GREECE - Factors to Watch on October 7

 

Here are news stories, press reports and events which may affect Greek financial markets on Wednesday:

NEW GREEK CABINET NAMED, FOCUS ON ECONOMY

Greece's new prime minister George Papandreou on Tuesday named economy and finance ministers who were welcomed by analysts as a good team to hit the ground running and tackle an economy on the verge of recession.

CREDIT AGRICOLE TO RESTRUCTURE EMPORIKI

Credit Agricole aims to make its subsidiary Emporiki Bank profitable again at the end of 2011 as part of a restructuring of the Greek bank, which would include boosting its Tier 1 capital by some 1 billion euros.

ECB'S PROVOPOULOS-TOO SOON TO WITHDRAW STIMULUS MEASURES 

With the world economy's recovery in its initial stages it is too soon to start withdrawing stimulus measures, European Central Bank Governing Council member George Provopoulos said on Tuesday.

Separately, Provopoulos said at the sidelines of the IMF meeting in Istanbul that the country's deficit may reach 10 percent this year, financial daily Imerisia reported.

NBG AIMS FOR 10-15 PCT LOAN GROWTH IN 2010- CEO

National Bank aims to grow its loan book by 10-15 percent in 2010, the bank's CEO Takis Arapoglou said during a presentation of NBG's Turkish subsidiary Finansbank in Istanbul, financial daily Imerisia reported. Arapoglou said this year the bank's lending growth is seen at 7-8 percent, the paper said.

GREEK ECONOMIC SENTIMENT IMPROVES IN SEPT-IOBE

Economic sentiment in Greece improved in September, rising to its highest reading since November 2008, mainly due to stronger consumer confidence, the Foundation for Economic and Industrial Research (IOBE) said.