ATHENS The Greek parliament voted on Wednesday to launch a diplomatic campaign to press Germany to cough up billions of euros in damages for the Nazi occupation of the country in World War Two, an issue Berlin says was settled long ago.
* Greek banks eliminate emergency borrowing from Bank of
ATHENS Fashion magazine Vogue hit the newsstands in Greece on Sunday, relaunched after a seven-year absence as publishers bet that the country's economic recovery after a debt crisis will revive an appetite for glossy fashion and lifestyle prints.
* Alpha Bank swings to 0.4 mln euro loss in Q4
(Adds details, CEO comment)
ATHENS, March 8 Greece's largest carrier Aegean
Airlines has raised 200 million euros ($224.20
million) from an oversubscribed bond offering, the banks leading
the deal said on Thursday.
ATHENS Greece's third-largest lender Eurobank on Thursday reported lower full-year 2018 net profit as operating income declined, but said it was on track to deliver on a plan to transform its business by year-end.
ATHENS Greece's economy shrank in the last three months of 2018 after expanding for nine consecutive quarters, government data showed on Thursday, with the annual pace of growth also slowing.
ATHENS A recovery in Greece's housing market gained momentum in the last quarter of 2018, central bank data showed, suggesting that a recovering economy and growing foreign interest might lift property prices further.
* Residential property values rise 2.5 pct y/y in Q4
* Economic recovery, strong foreign interest reflected in
* Prices had declined by 42 percent since 2008 peak
By George Georgiopoulos
ATHENS, March 5 A recovery in Greece's housing
market gained momentum in the last quarter of 2018, central bank
data showed, suggesting that a recovering economy and growing
foreign interest might lift property prices further.
Property accounts for a large chunk of household wealth in
Greece, which has one of the highest home ownership rates in
Europe at 80 percent, versus a European Union average of 70
percent, according to the European Mortgage Federation.
Apartment prices rose 2.5 percent in the fourth quarter
compared with the same period in 2017, Bank of Greece data
showed, with the recovery accelerating from a downwardly revised
2.1 percent increase in the third quarter of last year.
More specifically, prices rose by 4.2 percent year-on-year
in Athens, where home-sharing platforms like Airbnb and a
"golden visa" programme - a renewable five-year resident's
permit in return for a 250,000-euro ($285,000) investment in
real estate - have grown very popular.
Prices had slid 1.0 percent in 2017 from a year earlier,
taking the cumulative fall since 2008, when the country's
protracted recession began, to 42 percent.
"It (new data) is a further confirmation of the uptrend in
market prices, with Athens starring after an increase of 4.2
percent," National Bank economist Nikos Magginas said Tuesday.
"It's the result of rising demand and a shrinking stock of
available-for-sale residential real estate."
A projected rise in real disposable income of about 2
percent this year, coupled with improving economic sentiment and
nascent signs of a pick-up in demand for mortgage credit, should
further boost real estate prices in 2019, Magginas said.
Greece's market has been dampeneed by property taxes imposed
to plug budget deficits, tight bank lending and a jobless rate
still around 18.5 percent, the highest in the 19-nation euro
But economic prospects have improved since 2015 when Greece
signed up to a third bailout package worth up to 86 billion
euros ($107 billion). The over-extended country emerged from its
latest bailout in August last year and is now relying on markets
to cover its financial needs.
Greece's 180 billion euro ($203.99 billion) economy expanded
for a ninth straight quarter in July to September last year, and
at a faster pace than the quarter before, mainly driven by
stronger consumer spending.
Following is a table on Greek apartment prices from the
Central Bank of Greece:
2013 2014 2015 2016 2017 2018 Q4
Index 69.5 64.3 61.1 59.6 59.0 59.9 60.5
Change y/y % -10.9 -7.5 -5.1 -2.4 -1.0 1.5 2.5
New (up to 5 years) 71.4 66.8 63.0 61.2 60.7* 61.7 62.5
Change % -10.9 -6.5 -5.6 -3.0 -0.8* 1.7 2.7
Old (older than 5 years) 68.3 62.8 59.8 58.6 57.9 58.7 59.3
Change % -10.8 -8.1 -4.7 -2.0 -1.2 1.3 2.3
source: Bank of Greece
($1 = 0.8824 euros)
(Reporting by George Georgiopoulos
Editing by Mark Heinrich)
ATHENS, March 4 Greece's largest carrier Aegean
Airlines will proceed with a sale of bonds on March
5-7 to raise up to 200 million euros ($226.86 million) for down
payments on new Airbus aircraft and the construction of
a new pilot training centre.