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Greek current account deficit rises to 709 mln in February
EconomyMacroeconomyforecasts for a C/A deficit of between 1 and 2 percent of GDP. The BoG's latest estimates point to a surplus of about 2 percent in 2014. The key risk to the BoG’s short-term projections lies... the latter incorporates a rise in tourist arrivals by 10.2 percent, The year-to-date C/A deficit stood at 1
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Bookies see clear win for SYRIZA in EU elections but not in local vote
PoliticsGreek Politics, the odds for a SYRIZA win with a 2 percentage point (pp) handicap stand at 1.40 (from 1.42) compared... with the former’s odds having a 1 pp handicap at 1.36 and the latter’s at 2.80. Sportingbet offers for the first... to 4.30 for the SYRIZA candidate Gavriil Sakelaridis. In the first round, their difference stood at just 1
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Primary surplus inches up to 2.9 pct in Greece's 2015 draft budget
Economysector. Kathimerini also noted that the Finance Ministry anticipates increased revenues by 1 billion... execution in 2014. The 8-month budget primary surplus stood close to 2 billion euros, outperforming the target by almost 1 billion. However, 8-month revenues fell short of their target by 107 million
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Greece's 2015 budget: A breakdown of all the key figures
EconomyMacroeconomy(1.8 percent of GDP), lower than the 2 percent incorporated in the draft budget and the 2.3 percent... following a downward revised modest growth of 1 percent in 2014) and a higher growth in exports (+5.2... in negative territory (-2 percent). Unemployment is seen easing by 0.7 percentage points (pp) in 2014
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In effort to reach new deal, Greek government cannot ignore liquidity constraints
EconomyProgrammebonds will not be eligible for ECB funding purposes as of March 1. This development follows an ECB... and sight recorded inflows of around 1 billion each. However, banking sources stress that outflows...). Local media had indicated that the state’s remaining cash reserves do not exceed 2 billion euros
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Greek time deposit rate falls to 1.82 pct in Dec, lowest during euro membership
EconomyMacroeconomymaturity for amounts above 1 million euros. A similar drop was also evident in November. As a result... mid-2010. However, the current rate remains around 2 percentage points higher than the euro area average... 250,000 and 1 million euros). In the household lending segment, the housing loan rate reversed
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The government decisions that could shape the future of Greek banks
Economy. HFSF currently holds: 1) a minority stake in Eurobank (35.41 percent) and 2) a majority stake... place in Eurobank on February 1, when Nick Karamouzis was named new non-executive chairman... of this intervention was estimated at 2 billion euros. Since further details have not been disclosed
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National Bank posts net loss of 1.1 bln in Q4
EconomyBankingincome (PPI) fell 12 percent quarter on quarter (QoQ) to 363 million in Q4 reflecting a 2 percent drop... ratio at 45 percent. Gross loans rose by almost 1 percent QoQ and 2.7 percent YoY to 72.1 billion..., loan to deposit ratio deteriorated by 2 pps QoQ in Q4 to 95 percent for the group and to 83 percent
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Fitch downgrades Greek IDRs three notches to CCC, sees damage to recovery
Economy: 1) A break-down in negotiations between Greece and its creditors leading to alternative solutions... including bonds held by the private sector. 2) Arrears to the IMF would not in and of themselves... bonds probable. In contrast, the following developments could result in a rating upgrade: 1
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Moody's downgrades Greek bond rating, sees chances of accident rising
Economykey drivers behind the downgrade: 1) The high uncertainty related to whether Greece will reach an agreement with its official lenders in time to meet upcoming debt repayments. 2) The significant... in the near term given the prevailing downside risks, Moody’s could upgrade Greece’s rating in case of: 1
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