Multi-speed Europe

The European Stability Mechanism (ESM) on Monday announced the completion of the eighth transfer of income earned by central banks on holdings of SMPs and ANFAs to Greece, worth approximately 603 million euros, as part of a debt-relief package.

Despite the political drama, France, the second biggest economy in the eurozone, has finally managed to adapt the country's minimum general retirement age to the changed demographic realities.

The images of massive protests and strikes in Paris against the controversial measures could be seen as an indirect reminder of the painful progress achieved in Greece.

Finance Minister Christos Staikouras will be attending the Europgroup and Ecofin meetings in Brussels on Monday and Tuesday, respectively.

Greece achieved the second highest growth rate in the eurozone in the fourth quarter of 2022, compared to the same period in 2021, according to data published by Eurostat on Wednesday.

The Greek economy outperformed the European Union average for a second year in succession in 2022, securing a growth rate of 5.9%, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday. According to Eurostat's provisional data, the growth rate in the eurozone was 3.5% and in the European Union 3.6%.

Greece's annual European Union-harmonized inflation rate fell to 6.5% in February from 7.3% in January, Eurostat said in its flash estimate on inflation trends on Thursday.

This was the fourth lowest rate in the eurozone last month.

The European Financial Stability Facility (EFSF) decided on Thursday to reduce to zero the step-up margin accrued by Greece for the period between June 17 and December 31, 2022, as part of the medium-term debt relief measures agreed for the country in 2018.

The value of this eighth reduction amounts to 122.5 million euros, it said in a statement.

Bulgaria will be the subject of a new report summarizing the country's achievements since 2019, when the Cooperation and Verification Mechanism was terminated. This new report should show progress on the rule of law.

"We Continue the Change" (WCC) and "Democratic Bulgaria" (DB) accused the other 5 parliamentary represented formations of a conspiracy against the admission of Bulgaria to the Eurozone and the implementation of the justice reform.

Skroutz is taking another step toward becoming the "Greek Amazon," as its online shopping platform, Skroutz Marketplace, is now able to ship products to all eurozone countries. It will soon have an English version too.