GREECE
Macro/Political:
•According to the Ministry of Finance, the EU’s approval to apply the escape clause for defense spending paves the way for the addition of approximately EUR 500mn to the 2026 support measures budget. As a result, the total available fiscal space is expected to reach EUR 1.5bn. The decision also sets the stage for extending the use of the escape clause beyond 2027.
Source: Naftemporiki print edition (06 June, pg.3)
•The number of unemployed persons in 1Q25 amounted to 488,085, recording an increase of 8,7% (q-o-q) and a decrease of 15% (y-o-y). The unemployment rate in 1Q25 stood at 10.4%.
Source: ELSTAT
Markets:
•Attica Bank raised EUR 100mn at a yield of 9.375% through the issuance of a PerpNC5 AT-1 bond and EUR 150mn at a yield of 7.375% through the issuance of 10NC5 T2 bond. The total final orders book for the two transactions closed above EUR 1.1bn (AT1:EUR 430mn, T2: EUR 700mn).
Source: ATHEX
CYPRUS
Macro/Political:
•In March 2025, the Industrial Turnover Index reached 137,7 units recording an increase of 5% (y-o-y). For the period January – March 2025, the index recorded an increase of 5.8% compared to the corresponding period of the previous year.
Source: CyStat
•The Consumer Price Index (CPI) in May 2025 increased by 0,26 points (m-o-m), reaching 117.57. Inflation in April 2025 stood at- 0.2%.
Source: CyStat
