Bank of Greece

Novartis affair looms over upcoming general election

For over one year the Novartis affair has fueled constant political tensions and it will be a central issue in the forthcoming general election, which is to be held by October at latest.

To Vima on Sunday reported yesterday that Corruption Prosecutor Eleni Touloupaki (photo) has told the Judicial Council that she expects the case to be wrapped up within the next six months.

Bonds cost more than the yields show

The Greek government may be celebrating the "low" interest rates with which it has tapped the international bond markets this year, but those rates - besides being the highest in the eurozone - entail an additional cost that constitutes the collateral for investors, particularly the long-term investing funds.

BoG: Tourism drives property market higher

Tourism was the main driving force behind the recovery seen in the Greek property market in 2018, according to the annual report issued by the Bank of Greece on Monday.

"Tourism and related domains accounted for the majority of investment capital attracted, offering a boost to local markets and assisting demand for housing and retail spaces in certain areas too," the report read.

Eurobank names Zanies new non-executive chairman

Greece's Eurobank has appointed former minister of finance Giorgos Zanias as its new non-executive chairman, the lender said on Monday.
The change was prompted by former chairman Nikolaos Karamouzis's decision to depart, the bank said in a news release.
Karamouzis announced his intention last year to bow out at the end of March 2019.