Bank of Greece
Greece needs to focus on cutting government spending and improving the tax administration over the next five years, the central bank said on Thursday, echoing the country's international lenders.
In its twice yearly monetary policy report, the Bank of Greece maintained its forecast that the 183 billion euro economy would expand by 0.5 percent this year.
Alpha Bank is set to offer the lowest new issue yield from a Greek bank since the country's institutions returned to the capital markets on Thursday, helping further cement the recovery story of one of the eurozone's most troubled jurisdictions.
The Caa1/CCC/B- rated bank is marketing the three-year bond at 3.75 percent area via Citigroup, HSBC, JP Morgan and Mediobanca.
Outgoing Bank of Greece Governor Giorgos Provopoulos warned Wednesday that the country cannot just rely on its adjustment program moving forward but needs to develop its own growth plan, as the central lenders general council recommended that ex-Finance Minister Yannis Stournaras should take his place.
SYRIZA leader Alexis Tsipras met European Central Bank President Mario Draghi on Tuesday in Frankfurt where they discussed the Greek opposition partys view on how the countrys debt could be made sustainable and its objections to the appointment of outgoing Finance Minister Yannis Stournaras as the next governor of the Bank of Greece.
Rehn praises Hardouveliss appointment as senior euro officials express relief
The appointment of Gikas Hardouvelis, a non-partisan technocrat, at the helm of the Finance Ministry as part of the major shake-up of the Greek Cabinet on Monday was Tuesday welcomed by the European Unions economy chief and other senior officials in Brussels.