Thousands of workers across Greece went on a 24-hour general strike and held protests in major cities.

Macro/Political:

• Yesterday, thousands of workers across Greece went on a 24-hour general strike and held protests in major cities, including Athens and Thessaloniki. The strike caused major disruptions as public transport, trains, buses, and ferries, was halted or reduced, and many public services such as schools, hospitals, and courts were affected. The protests were organized by both public- and private-sector unions in response to proposed changes in labour laws. The government has proposed reforms that would allow occasional 13-hour workdays, extending daily shifts and offering greater flexibility for employers. Opponents argue that these changes would undermine workers’ rights, harm work–life balance, and expose employees to exploitation and overwork.

• The Greek PDMA announced that during the 13W T-Bills auction of EUR 500mn which took place yesterday, the total bids reached EUR 994mn and the amount finally accepted was EUR 600mn at a uniform yield of 1.78% (vs 1.76% in the previous 13W T-Bills auction in July 2025).
  Source: PDMA

• Inflation in Greece is expected to be 1.8% (y-o-y) and 0.6% (m-o-m) in September 2025.
  Source: Eurostat

• In August 2025, the weighted average interest rate on new deposits
  decreased to 0.31%, while the corresponding rate on new loans decreased to 4.45%. The interest rate spread between new deposits and loans decreased at 4.14 percentage points.
  Source: BoG

• The Overall Turnover Index in Retail Trade in July 2025 increased by 4% (y-o-y) while it decreased by 0.5% (m-o-m). The Overall Volume Index in Retail Trade increased by 2.1% (y-o-y) and 1.8% (m-o-m).
  Source: ELSTAT

Markets:

• Credia Bank announced the successful completion of its second Synthetic Securitization of a EUR 0.5 bn performing SME and Large Corporate portfolio (Project Perseus II) through the direct issuance of Credit Linked Notes and the sale of the Mezzanine Tranche to an entity advised by Davidson Kempner Capital Management LP. In this context, the Bank is expected to reduce its Risk Weighted Assets by c. EUR 300mn, and thus enhance its CET I ratio by c. 70bps compared to 30 June 2025, subject to all regulatory approvals.
  Source: ATHEX

• OTE announced that the disposal of its 100% stake in Telekom Romania Mobile Communications to Vodafone Romania has been successfully completed, combined with the transfer to Digi Romania of TKRM’s prepaid business, certain spectrum rights and part of the tower portfolio. The combined enterprise value stood at EUR 70 mn.
  Source: ATHEX

Macro/ Political:

• Yesterday, Cyprus officially launched its Competitive Electricity Market, allowing consumers to choose their electricity supplier for the first time. The government said the move aims to lower electricity costs and encourage the use of renewable energy. Energy Minister George Papanastasiou noted that competition among suppliers should benefit consumers, though he urged companies to also offer services to households, not just businesses.

• Inflation in Cyprus is expected to be 0% (y-o-y) and -0.4% (m-o-m) in September 2025.
  Source: Eurostat