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Newsletter 361 - 02/12/2022
signaled the fifth successive month of declining operating conditions in the Greek manufacturing... responsible for signing off on the establishment and operation of KETYAK. This was the last... between the Greek government and bankers, which has lasted for most of New Democracy’s tenure
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Kassalekis goes from blank canvas to empty vessel, blowing open progressive space
Agora) and told Greek industrialists that his party would no longer “demonise capital, but sees it as a useful... to be on an irreversible slide to the fringes of Greek politics, where the party existed until Greece’s... points. Kasselakis inherited a party that fed off a crisis that no longer exists, was held together
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NPLs: The Achilles heel of the Greek banking system
Agorafor Greek banks remains the non-performing loans (NPLs). According to the International Monetary Fund, Greek banks’ NPLs, which are defined as the loans past due for more than 90 days, remain... at 32.6 percent for the Greek market and 30.4 percent at group level. In absolute figures, Greek NPLs
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How Greek banks' capital needs could be reduced by 2.3 bln
Economyis preparing a draft bill which will provide the legal framework for the conversion of Greek banks’ Deferred Tax Asset (DTA) into tax credit. According to the proposed amendment, Greek banks will have a capital... and the settlement process that will be adopted remain the key factors that will determine Greek banks
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Greek crisis redux? Not exactly
AgoraThis week's explosion of Greek bond spreads and collapse of stocks prompted many people to have... the geometric growth of Greek sovereign bond yields almost brought Europe to its knees. Is it a Greek Crisis Redux? Not exactly. The Greek economy is not the loose cannon it was back in 2010
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Greek banks set for early ELA return in apparent precautionary move
Economy, as well as the much higher participation of Greek banks in T-Bill auctions (3 billion euros), as foreign.... Another development for Greek banks’ liquidity, according to Kathimerini, also emerged from the Swiss... translation of 1.5 – 2 billion euros on domestic deposits. Most analysts expected Greek lenders to make
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DTA may spell new trouble for Greek banks
AgoraAlmost twelve months after Greek banks’ capital increases of 8.3 billion euros and six months after... base albeit with low quality capital. For Greek banks in particular, the legal framework.... According to the article 5 of Law 4303/17.10.2014, Greek banks formed a special reserve equal to 100
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Greek talks go down to the wire as IMF raises major objections
PoliticsGreek Politicsof a Eurogroup at which eurozone finance ministers are due to reach an agreement at the Greek..., the Greek government briefed the media that Athens is upset by last-minute objections from the IMF... in the Greek proposal. The IMF is proposing an increase in the VAT rate on food service from 13 percent
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Greek banks' liquidity position at the centre of attention
EconomyAn extraordinary meeting was held on Friday afternoon to assess the liquidity position of Greek... and CEOs of the five Greek banks (the four systemic banks – Alpha, Eurobank, NBG and Piraeus, and Attica... reporters that Greek banks have a liquidity cushion of around 1 billion euros, which is considered
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The conundrum of Greek olive oil exports
EconomyFeatures, because of the convoluted way in which Greece handles its olive oil exports. Greek olive oils regularly... oils, with very few Greek options. For that, you’d have to visit a specialist deli, or your local.... Compared to other competitors, the quality of Greek olive oil is exceptional. Around 75 percent
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