GREECE
Macro Political
•Greek Prime Minister Kyriakos Mitsotakis announced yesterday in Parliament that the Greek government plans to spend EUR 25bn on defence over the next 12 years. The Prime Minister also noted the significance of investment in defence, as Russia's invasion of Ukraine threatens the stability of the entire European region. Additionally, the Prime Minister pointed out that, regardless of the fiscal budget Greece has under the EU escape clause, this will not be a reason for exaggeration, as it could create market turmoil and because economic performance is also a defence factor. Finally, the Prime Minister stated that the Greek defence industry will participate in all projects that the Ministry of Defence implements in the coming years.
Source: Capital.gr
• The Greek PDMA announced that during the 13W T-Bills auction of EUR 500mn which took place yesterday, the total bids reached EUR 957mn and the amount finally accepted was EUR 600mn at a uniform yield of 2.03% (vs 2.37% in the previous 13W T-Bills auction in January 2025).
Source: PDMA
• In February 2025, the weighted average interest rate on new deposits stood at 0.41%, while the corresponding rate on new loans decreased to 5.05%. The interest rate spread between new deposits and loans remained almost unchanged at 4.64 percentage points.
Source: BoG
