Dr. Platon , Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GREECE: According to press reports, in spite of the significant number of prior actions that are still pending, a staff level agreement for the 3rd programme review is possible at the December 4 Eurogroup with a formal closing of the review and subsequent release of the next loan tranche (c. EUR5.5 billion) at the January 22 Eurogroup. Once the 3rd programme review has been closed, discussions will commence on the post-programme regime as well as the potential debt relief measures with a view to reaching an overall political decision by May or June 2018 at the latest.
SOUTH EASTERN EUROPE
BULGARIA: Bulgarian equities dropped modestly last week, with the blue chip SOFIX ending 0.44% lower on a weekly basis at 668.87 points on Friday. Meanwhile, the local and foreign currency debt markets ended little changed last week.
SERBIA: The EUR/RSD continued to trade last week within a range of 118.35 -118.90, that has been held over the last couple of weeks, closing Friday’s session at 118.40/60.
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