Late-2000s financial crisis

Attempts by the eurozone’s 20 largest banks to anticipate the outcome of European Central Bank stress tests continued in earnest in the first half, as lenders boosted equity levels and set aside more money for bad loans.

Greece plans to lower its 2015 primary surplus target of 3 percent only marginally, sticking "close to" the number in its budget on Monday, a finance ministry official said on Friday.

The official was responding to reports of a bigger cut to accommodate tax relief measures.

The government of Prime Minister Victor Ponta on Tuesday approved a total cut of around 317 million euro in state spending for this year, as planned revenues from taxes have been less than expected.

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Experts of the so-called "Troika" of international lenders are set to visit Greece for what could turn into the country's early exit from the bailout program.

The officials are also to discuss the 2015 Greek budget with Finance Minister Gikas Hardouvelis.

Greek government bond yields rose to their highest level in almost two months on Monday as Athens' plans for an early exit from the country's bailout programme raised concerns about its future financing and debt relief.

The government has been guilty on more than one occasion of allowing citizens’ expectations to grow past the levels of possibility when it comes to troika supervision and negotiations with international lenders for lightening Greece’s debt load.

Greece’s government bonds fell for a third day, pushing 10-year yields to the highest level in six weeks, amid concern the nation is seeking to become self- financing and put its budget controls at risk.

By Yiannis Papadoyiannis

Greek banks are set to see their capital bases receive a considerable 3-billion-euro boost with the European Bank Authority’s recognition of their deferred tax assets by the end of the month.

Greek companies’ attempts to lure investors are being held back by next month’s European Central Bank health check of its lenders, which is weighing on local stocks.

Executives from 31 listed companies held three days of meetings with investors at the annual Greek Roadshow last week in London, at Bloomberg LP’s European headquarters.

Civil servants in Cyprus on Thursday called off strike action after the government shelved plans to tax lucrative one-off retirement bonuses as part of efforts to reduce the budget deficit.

Public sector unions backed out of the industrial action that had been set for Friday after President Nicos Anastasiades assured them during a meeting that the disputed tax was off the agenda.