Greek central bank

Greek engraver wins competition to design logo for a commemorative 2-euro coin

Here’s some good news on the “Greece-Euro” front!
Greek central bank engraver George Stamatopoulos on Thursday won a Europe-wide competition to design the logo for a commemorative two-euro coin to be unveiled in July.
According to DW, his design had been preselected by a jury alongside designs from Spain, Slovenia, Italy and Cyprus.

‘Grey Friday’: Credit rating falls, yield on 10-yr bonds up, cash balance deficit widens

 

The credit-rating firm DBRS on Friday downgraded Greece’s issuer rating to CCC from B, citing a “further increase in uncertainty over whether Greece and its creditors will reach an agreement on a program that restores macroeconomic stability and improves Greece’s cash position.”

The negative news was followed by Fitch Ratings, which affirmed its CCC grade for the country.

Greece tapped its emergency IMF reserves to pay IMF debt [Update]

By Lefteris Papadimas & George Georgiopoulos

Greece emptied an emergency IMF holding account to repay 750 million euros ($839 million) due to the international lender, a Greek central bank official said, avoiding default but underscoring the dire state of the country's finances.

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