Less minus is good news for Greece and Euro Area

From Bank of Greece's Press Release 26/03/2015 - Bank credit to the domestic private sector: February 2015

In February 2015, the annual  growth rate of total credit extended to the domestic private sector stood at -2.5% from -2.9% in the previous month. The monthly net flow of total credit to the domestic private sector was positive, at €74 million (February 2014: negative net flow of €773 million). Credit to corporations In February 2015, the monthly net flow of credit to corporations was positive, at €433 million (February 2014: negative net flow of €439 million) and the annual growth rate of credit stood at -2.3%, from -3.1% in the previous month. In particular, the annual growth rate of credit to non-financial corporations stood at -2.4%, from -2.7% in January 2015, while the monthly net flow of credit to non-financial corporations was negative, at €52 million (February 2014: negative net flow of €353 million). The annual growth rate of credit to insurance corporations and other financial intermediaries stood at 0.5% in February 2015, from -7.9% in the previous month, while the monthlynet flow of credit was positive, at €485 million (February 2014: negative net flow of €86 million), because of intra-group transactions. Credit to sole proprietors and unincorporated partnerships The monthly net flow of credit to sole proprietors and unincorporated partnerships was negative, at €57 million in February 2015 (against a negative net flow of €19 million in February 2014), while its annual growth rate stood at -0.6%, from -0.3% in the previous month. Credit to individuals and private non-profit institutions In February 2015, the monthly net flow of credit to individuals and private non-profit institutions was negative, at €302 million (February 2014: negative net flow of €315 million), while its annual growth rate stood at -3.0%, unchanged from the previous month. Without any risk or responsibility