“The rating “S&P Global Ratings” agency today proceeded to upgrade the creditworthiness of Greece, by one notch. Thus, it becomes the third rating house, and the second of the ones eligible by the European Central Bank, which places the country just a “step” before the investment level,” noted Minister of Finance, Christos Staikouras.
“This is the 9th – in a row – upgrade of the Greek economy in the last two and a half years, despite the successive and repeated crises. The above positive development is a result – and, at the same time, a culmination – of prudent fiscal policy, prudent bond issuing strategy, high cash flow, the implementation of structural changes, the improvement of the quality of the country’s wealth through increased investment and exports, the reduction of “red” loans in the portfolios of banks, the reduction of unemployment, the improvement of the competitiveness of the economy.
However, we do not ignore the great challenges, the risks and the new data that are shaping the recent international developments. That is why we continue with responsibility and prudence to support households and businesses to the best of our ability, while remaining faithful to our central goal of achieving strong and sustainable growth, creating many good jobs and further enhancing social cohesion. ” , Mr. Staikouras concluded.
Latest News
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
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.