Greek credit contracts 1.4 pct y/y in November

Total credit in Greece’s banking system contracted by 1.4 percent year-on-year in November after a 0.2 percent decline in the previous month, Bank of Greece data showed on Wednesday.

Credit extended to the government rose 3.4 percent after increasing by 12.7 percent in October, the central bank said.

Lending to businesses and households declined 2.2 percent after a 2.0 percent drop in October.