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European Commission evaluates impact of bailout programme
EconomyProgramme: 1) Granting guaranteed contributory pensions only at the attainment of the statutory retirement age of 67 years. 2) Increasing health contributions for pensions to 6 percent (from 4 percent.... According to the Commission, the main objectives of these further reforms are to: 1) Establish
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Travel receipts up by a modest 3.5 pct in July in aftermath of capital controls
EconomyMacroeconomypercent). On the flipside, arrivals from France slipped 1 percent, while those from Russia plummeted.... If confirmed, this would mean 2 million higher arrivals than last year’s figure of 24 million and 1 million above SETE initial estimate of 25 million. In addition, direct tourism revenues are now
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The key points in Greece's new bank recap bill
Economyis allocated among preference shares and other Core Tier 1 (CET1) instruments, Tier 1 instruments, Tier 2... framework: 1) A bank that has been deemed viable by the Bank of Greece (BoG) may apply to the Hellenic... of Greece (BoG) following the submission of an updated restructuring plan. 2) The updated
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Newsletter 95 - 11/11/2016
of 23.3–23.5 percent in 2016, which is expected to fall by 1–2 percentage points in the following... in October, after a decline by 1 percent in September. The slight drop is mostly attributed... and transport prices by 2.4 and 1 percent, respectively. It is worth noting that the harmonised index
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Minor fluctuations in deposit and loan interest rates in December
EconomyMacroeconomyGreek households’ new time deposit rate edged down by 1 basis point (bp) to 0.70 percent... and 1 million euros increased by 22 bps to 5.06 percent, while that for lower amounts dropped by 14 bps to 5.28 percent. In addition, the interest rate for amounts above 1 million euros slightly
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IMF sees much scope for reform progress, particularly on tax in Article IV report
EconomyProgrammein 2019 and 2 percent in 2020, while long-term growth is expected at around 1 percent. Under an adverse scenario with no further policy reform implementation, GDP growth is seen at 1 percent... the government’s recent estimate of around 2 percent of GDP, which is expected to increase to 1.5 percent of GDP
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Bond issue decision expected as clock ticks down
PoliticsGreek PoliticsGiannousakis, the owner of the Noor 1 cargo ship which was seized with almost 2 tons of heroin on board... between 2 and 24 instalments to settle what they owe. These elements of the bill mean that many... Panos Kammenos’s intervention in the Noor 1 drug smuggling investigation. New Democracy still feels
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Athens and creditors place immediate focus on remaining key deliverables
EconomyProgrammeto some combination of: (1) a lack of cooperation between Greece and its institutional creditors; (2... of the tax-free threshold to be carried out next year along with the pension cuts worth 1 percent of GDP... programme. “Triggers for a rating upgrade could include: (1) continued successful implementation of fiscal
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CPI up by 1.1 pct in Sept for highest rise since Nov 2017
EconomyMacroeconomy(-1.2 percent) and recreation and culture (-1 percent). The month-on-month increase of 2 percent...Greece’s Consumer Price Index (CPI) rose by 1.1 percent in September after an increase of 1 percent..., the last time that the CPI went above 1 percent was in November 2017. The average CPI for the latest
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Piecemeal process likely in drive for more fiscal space
EconomyProgrammecase it will free up 0.6 pct of GDP space towards tax cuts. The government plans to direct 2 billion... hinges on securing a 1 pct of GDP reduction in the surplus goal. The Greek side is arguing that the reduction in borrowing costs alone since the start of the year has created already fiscal space of 2
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