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  1. Piraeus announces Q1 loss of 407 mln as provisions mount
    Photo by MacroPolis

    EconomyBanking

    Piraeus Bank posted a loss of 407 million euros in the first quarter (Q1) as it suffered from impairments arising from Covid and loan securitisation losses. The Q1 loss comes following a 518 million-loss on the Q4 of 2020, and compares with a 232 million-euro loss in Q1 of last year. Asset quality

    8%
  2. Jan budget execution impacted by unplanned pandemic spending and snowstorm
    Photo by MacroPolis

    EconomyMacroeconomy

    in the month. Tax refunds came to 232 million euros, short by 54 million euros. Expenditure In January

    8%
  3. Jan budget deficit confirmed at 15 mln, revenues 610 mln short and spending underexecuted
    Photo by MacroPolis

    EconomyMacroeconomy

    million euros. Income tax revenues at 1.15 billion euros were just on target. Tax refunds came to 232

    8%
  4. Significant underspend pushes 8M primary balance to 7.57 bln
    Photo by MacroPolis

    EconomyMacroeconomy

    billion euros. Revenues Net revenues at 45.14 billion euros, is above the target by 232 million

    8%
  5. Piraeus Bank profit at 284 mln in Q1, commissions income up to 160 mln
    Image via www.piraeusbank.gr

    EconomyBanking

    million euros in Q1, from 232 million euros in 2024. Loans impairments stood at 24 million euros in Q1

    8%
  6. Company closures dropped sharply during the pandemic
    Photo by Gerasimos Domenikos/Fosphotos

    EconomyFeatures

    and retail trade; repair of motor vehicles and motorcycles” which saw 8,082 closures. While that may seem... actually dropped 18.9 percent. In fact, only one sector saw an increase in the number of closures in 2020: electricity, gas, steam and air conditioning supply, which saw an increase of 26.4 percent

    8%
  7. October revenues reverse earlier shortfall, annual primary surplus in sight

    Economy

    to the targets being beaten over the last four months, even though there is a steady increase

    7%
  8. Two hurdles left for coalition this year before bigger challenges in 2014
    en_GB Photo by Harry van Versendaal

    PoliticsGreek Politics

    Greece’s coalition has two more hurdles to clear before it stumbles over the finishing line at the end of the year, exhausted and battered but not quite yet beaten. The first challenge is to pass the new property tax, which unites previous disparate levies in one charge, through Parliament. The new

    7%
  9. First round of local elections leave Greek politics finely balanced
    Photo by MacroPolis

    PoliticsGreek Politics

    Democracy’s incumbent Vassilis Michaloliakos was beaten into second place by independent Yiannis Moralis

    7%
  10. Wages index edges up YoY in Q1 after sinking by 24.8 pct since 2010

    EconomyMacroeconomy

    beaten by that of Cyprus (-7.9 percent). In addition, Greece and Cyprus are the only two countries

    7%