Great Recession in Europe

The residential price index increased by 2.7 percent in July from the previous month, data from the Central Bank have shown.

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On an annual basis, house prices across Turkey rose by 29.2 percent in the month in nominal terms, while in real terms, the increase was 9.9 percent, the bank said yesterday.

The current account of Romania's H1 balance of payments ran a deficit of 7.040 billion euros, by 73.44 percent higher than in the year-ago period, the National Bank of Romania (BNR) announced on Friday.

The residential price index increased by 1.7 percent in December 2020 from the previous month, data from the Central Bank have shown.

On an annual basis, house prices across Turkey rose by 30.3 percent in the month in nominal terms, while in real terms, the increase was 13.7 percent, the bank said yesterday.

Bulgaria's GDP is expected to grow by 2.7 percent this year and by 4.9 percent in 2022, according to the winter economic forecast for 2021 of the European Commission.

The Greek economy shrank a massive 10 percent in 2020, the European Commission said in its winter economic forecasts report published Thursday.

The Commission even forecasts that this lost ground will not be covered in 2021.

According to the report, Greece will achieve a 3.5 percent rebound in 2021 but predicts that growth will accelerate to 5 percent in 2022.

Austria received orders from investors amounting to 40 billion euros and Greece 25 billion euros for their new 10-year bonds

Bond sales for Austria, Greece and Slovenia won strong demand on Wednesday, joining larger peers who issued debt via syndication earlier in the month.

Austria received 32 billion euros of investor orders, eight times the 4 billion euros it will raise, and Greece received 28 billion euros of orders for new 10-year bonds.

“With this new repayment, the optimal utilization of the cash resources of the Greek State is further and immediately achieved”

Spain passed a decree forcing landlords to slash rents for coronavirus-hit bars and restaurants by up to half today and announced plans to distribute EU COVID-19 recovery funds via public-private partnerships.

The next five years could prove pivotal for the Greek economy as the government seeks via its National Recovery and Sustainability Plan to utilize resources from the European Union's Recovery Fund amounting to 32 billion euros - which could reach €45 billion together with private funds - and power the country's GDP to a new level.