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BoG revises growth forecast down to 3.2 pct amid growing uncertainty
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Credit growth accelerates to 3.2 pct in May, led by loans to businesses
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PBO urges continued fiscal discipline amid growing instability
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Rising bond yields a concern, but not an immediate fiscal problem
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OECD finds tax cuts linked to pandemic helped reduce wedge on labour
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Reopening of 7-year bond affirms tougher conditions on sovereign debt market
Referendum call finds Greek banks teetering on the edge
The Eurogroup rejected on Saturday the Greek government’s proposal for a one-month extension of the current bailout programme, which expires on June 30, Greek banks are facing a dramatic situation.
The challenge to the Greek banking system was immediately visible following Greek Prime Minister Alexis Tsipras's televised address announcing in which he proposed a referendum for Sunday, July 5 on the proposals put forward by the institutions.
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