Great Recession in Europe

UK Economy Plunges into Recession!

Preliminary figures released by the Office for National Statistics (ONS) have revealed that the British economy has officially entered a recession in the latter half of 2023. The grim data indicates a contraction in GDP for two consecutive quarters, marking what economists term as a "technical recession."

Greece plans to raise up to €10 bln from debt markets in 2024

Greece plans to raise up to €10 billion from debt markets via short- and long-term bond issues next year, its debt agency PDMA said on Friday.

Outlining its 2024 strategy, PDMA said Greece plans to repay ahead of schedule more bailout loans and reduce the amount of T-bills in circulation.

Consumer mood continues to improve

Consumer sentiment rose for a fourth consecutive month in December, the survey carried out jointly by the Central Bank and the Turkish Statistical Institute (TÜİK) has shown.

The consumer confidence index advanced 2.6 percent month-on-month after rising 1.1 percent in November to touch 77.4 points.

Any index figure above 100 indicates optimism among consumers.

Greece pays off more dues early

Greece proceeded on Friday with the early repayment of two installments of bilateral loans, as it had long planned, almost halving its financing needs for the next two years, while deflating the cushion of cash reserves, which was designed to decrease after the recovery of investment grade.