Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: At its meeting yesterday, the ECB surprised markets with a bolder than expected comprehensive package of monetary stimulus aiming to boost domestic economic activity and counteract heightened risks on its price stability objective.
GREECE: Official discussions between the Greek government and the mission heads in the context of the 1st programme review will continue today with the agenda focusing on the NPL resolution framework, restricted professions and the new Authority for Public Revenues. According to the local press, also involved parts in official discussions aim a preliminary staff level agreement on the conditionality attached to the review to be reached by March 20th and the relevant legislation to be approved by the Hellenic Parliament by April 21st, when an informal Eurogroup is due to be held.
SOUTH EASTERN EUROPE
CYPRUS: According to the revised estimate of the Statistical Service, GDP growth came at +0.4% QoQ/+2.7% YoY in Q4-2015, bringing FY GDP growth at +1.6% in 2015.
ROMANIA: Inflation dipped to -0.2% MoM/-2.7% YoY in February down from -0.8% MoM/-2.1% YoY in January.
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