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Newsletter 31 - 19/06/2015
moderate outflows of around 2.9 and 1 billion, respectively. More than 70 percent of total withdrawals... BoG data, the banks’ non-performing exposure (NPE) ratio rose by almost 1 percentage point to reach... NPE exposure of 100 million, banks would have to set aside about 44 million in loan provisions
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The lenders proposals on debt and funding needs that Greeks will vote on in referendum
EconomyProgrammeof 1 percent this year and 3.5 percent in 2020 and 2022. Under scenario A, with nominal GDP growth..., with gross financing needs remaining well below the 15 percent limit set by the IMF. Under the third... tranches between end June and end October. 1) The first tranche involves 1.8 billion euros in 2014
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Tsipras suffers serious knocks in prior actions vote but emerges on his feet
PoliticsGreek PoliticsGreek Parliament approved early on Thursday the first set of prior actions demanded by the country... signed on Monday in Brussels, while 64 voted against, 6 abstained and 1 was absent in the 300-seat... to marshal his party as 32 voted against, 6 abstained and 1 was absent. This means that out of 162
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Pension reform wrangle prompts Greece to consider going own way on contributions rise
EconomyProgrammefor January, after the second set of milestones has been completed, the issue is already beginning...) called for pension reform savings of 0.25 percent of GDP in 2015 and another 1 percent in 2016... in contributions could reach 2 percentage points (pp), of which 1.5 pp will burden employers (1 pp for main
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Greece stands on fault line between vicious and virtuous cycles for 2016
Agoraan extensive pensions cost saving exercise that has to deliver complete savings of 1 percent of GDP... in Yen maturing in February. The state’s budget foresees a primary surplus of over 1 billion euros... is far from over and it will once again set the tone for the New Year in the ongoing cycle that has
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First days of talks confirm gap between Greece, lenders on pensions
PoliticsGreek PoliticsTwo important developments emerged from the first set of negotiations between the Greek government... for increasing the social security contributions for supplementary pensions by 1.5 percentage points (1 point... million euros to achieve the bailout pledge for pension cost savings of 1 percent of GDP (1.8 billion
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Government faces tight schedule for amendments to bailout legislation
EconomyProgrammeGreece has a matter of days to fulfil the remaining conditions set out by the Eurogroup last week... actions by June 1, before the meeting of the ECB Governing Council on June 2, which is expected... sub-tranche. Houliarakis said that 1.8 billion euros (1 percent of GDP) of this amount will be used
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Government hopes offer of tax breaks and grants will spark growth boost
EconomyMacroeconomyin the subsidy framework is set at 500,000 euros for large corporates, at 250,000 euros for medium... study revealed that an investment of 1 euro in one quarter results in a cumulative increase of GDP... 1 billion. The two scenarios assume state subsidies of 3.5 billion. Market sources note that around
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Newsletter 98 - 02/12/2016
at the end of September, 1 percent above the target of 106.9 billion, while the respective ratio stood... index edged up 1 percent month-on-month to 71.9 in September and stands close to its mid-2002 level..., it is a set of events that cannot be dismissed out of hand. However, it continues to appear the least
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In latest review of loan quality, BoG says capital ratios to remain high after targeted NPE reduction
EconomyBankingbillion, almost 1 billion above the respective figure a year ago and mostly relate to denounced loans... respectively. Starting from a fully-loaded Common Equity Tier 1 (CET1) ratio of around 17 percent... banks are set to retain high capital ratios even under the worst-case scenario. In addition, their high
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