Economy

ATHEX: Local stocks break six-day losing streak

The Greek stock market managed to hang on to its morning gains and bring an end to its six-day losing streak yesterday, with the benchmark ending the session near its day high. However, low turnover and the general weakness in investor moves suggested that Wednesday's rise was merely technical rather than anything substantial.

Dancila, in Parliament: Priorities of Romania's EU Council Presidency, based on four pillars

The priorities of Romania's Presidency of the Council of the European Union are organized on four pillars: Europe of convergence, Europe of safety, Europe - global actor and Europe of common values, Prime Minister Viorica Dancila said on Wednesday.

She pointed out that the first pillar - Europe of convergence - is based on "growth, cohesion, competitiveness, connectivity".

Emergency central bank funding to Greek banks falls in November

Emergency central bank funding to Greek banks dropped in November compared to the previous month, Bank of Greece data showed on Wednesday.

Emergency funding, which is more costly than borrowing from the European Central Bank, dropped to 2.7 billion euros ($3.06 billion) from 3.58 billion euros at the end of October, the data showed.

A few taxpayers pay most taxes

The same people who have shouldered the fiscal adjustment of recent years continue to pay the lion's share of taxes, with 90 percent of income tax paid by just 19 percent of the population, an event organized by the Economic Chamber of Greece (OEE) on the 2019 budget heard on Tuesday.

"Net FX reserves at highest month-end level since 2000"

The central bank announced this on Tuesday.

"This level of FX reserves covered 190 percent of money supply (M1) or around six months'' worth of the country's imports of goods and services (almost twice the level prescribed by the standard on the adequate level of coverage of the imports of goods and services by FX reserves)," a press release said, adding:

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