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Budget primary surplus outperforms in 2-month, tax revenues underperform in Feb
EconomyMacroeconomyThe budget primary surplus was confirmed at 2.14 billion euros in the 2-month period of 2017, down by 25.2 percent from last year’s figure of 2.85 billion, the Finance Ministry (MoF) final budget execution bulletin revealed on Friday.
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ECB increases ELA ceiling for Greek banks by 400 mln for first time since summer 2015
EconomyMacroeconomyThe Bank of Greece (BoG) said on Thursday that the European Central Bank increased the Emergency Liquidity Assistance (ELA) ceiling for Greek banks by 400 million euros to 46.6 billion following a request made by BoG.
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Current account deficit narrows to 271 mln in Jan
EconomyMacroeconomyGreece’s current account (C/A) deficit narrowed to 271.1 million euros in January 2017 from 771.4 million a year ago, Bank of Greece (BoG) figures showed on Thursday.
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Primary cash surplus almost halves to 1.1 bln in 2-month
EconomyMacroeconomyGreece’s central government primary cash surplus fell to 1.11 billion euros in the 2-month period of 2017 from 2.09 billion a year ago, Bank of Greece (BoG) figures showed on Friday.
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Eurosystem funding down by 1.1 bln in Feb, ELA increases for first time since April
EconomyMacroeconomyGreek banks’ Eurosystem funding headed south for the twentieth straight month in February, albeit at a slower pace by 1.13 billion, following a decrease by 3.61 billion in the previous month, the Bank of Greece's (BoG) monthly financial statement revealed on Monday.
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Multiple potential benefits await Greece if it can clinch QE eligibility
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EconomyFeaturesIf it manages to conclude the second review, Athens has its heart set on the inclusion of Greek government bonds (GGBs) in the European Central Bank’s quantitative easing (QE) programme, which requires the eurozone central bank to deem Greece’s debt sustainable.
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Stournaras presents debt relief plan with maximum benefits for Greece, minimum cost for lenders
EconomyMacroeconomyDuring a speech at the Delphi Economic Forum on Saturday, Bank of Greece (BoG) governor Yannis Stournaras presented the outcome of an exercise conducted by the central bank showing that mild debt relief in the form of smoothing interest payment for EFSF loans coupled with a primary surplus of 2 percent of GDP as of 2021 is consistent with Greece’s debt sustainability.
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Stable deposit rate in Jan, slight uptick in loan rate
EconomyMacroeconomyThe new time deposit rate for Greek households fell by 1 basis point (bp) for the second straight month and landed at 0.69 percent in January, Bank of Greece (BoG) figures showed on Friday.
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Eurosystem funding drops at sharper pace of 3.6 bln in Jan
EconomyMacroeconomyGreek banks’ Eurosystem funding fell at an accelerating pace of 3.61 billion euros in January after a drop of 1.87 billion in December, the Bank of Greece's (BoG) monthly financial statement showed on Wednesday.
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Credit contraction rises to 1.6 pct in Jan on extended deductions of 885 mln
EconomyMacroeconomyThe rate of credit contraction in the Greek market accelerated to 1.6 percent in January after remaining stable in the previous months, Bank of Greece (BoG) figures showed on Tuesday.