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Moody΄s upgrades Greece΄s sovereign bond rating to Caa2 from Caa3 Moodys upgraded Greeces long-term issuer rating as well as all senior unsecured bond and programme ratings to Caa2 and (P)Caa2 from Caa3 and (P)Caa3, respectively.The outlook has been changed to positive from stable.

Tourist arrivals and revenues on a positive course

"We are not surprised by the increase in tourist revenues," the president of the Federation of Hellenic Associations of Tourist and Travel Agencies Lyssandros Tsilidis said in statements to the Athens Macedonian News Agency.

ELA lowers ceiling for Greek banks

The Bank of Greece announced that the ELA ceiling for Greek banks was lowered by EUR 0.6bn to EUR 43.6bn until July 5th. The actual use of ELA funding stood at EUR42.1bn at the end of April as per the latest published data by the BoG.
DW

Italys center-right dominates local elections

Italy΄s center-right dominates local electionsItalys center-right parties looked set to win in major municipal contests, including Genoa. The local elections have been bad for former premier Matteo Renzis PD and the populist 5-Star Movement.

Albanias Socialists on track for win in low-turnout election

Albania’s Socialists on track for win in low-turnout electionThe ruling Socialist Party has emerged as the likely winner of Albanias latest parliamentary election. Preliminary resuls show a small majority for the Socialists in parliament.
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S&P upgrades PPCs rating at CCC with negative outlook

S&P raised the credit rating of the utility to CCC/Negative from CCC-/Watch Negative.

Cosco to construct new floating tank in Piraeus

According to an announcement of the Piraeus Port Authority.

PPC signed new electricity supply agreement with Larco

This new supply agreement allow Larco breathing room so that it can meet its obligations to PPC

Alpha Bank fully repaid Pillar II bonds

Alpha has no obligation to appoint a govt representative to its BoD.

The island of Tilos wins EU Sustainable Energy Award

EU Commissioner for Energy and Climate Action Miguel Arias Canete bestowed the awards in the framework of the EU Sustainable Energy Week.

Regling: IMF will not participate in next aid programmes

"It is also the issue of what we are going to do with the ESM", he said.

Greece 22nd out of 28 EU countries in innovation

According to the main findings of the latest Innovation Scoreboard, published by the European Commission.

Commission targets Greek privatization revenues of 17bn until 2060

Athens must collect a sum of 5.7 billion euros from sell-offs and state asset utilizations, of which 4.1 billion should be banked this year and another 1.1 billion in the first eight months of 2018.
IMF reiterates need for more realistic fiscal path

IMF reiterates need for more realistic fiscal path

IMFs spokesman Mr. Rice said yesterday during a press briefing that the Fund considers the primary surplus target of 3.5%-of-GDP up to 2022 as realistic.
ECONOMY
Commission: Greece needs debt relief measures

Commission: Greece needs debt relief measures

European Commission in its compliance report related to the 2nd review expressed its concerns about the long term sustainability of the Greek debt as well as on the countrys ability to achieve high primary surpluses for the decades to come.
DEUTSCHE WELLE
Emmanuel Macron, Europe΄s climate hero?

Emmanuel Macron, Europes climate hero?

French President Emmanuel Macron is following through on his vow to "make our planet great again" by pledging 30 million euros for climate research. DW asked two prominent French climate scientists what its all about.

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