Economy of Greece

Greek deposit outflows slowed to 3 billion euros ($3.2 billion) in March, two people familiar with the matter said, suggesting the European Central Bank will need to keep drip feeding loans as talks on an economic accord sputter.

Hellenic Post (ELTA) released on Monday a series of collectible stamps, dedicated to railway transport in Greece.

The series, titled "Greece's Railways," depicts four of the most emblematic locomotives used for about a century until the 1970's.

The images have been designed by painter-engraver Myrsini Vardopoulou.

Greece's OPAP, Europe's second biggest gambling firm based on market value, on Monday reported an annual 41 percent rise in 2014 net profit, boosted by the launch of new games and cost savings.

A six-year recession at home had hurt OPAP in previous years but cost containment by its new management which took over after the firm was fully privatised has helped.

Greek government races to “seal” the list of reforms and present it to partner’s economic team.

Brussels Group is the one to give the “green light”   for the list to be submitted to EuroWorking Group and later to Eurogroup which will give the final approval for probably part of the 7.2 billion euro dose.

Fitch Ratings has downgraded Greece’s long-term foreign and local currency Issuer Default Ratings to “CCC” from “B,” according to announcement released by the organization on Friday.

The downgrade came out earlier than the next scheduled review, a fact which indicates a sense of urgency.

Read below the announcement of the agency

Stocks were split down the middle between gainers and losers on Friday as the market nervously observes the simmering tensions between the government and the eurozone, with the outcome of negotiations being all the more uncertain. The benchmark added half a percentage point to bring its weekly gains to 3.26 percent.

Aegean Airlines reported a 14% increase in passenger traffic with more than 10.1 million passengers in 2014. The carrier's consolidated revenues reached 912 million euros in 2014, up 7% from 2013. Net profits were at 80.2 million euros, rising sharply from 52.5 million euros in 2013, helped by an 11.7 million euros in tax provisions.

Cash is drying up in the Greek market and this is being felt increasingly at the local bourse as well, as the benchmark saw all its Tuesday gains evaporate on Thursday on relatively low turnover.

By Jeff Black

European Central Bank Governing Council member Yannis Stournaras said a Greek exit from the euro area isn?t an option and wouldn?t help the country?s economy in the long term, as he urged the government to act quickly to agree on reforms with the country?s creditors.

One of the oldest and most respected cinemas in Athens has opened its doors once more. “Astor”, opened in 1947, right after the Nazi occupation and was running until 2005. Now Stadiou Street will once more have its flagship cinema. The location used to host Athens’ possibly earliest cinema screen since 1908, called “Pallas”.