European debt crisis

The already very important performance recorded by Greece internationally in terms of debt-to-GDP ratio reduction will continue over the next seven years, as Moody's estimates, thanks to the strong growth of the Greek economy, the very favorable public debt profile, as well as the very good management strategy.

Bulgaria has achieved a significant milestone in its fiscal management by successfully raising an external debt of 2.3 billion euros through two separate issues on international markets. This strategic financial move not only indicates Bulgaria's solid standing in the global financial landscape but also plays a pivotal role in covering old debts and managing the national deficit.

For the first time in over a year, European Central Bank (ECB) policymakers are expected to decide against raising interest rates again when they gather in Athens on Oct. 26.

Once red-hot, inflation, driven by Russia's invasion of Ukraine in early 2022, has started to ease, while the outlook for the economy has worsened.

Over the past year, the "big four" Greek banks - Alpha, Eurobank, National and Piraeus - have repaid €31.1 billion of the €50.9 billion they had drawn from the Eurosystem, that is, the European Central Bank and the central banks of the 20 eurozone countries, in the form of loans at favorable interest rates.

Greek bond yields have fallen fast and currently the 2- and 10-year-bonds are trading at around the European average, 3.31% and 3.8% respectively.

Since the European Central Bank (ECB) started raising its rates to fight inflation, Greek borrowing costs have dropped by almost 10%, even as other eurozone members have seen their own inching upward.

Interest rates on business loans dropped in June, while consumer loans and mortgages became more expensive, Bank of Greece data show.

Greece plans four bond reopenings via auctions in the second half of the year to boost liquidity on the secondary market, the Public Debt Management Agency (PDMA) said on Tuesday.

The continuation of the economic recovery and Greece's return to investment grade after almost 13 years is what markets expect after the elections.

The European Central Bank will almost certainly deliver another interest rate hike tomorrow, pressing ahead with its fight against inflation even as the eurozone slides into a recession.

Analysts predict that ECB policymakers will copy May's move and again raise borrowing costs by 25 basis points, taking the closely watched deposit rate to 3.5 percent.

Not much progress is expected on the reform of European Union debt rules at EU finance ministers' talks on Friday, officials said, as Germany and France remain at odds over whether there should be a minimum annual debt reduction obligatory for all.