invest in his shared understanding with Angela Merkel about the transition of the Greek economy to a phase of strong development, but also to try to bring Germany even closer to Greek positions on migration and Turkey's role in this.

09 Μαρ 2020 10:54

ENGLISH EDITION

Confirmed cases of new coronavirus in Greece rise to 73

The number of confirmed cases of COVID-19 in Greece has risen to 73, Health Ministry spokesperson and infectious diseases expert Prof. Sotiris Tsiodras said on Sunday. Six out of the seven new incidents are from the group of tourists that had visited the Holy Lands in Israel and people that came into contact with them in Greece.

08 Μαρ 2020 21:31

ENGLISH EDITION

Turkey must turn theory into practice, Petsas says

"A diplomatic marathon has already been announced in the coming days and we are waiting to see how it develops. On Monday, the prime minister will meet with German Chancellor Angela Merkel and on Tuesday with Austrian Chancellor Sebastian Kurz. Regarding refugee-migration, we are on the same grounds with Germany in order to proceed with a Dublin 4 review in August, not now, which will definitely have a burden-sharing mechanism."

08 Μαρ 2020 13:18

ENGLISH EDITION

Palmer: We are here to underscore our firm commitment to Alexandroupolis

«We are here to underscore our firm commitment to this project, to this port, to support American investment and also we are here to demonstrate our solidarity with the people of Greece and the people of this region in a difficult time» the U.S. State Department's Deputy Assistant Secretary in the Bureau of European and Eurasian Affairs, Matthew Palmer.

07 Μαρ 2020 20:13