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Greek primary budget surplus at 707 mln as revenues beat target in May
Economybillion). The upward revision mainly stemmed from higher revenue targets (by 1 billion) counterbalancing... exceeding 1 billion euros per month. Indirect taxes continued were in line with the target despite... period to 9.11 billion euros. VAT rebounded 1 percent in May, while the 5-month figure eased 1.3
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Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingloan provisions eased by 1 percent to 475.7 million. Top-line results mainly incorporate... by 1 percent QoQ, cost of risk remained flat at 2.6 percent. Cumulative provisions (LLRs) improved... in actual 2014 results. The Basel III Common Equity Tier 1 (CET1) ratio stood at 15 percent in Q2. Taking
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This is where Greek gov't could find cash to cover May's obligations
EconomyProgramme3-month T-Bills worth 1 billion this week. This was the third key transaction related to payment... tranches, the first of 183 million on May 1 and the second of 697 million on May 12. d) Interest... legislation to tax undeclared deposits abroad with a 15-20 percent rate, aiming to bring more than 1
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Unpaid taxes edge up by 656 mln in June for slowest monthly rise in 2015
EconomyMacroeconomymonthly rise of almost 1 billion euros in the first six months of the year, corresponding to a 14.4... billion euros, stemming from revenue collection of around 1 billion and write-offs of 293 million. The collection of 1 billion euros also incorporates the impact from the new legislation on settlement
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economyincome by 1 percent QoQ to 597 million. After a drop in Q1, expenses headed north in Q2 increasing by 1...) to 275 million. Gross loans slipped by around 1 percent QoQ to 70 billion in Q2, whilst deposits... that due to the improved liquidity conditions in Q3, Eurosystem funding slipped by around 1 billion
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Greek banks' capital actions underway, state aid seen as low as 4.7 bln
Economy(1:50) since its current market price of 0.064 euros per share is way below the minimum price of 0.30... split (1:100). NBG NBG initially announced it would seek to raise 1.6 billion from the non-preemptive... today is also due to approve a reverse split (1:15). Piraeus Following the LME outcome of around 600
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Newsletter 52 - 20/11/2015
percent of GDP in 2015 and around 1 percent in 2016. In mid-July, the government legislated... percentage points. Other reports indicated higher SSC increases of 1–1.5 percentage points for employers and 0.5–1 percent point for employees. These measures may be part of the first programme review
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Clock ticks on bailout review but big gaps remain between Greece, lenders
EconomyProgrammecontributions for supplementary pensions by 1.5 percentage points (pp), 1 pp for employers and 0.5... in contributions e.g. for 1 pp in total. This means that the government has to consider alternative measures... by 1.13 billion, there are several items worth around 1 billion (0.6 percent of GDP) in the 2016 budget
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Newsletter 73 - 13/05/2016
package of parametric fiscal measures amounting to 1 percent of GDP, including an increase in the basic... to be voted in the days ahead (another 1 percent of GDP in fiscal measures, the framework for the sale of non..., the coalition has done most of its heavy lifting for the time being. The 1 percent of GDP in further fiscal
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Greek banks on cusp of improved liquidity conditions
Agorawould no longer be eligible as collateral for ECB funding from March 1, 2015. This means..., for each 1 billion euros of deposits that is returned to the banking system, Greek banks can redeem an equivalent amount of pillar bonds with a nominal value of 1.8 billion. Assuming that this 1
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