Bank of Greece

Once again we are witnessing pledges of a host of social benefits, and area in which Prime Minister Alexis Tsipras is by far the champion.

Undaunted after the benefits he handed out on the eve of European and local elections on 26 May failed to woo voters, he is still making promises in an effort to halt his party's downward spiral.

Greek private sector bank deposits rose in April for the second successive month, central bank data showed on Tuesday.

Businesses and household deposits increased to 134.69 billion euros ($150.61 billion) from a downwardly revised 133.28 billion in March, Bank of Greece data showed.

The major increase in short-term holiday rentals in Athens and other large cities in Greece, and the rise in the popularity of city breaks are highlighted by Bank of Greece data on travelers and their expenditure in the first quarter of the year.

Eurogroup finance ministers and Bank of Greece Governor Yannis Stournaras may be ringing the alarm bell regarding the fiscal consequences of a barrage of handouts that the government is announcing, but it appears that the PM's office has decided to press forward anyway in order to change the negative political climate.

One day after Greece's Parliament approved some 1 billion euros in pension handouts and other relief measures ahead of European and local elections next weekend, the country's central bank governor warned that the package jeopardized the budget target agreed with foreign lenders.

Hotels are mushrooming in downtown Athens as the summer season draws closer, confirming recent Bank of Greece estimates of at least 10 new units going into operation in 2019.

Addressing the International Atlantic Economic Conference in Athens on Thursday, Bank of Greece Governor Yannis Stournaras set 10 conditions for the Greek economy to achieve higher growth rates in the future.

A recovery in Greece's housing market gained momentum in the last quarter of 2018, central bank data showed, suggesting that a recovering economy and growing foreign interest might lift property prices further.

Greek private sector bank deposits dropped in January after a rise in the previous month, central bank data showed on Wednesday.
Businesses and household deposits declined to 132.93 billion euros from 134.49 billion in December, Bank of Greece data showed.

The head of the Athens prosecutor's office, Evangelos Ioannidis, on Tuesday ordered an investigation into the alleged taping by Alternate Health Minister Pavlos Polakis of a private phone conversation with Bank of Greece Governor Yannis Stournaras.