Total credit in Greece shrinks 5 pct y-o-y in May

Total credit in Greece shrank 5 percent year-on-year in May, with the pace of decline accelerating from the previous month, Bank of Greece data showed on Thursday.

Credit extended to the government fell 14.9 percent after shrinking by 4.5 percent in April, the central bank said.

Lending to businesses and households also declined by 3.5 percent compared to a 3.7 percent decline in April.