Friday May 22, 2015 Search
Weather | Athens
14o C
09o 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)  
Banks will be asked to revise their restructuring plans
Lessons from Israelís tech miracle
Piraeus sells its Egyptian subsidiary
Inequalities grow among Greeks
Greece sees reforms deal with lenders in next 10 days, spokesman says
Greece expects to reach a cash-for-reforms deal with its creditors in the next 10 days and intends to meet all its payments in June, the government's spokesman said on Friday. "We think cond...
Merkel stamps out brief optimism on Greece after Tsipras talks
German Chancellor Angela Merkel said that greater efforts are needed to unlock bailout funds for Greece after late-night negotiations with Greek Prime Minister Alexis Tsipras failed to yield...
Inside News
SOCCER
Four-goal Panathinaikos thrashes Asteras away
Panathinaikos thrashed Asteras at Tripoli to gain an early advantage in the race for a spot in next seasonís Champions League qualifiers, as the Super League play-offs got under way on Wedne...
SOCCER
Greek Cup TV rights up in the air
The Appeals Court upheld listed Forthnetís case against the allocation of the Greek TV rights for the Greek soccer cup in the 2013-2016 period to a Cypriot company that later resold them to ...
Inside Sports
EDUCATION
Consensus is key
The education bill that has been put forward by Greeceís leftist-led government has to be the subject of extensive public consultation. Even more importantly, it needs to be approved in Parl...
COMMENTARY
The other inequality: how the state spends our money
Growing inequality between rich and poor across the world has rightly become the focus of much investigation and analysis. The Organization for Economic Cooperation and Development underline...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. Greece sees reforms deal with lenders in next 10 days, spokesman says
2. Merkel stamps out brief optimism on Greece after Tsipras talks
3. Banks will be asked to revise their restructuring plans
4. Lessons from Israelís tech miracle
5. EOPYY struggles for funding, sees overdue debt rise
6. Negotiations drag as Tsipras seeks political support at Riga meeting
more news
Today
This Week
1. EOPYY struggles for funding, sees overdue debt rise
2. Lessons from Israelís tech miracle
3. Banks will be asked to revise their restructuring plans
4. Merkel stamps out brief optimism on Greece after Tsipras talks
5. Consensus is key
6. Greece sees reforms deal with lenders in next 10 days, spokesman says
Today
This Week
1. The Greek-German breakthrough that didnít come
2. Phony dilemma
3. Greece came close to not paying IMF
4. Conspiracy madness
5. National self-awareness put to the test
6. Albanian demarche raises concerns about possible territorial claims over Greece
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.