Confidence in the Greek economy and the local credit system is in constant improvement, as about 1 billion euros of deposits returned to local bank accounts in September, according to Bank of Greece data released on Thursday.
The stabilization of the political climate in the country after the formation of the coalition government last June and the increasing certainty that the country will stay in the eurozone and receive the next bailout tranche from its creditors helped the balance of Greek accounts climb from 153.4 billion euros in August to 154.3 billion last month.
This constitutes a monthly rise of 0.6 percent that may not be impressive but highlights a trend that started from late June and continues steadily.
BoG data also showed that credit expansion continued to be negative, as the funding of corporations and households contracted in September by 4.5 percent on an annual basis, while the debt of the private sector to banks declined to 231.8 billion euros.
Government officials have reportedly presented troika inspectors with a plan detailing a radical overhaul of the civil service which foresees the evaluation of 450,000 public servants and th...
The City of Athens is due on Wednesday to inaugurate seven centers created to provide assistance and services to residents of the municipality.
Modeled along the lines of Citizens Advice Bur...
New PAOK coach Huub Stevens has called for unity among fans after taking charge of the Greek club whose players said they feared for their lives last season because of regular protests.
Gree...
Greek canoeing champion Andreas Kiligkardis died on Wednesday after losing his battle against leukemia.
The 37-year-old had been in a coma since last Tuesday at a hospital in Poland - where ...
For the past three-and-a-half years, the Greek political system has been dragging its feet and hemming and hawing over a relatively simple decision: which state organizations are needed, how...
Greece’s power-sharing government must find a way to stay on track.
A snap election, as suggested by some out there, would not solve the country’s problems but rather strengthen existing pol...
