Yesterday’s News Wrap-up includes the following:
Greece’s Public Power Corporation (PPC) will foray into the market by issuing a 500 million euro bond, with the offer scheduled to kick off on October 21st.The company is set to issue senior notes—a type of bond that takes precedence over other debts if the company declares bankruptcy and is forced into liquidation—and will go on a roadshow with the note of a 500 million-euro nominal value to mature in 2031.
Greece’s Minister of Labor and Social Security, Niki Kerameus, said there would be an incremental increase in Greece’s minimum wages after 2027, in addition to the gradual average rise to 950 euros announced by the Greek Prime Minister until 2027.
Morgan Stanley’s recent analysis, following meetings with bank management teams, government officials, and industry stakeholders, sheds light on how Greece’s banking sector might be affected by upcoming interest rate cuts.
Several Greek unions from different sectors will go on strike between Tuesday, October 22, through Friday, October 25, raising a series of demands, ranging from better pay and the signing of collective bargains. More specifically, the Panhellenic Seafarers Union declared a 48-hour strike starting on October 22. The workers demand the implementation of a collective bargaining agreement with a 12% rise in wages.
Always stay up to date with To Vima’ English Edition’s News Wrap-up.
