Piraeus Bank profits at 815 mln in 9M, fees income at 489 mln
Piraeus Bank posted a net profit of 815 million euros in 9M 2025, from 882 million euros in 9M 202
FEDS Paper: Declining Search Frictions, Unemployment, and Growth Revisited
Juan Carlos Córdoba, Anni T. Isojärvi, and Haoran LiThis paper revisits the conditions under which search models generate balanced growth paths (BGPs)—equilibria where unemployment, vacancies, and job flows remain steady as search frictions decline. Martellini and Menzio (2020) claim that such paths exist only when matches are “inspection goods” and match quality follows a Pareto distribution. We show that these conditions are sufficient but not necessary.
Conflict and the climate crisis may mean it’s time to rethink what we mean by responsible investing
Melnikov Dmitriy/ShutterstockSustainable or responsible investing has experienced huge growth over the past decade. This investment approach is anchored in environmental, social and governance principles and is known as ESG.
Home vs office working: why it doesn’t have to be a battle
William Perugini/ShutterstockMore than five years into the homeworking revolution, a narrative seems to have emerged – of employees being hauled back to the office against their will. This contrasts with what COVID taught us: that people can work flexibly, benefit from not commuting, and even work for employers based far from their home – expanding the labour pool for employers.
In fact, both of these arguments are oversimplifications.
FEDS Paper: Do the Rich Really Save More? Answering an Old Question Using the SCF with Direct Measures of Lifetime Earnings and an Expanded Wealth Concept
Elizabeth Llanes, Jeffrey Thompson, and Alice Henriques VolzThe question of whether affluent households save at a higher rate than other parts of the distribution has been asked by economists on numerous occasions since the 1950s. It is standard in this research to define affluent, or “rich,” households as those with high lifetime earnings or income to better ground the empirical question in relevant theory.
FEDS Paper: Understanding Preferences for Payment Cards using Household Scanner Data
Marc Rysman, Shuang Wang, and Krzysztof WozniakWe use consumer panel scanner data to examine households' payment choices, a new application of such data. In particular, we study the long-term shift towards payment cards, as well as the role of transaction size in determining choices. We find that idiosyncratic household preferences are a key driver of payment choice.
Minutes of the Meeting of the Court of Directors held on 19 September 2025
The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
Human rights, the climate emergency, and the financial system
On 9 April 2024, the European Court of Human Rights (ECtHR) delivered a landmark ruling in Verein KlimaSeniorinnen Schweiz and Others v. Switzerland. The ruling was handed down together with two further rulings in Duarte Agostinho and others v. Portugal and others, and in Carême v. France. The ruling marked the first time the ECtHR held that insufficient climate action by a state constitutes a violation of human rights under the European Convention on Human Rights (ECHR).
It’s always been hard to make it as an artist in America – and it’s becoming only harder
About 2.4 million Americans are artists, or 1% of the workforce. Ian Forsyth/Getty Images“Being an artist is not viewed as a real job.”
It’s a sentiment I’ve heard time and again, one that echoes across studios, rehearsal halls and kitchen tables – a quiet frustration that the labor of making art rarely earns the legitimacy or security afforded to other kinds of work.
Main findings from the ECB’s recent contacts with non-financial companies
This box summarises the findings of recent contacts between ECB staff and representatives of 71 leading non-financial companies operating in the euro area. According to these exchanges, which took place between 29 September and 9 October 2025, business conditions improved slightly in recent months, but they remained consistent with only modest growth in activity, with the manufacturing sector still weighed down by tariffs, uncertainty and challenges to competitiveness. The employment outlook also remained relatively subdued. Price growth continued to moderate.
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