Tuesday December 23, 2014 Search
Weather | Athens
13o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Moody's upgrades Greek banks to stable

Credit rating agency Moody's on Tuesday upgraded the Greek banking system from negative to stable and said the country's economy would return to growth this year after a six-year recession.

"The outlook for the Greek banking system has been changed to stable from negative, reflecting expectations of a return to growth of the domestic economy in 2014-15 after six years of contraction," the agency said in a note.

It added that the Greek economy will register real GDP growth of 0.3 percent in 2014 and 1.2 percent in 2015

The agency said that "structural reforms are progressively transforming Greece into a more competitive export oriented economy from a consumer-led growth model."

Greek banks in recent weeks have succeeded in raising fresh private capital after a damaging rollover of state debt in 2012.

And the government in May hopes to begin debt relief talks next month with its EU-IMF creditors after achieving a primary surplus last year.

EU data agency Eurostat last week confirmed that Athens had achieved a 2013 primary budget surplus -- the balance before interest and stripping out bank support and other payments -- equal to 0.8 percent of GDP.

Earlier this month, Greece returned to medium-term international bond markets for the first time in four years.

However, Greek bonds still carry junk status, unemployment is soaring, and Athens is still saddled with a debt mountain equal to 175 percent of GDP, according to Eurostat. [AFP]

ekathimerini.com , Tuesday April 29, 2014 (17:55)  
October data show fleeing bondholders
Expired debts to the state soar to more than 72 bln euros
First four contracts to fund small firms signed by IfG and banks
Investors putting plans on hold
Govt seeks better result in second presidential vote as bribe claim probe shelved
With all political parties now actively preparing for the prospect of snap elections, MPs are to vote in the second ballot of a critical three-phase presidential vote at noon on Tuesday. The...
Civil servants to grade evaluation scheme
As of Monday, Greek civil servants are now able to have a say in the public sector evaluation scheme that is currently undergoing fine-tuning by the Ministry of Administrative Reform. By log...
Inside News
SOCCER
Special day for Abidal, lucky one for PAOK
PAOK scraped through its Livadia challenge beating Levadiakos to remain on top of the Super League for Christmas, one point ahead of Olympiakos that enjoyed a great game at Kalloni and offer...
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
Inside Sports
INTERVIEW
Klaus Regling stresses debt sustainability through commitment to reforms
BRUSSELS The man who is responsible for the loans to Greece as managing director of the European Stability Mechanism (ESM/EFSF), Klaus Regling, is the only high-ranking European official w...
INTERVIEW
Crisis of confidence will come back again and again, says Thomas Piketty
Hes treated like a rock star wherever he goes to lecture. His book Capital in the 21st Century, a study on income and wealth inequality from the 18th century to the present, recently tran...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. October data show fleeing bondholders
2. Expired debts to the state soar to more than 72 bln euros
3. First four contracts to fund small firms signed by IfG and banks
4. Investors putting plans on hold
5. Govt seeks better result in second presidential vote as bribe claim probe shelved
6. Civil servants to grade evaluation scheme
more news
Today
This Week
1. Greek parliament vote in balance after Samaras election offer
2. Euro shaky on ECB and Greece, dollar keeps edge
3. Prosecutor gathers depositions in Independent Greeks 'bribe' probe
4. Government accuses SYRIZA and Independent Greeks of 'clear alliance'
5. Klaus Regling stresses debt sustainability through commitment to reforms
6. Draghi starts squaring QE circle in month of persuasion for ECB
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. High stakes
3. Europe's drama in Greece needs final act to avoid tragedy
4. On the edge but not gutless
5. Greek PM offers compromise solution with elections by end-2015
6. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.