Category: General

Greece Expands Power Grid to Islands

By , May 21, 2021 12:34 am

Greece switches its biggest islands to mainland electricity grid

Greece is committed to renewable energy targets, and at the same time trying to resolve power issues on many of the islands, by connecting them to the mainland power grid. Cables are being drawn on the sea beds along with new power distribution stations on the larger islands thus connecting them with the mainland grid.
The diesel power generators, which were proven to be inadequate especially during the summer months, are being switched off in the Aegean. The aim is to lower costs and carbon emissions, in line with Greece’s renewable energy target for 2030.
On the video below, Al Jazeera’s John Psaropoulos reports from Naxos island, Cyclades, in the Aegean Sea.

Reasons To Cheer

By , April 12, 2019 7:06 pm

[ Update to Investing in Greece ]

Greece’s long-term credit rating was raised in March by Moody’s by two notches from B3 to B1 with a stable outlook. In the process, Moody’s noted that the “ongoing reform effort is slowly starting to bear fruit in the economy.”

In a recent note, Global X ETFs exchange provider, notes “Greece’s stock market is off to a strong start in 2019, helped by the country’s broad economic growth reaching its fastest annual increase since 2007. In Q1, the markets were up 15.2% and forecasts put 2019 GDP growth at annualized 2.4%, versus Europe at just 1.3%”.

“Further powering returns was a recovery in consumer confidence to almost pre-crisis levels,” said Global X. “Private consumption helped drive in strong performance during Q1 within the communication services sector and the casinos & gaming sub-industry. Such improvements follow labor gains with unemployment falling by 3% in 2018 and national account data reflecting improvements in labor productivity.”

in 2019, we see a healthy rise on the indicators shown below. The GREK fund is a good indicator since represents 17% weight to consumer discretionary stocks. This means strengthening of the Greek consumers.

Sources: Global X | benzinga


Investing in Greece

By , March 18, 2019 9:19 pm

[Related: Reasons to Cheer ]

Investing in Greece is one way of helping the country’s economy, while may also be beneficial to your wallet. However, there is a caveat that no investment is safe like money under the mattress or in the fridge. With that in mind, *Always do research before investing*

Recently, Greece issued its first bonds since exiting its bailout program, and the demand was received as a strong indicator to what is viewed as another positive step toward normalcy.

Athens’s debt office sold about €3 billion in sovereign bonds, the country’s first bond issue following various bailout packages. Those bonds yield 3.6%.  In addition, the country is also planning an 11% increase to its minimum wage, a sign that the days of austerity maybe coming close to an end.

There are signs of improvement in the economy, and one ETF [GREK] could continue to garner the attention of tactical investors this year if Greece makes good on expectations of steady economic growth – GDP growth forecast of 2.5 percent for 2019.

“Greece’s economy will expand by around 2 percent in 2019, the influential Greek Foundation of Economic and Industrial Research (IOBE) think tank predicted on Tuesday, slightly below a previous forecast of 2.4 percent,” according to Reuters.

As an example, GREK is a single-country emerging markets exchange traded fund issued by Global X MSCI Greece ETF [GREK]. GREK plunged 30% last year, but year-to-date keeps moving up from $6.80 at the beginning of the year, to $8.20 on March 18, a rebound of +20%

GREK is a $240.87 million ETF which follows the Greek equity market with just 34 holdings, concentrated in energy and financial services. Currently it has an ETF Daily News SMART Grade of C (Neutral), and is ranked #64 of 91 ETFs in the European Equities ETFs category.


Sources: ReutersETF Daily News | Benzinga | Yahoo Finance


By , January 22, 2012 7:49 am
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