Greek current account deficit shrinks in March

Thu May 22, 2014 4:21am EDT

ATHENS, May 22 (Reuters) - Greece's current account deficit

shrank in March from the same month last year, according to

balance of payments figures released by the central bank on

Thursday.

    The deficit stood at 44 million euros ($60.12 million) from

1.24 billion euros in March 2013.

    Tourism revenues rose to 195 million euros in March from 151

million in the same month in 2013.

***************************************************************

    KEY FIGURES (bln euros)        2014         2013

    January                                     -0.295       -0.314

    February                                   -0.709       -0.684

    March                                       -0.044       -1.241

    -------------------------------------------------

    source: Bank of Greece   

($1 = 0.7318 Euros)

 (Reporting by George Georgiopoulos; Editing by Karolina

Tagaris)

Rally expected in new Greek bonds when trade begins

LONDON, April 11 Fri Apr 11, 2014 5:12am EDT

(Reuters) - Yields on Greece's new five-year bonds, sold in the bailed-out country's return to markets after a four-year absence, were expected to fall below the sale price when they began trading on Friday.

Banks managing the sale said the bonds had already begun trading over-the-counter at yields below the 4.95 percent at which they were sold, although market participants were reserving their verdict on the deal until prices appeared on trading screens. That is expected to take place on Friday but depends on when the bonds are released to those who bought them.

Greek retail workers protest Sunday shopping rules

ATHENS | Sun Nov 3, 2013 9:44am EST

(Reuters) - Retail workers protested in Athens against a relaxation of rules restricting the number of Sundays a year when shops can open, a reform demanded by Greece's foreign lenders which aims to make its recession-hit economy more flexible.

After opposition from small retailers and the Orthodox Church, the government has backed away from allowing retailers to trade on any Sunday. Instead, the new rule lets them operate on seven Sundays a year, up from two now.

Paulson hedge funds backing recovery in Greek banks

ATHENS | Mon Oct 7, 2013 4:21am EDT

(Reuters) - Funds run by billionaire investor John Paulson see Greece's recapitalised banking sector as an attractive investment play on the country's recovery after a deep six-year slump.

Encouraged by Greece's rising exports and a rebounding tourism sector, U.S. hedge fund group Paulson & Co expects the protracted recession to bottom out this year and begin recovery in 2014.

Luring Tourists Back to Greece

The New York Times

By LIZ ALDERMAN

Published: May 22, 2013

The sun was blazing above the Acropolis, draping the ivory pillars of the Parthenon in a golden sheen. The red-tiled roof of the ancient Agora museum glimmered in the heat, and a breeze ruffled the boughs of olive trees. On the rough cobbles of Plaka, a cafe-lined tourist area, crowds of camera-toting visitors paused to soak it all in.

Greece Isn’t Turning the Corner

By Megan Greene May 20, 2013 12:56 AM GMT+0300

Bloomgerg

 (Corrects Greece’s projected 2015-16 budget funding gap in 15th paragraph.)

Judging from the markets and English-speaking news media this week, Greece’s damaged economy has finally turned the corner. I doubt it.