The installment disbursement approval of 765 million euros, an amount that corresponds to the profits received by the European Central Bank and the Central Banks of the Eurozone member states from the Greek bonds is given today by the Eurogroup.
It is recalled that in the 12th report on the evaluation of Greece it was found that the country has further fulfilled the commitments it has undertaken, despite the delays in some sectors, mainly due to the difficult conditions caused by the pandemic and the devastating fires in summer.
The institutions encouraged the Greek authorities to maintain momentum and correct any delays, especially in the sectors of financial reforms, of the settlement of arrears of the public sector, of health care and justice.
Moreover, today, the Hellenic Statistical Authority is expected to announce the data on the GDP evolution of the third quarter, i.e. the period July-September, when there was a substantial recovery of tourism.
The estimates of the financial staff, based on the data available so far, are that the turnover of Tourism, for the quarter of July-September, has exceeded 55% of the turnover of 2019, reaching 10.5 billion euros, compared to 25% of turnover of 2019 (approximately 4.5 billion euros), which had been achieved in the same period of 2020.
Greek FinMin in Brussels
The Greek Finance Minister, Christos Staikouras, is going to Brussels today, in order to participate in the meetings of the Eurogroup and Ecofin.
According to the program, at noon, the Minister will have a private meeting with the President of the Eurogroup, Paschal Donohoe, and, then, he will participate in the Eurogroup meeting, where, among other things, the 12th Evaluation Report of the European institutions for Greece, which was successfully completed about two weeks ago, will be discussed.
The eurozone finance ministers will also discuss the post-program supervision reports of Portugal, Cyprus, Spain and Ireland, the conclusions of the IMF report on the eurozone under Article 4, and the European Commission proposal on the recommendations for the economic policy of the euro area in 2022. It is also planned to examine the economic and budgetary situation of the euro area, on the basis of the draft budgets submitted by the Member States for the coming year. In addition, the Eurogroup work program for the first half of 2022 will be agreed.
Latest News
BofA: Greek Banks Becoming More Appealing
Bank of America (BofA) recently increased its target prices for several Greek banks, with the target price for Eurobank raised to €2.84 from €2.76.
Internet Users in Greece Rise Exponentially, Survey Suggests
Those between the ages of 65 and 74 have shown a high rate of digital engagement, with daily usage over the past five years increasing by 61%.
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures