![S&P: Greek banks continue to ameliorate their balance sheets](https://www.ot.gr/wp-content/uploads/2021/06/sp.jpg)
Greek banks continue to improve their spread sheets through the Hercules (Asset Protection Scheme), in tandem with an improvement in investors’ confidence and reforms in the country’s bankruptcy code according to Standard & Poor’s.
Conversely, S&P referred to the rate of new loaning, a return to profitability and a still weak capitalization as the challenges Greece’s four system lenders face in the next year to 18 months due to the Covid-19 pandemic.
S&P foresees indexes for NPEs to ease below 20 percent by the end of 2022.
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Latest News
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Critical Week for Greece-Cyprus Cable
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Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
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ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
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Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
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Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
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ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
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Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
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Greece in Top 4 Destinations Favored by European Tourists
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Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
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First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight