Greek credit contraction deepens in January

The annual pace of credit contraction in Greece accelerated in January compared to the previous month, central bank data showed on Thursday. Total credit shrank 2.1 percent, its pace picking up from a 1.9 percent decline in December.

Credit to the government expanded by 1.8 percent year-on-year in January, while lending to businesses and households declined 3.3 percent after a 3.1 contraction in December.