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Newsletter 22 - 03/04/2015
may utilise this additional 200 million. It remains unclear whether other state agencies will proceed... members and MPs, but he may now be reaching the point where he has to lead from the front. Economic... with a strong degree of certainty. The same goes for something like cuts to auxiliary pensions, which
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Tsipras steps in amid concern deal with lenders slipping away
PoliticsGreek Politicsthe technical details the institutions are looking for. The strong criticism of Finance Minister Yanis..., told the SYRIZA-affiliated newspaper Avgi that the coalition would need to reach a deal in early May... the conditions are in place for funding to be released following the next finance ministers’ gathering on May
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Tsipras points to debt relief roadmap as deal clincher
PoliticsGreek Politicslaunched a strong attack on lenders in a speech to SYRIZA MPs on Tuesday but there was also a clear indication in his address of how a compromise with lenders may be reached. It is true that Tsipras’s.... At the same time, though, Tsipras did not close the door on an agreement. As strange as it may seem
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Audit of Greek debt adds to pressure on Tsipras in creditor talks
PoliticsGreek Politicstaking up her position, may have made Prime Minister Alexis Tsipras’s task of reaching an agreement... and its lenders – may not be a coincidence. Konstantopoulou has used her institutional role... this debt to protect banks. Clearly, this has strong implications for Greece’s current discussions
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How Greek banks were left on the brink
Agorawere oversubscribed more than 1.5 times amid strong interest - primarily from international... of the week. At the time of the release of Q1 results in the second half of May, Greek banks..., will be delayed by at least 2-3 quarters. This means that the raising of further capital may be needed
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PMI falls to 46.9 pts in June in ten straight months of contraction
EconomyMacroeconomyGreece’s Manufacturing PMI eased by 1.1 points to 46.9 in June from 48 in May, according to Markit... to strong competitive pressures and efforts towards new customer attraction. It is noteworthy... – to fall even faster than May” Markit noted.
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IMF preliminary DSA finds Greek debt unsustainable, points to need for debt relief
EconomyProgrammein May 2014, the IMF had projected debt to GDP ratio at 127.7 percent in 2020 and 117.2 percent in 2022... of Greece fell to less than 1 billion at the end of May against a target of 5 billion in 2015 and 8... strong assumptions about labor market dynamics and structural reforms, while debt to GDP ratio would
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Yes or no, complex political developments lie ahead for Greece
PoliticsGreek Politicshe needs broader support for any agreement to be concluded as he may have to turn to opposition... and banking level. If Tsipras refuses to support the creation of a national emergency government, which may..., unless he or she has a strong standing among leftists. There are few such figures available
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Strengthened Tsipras shows willingness for deal with lenders after "No"
PoliticsGreek Politicsa difficult relationship with Tsipras, was replaced by Fofi Gennimata as PASOK leader. Tsipras may see.... The prime minister’s efforts may be facilitated by Finance Minister Yanis Varoufakis’s resignation... the strong “No” vote as a springboard for a deal and will be interpreted by lenders as a gesture
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Car sales rise by 21.7 pct in June for fifth straight increase above 20 pct
EconomyMacroeconomyat a slower pace, by 21.7 percent in June from 27.9 percent in May, according to the Hellenic Statistical... in the past four years (since May 2011). Passenger cars, up 22.1 percent to 11,040, make up more than 86... in the 3-year period until 2012. According to market sources, the strong growth rates in the first half
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