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Piraeus confirms deal with Intrum for 27bln in NPLs as Eurobank launches SPV
EconomyBankingthat will manage the real estate owned assets portfolio, which contains properties worth around 1 billion... purchase price for Ιntrum’s acquisition of the majority share of the platform has been set at 328 million euros, with both parties aiming to close the transaction on October 1, 2019. The end result
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Institutions warn of fiscal target being missed, reforms slowing
EconomyProgrammepackage, which was set to enter into force in January 2020. This involves not broadening the tax base as planned and not creating an extra 1 percent in fiscal space for growth-enhancing reforms... estimate will have a fiscal cost of more than 1 percent of GDP in 2019 and beyond. These range from
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BoG report highlights economic challenges, proposes way forward
Economythat the European Commission estimated in its latest post-programme report in the volume of 1 percent... confirmed while capital adequacy remains satisfactory at 15.5 percent, with the Common Equity Tier 1... out a set of policies that will transition Greece towards a “sustainable, extroverted growth model led
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ND sees first tax cuts as fair, hopes to build case for lower fiscal targets
PoliticsGreek Politics, submitted to Parliament under the emergency procedure on Friday, is set to secure the support..., pointing to the 10 percent reduction in ENFIA for properties worth more than 1 million euros. SYRIZA... of taxpayers own properties worth more than 1 million euros. Vesyropoulos gave examples of how much
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NBG reports net profits of 122 mln in Q2, highlights successful bond sale
EconomyBankingquarter, falling by 1.4 billion euros QoQ. This was driven by sales of NPE portfolios totalling 1... the end of 2015, NPE reduction has reached 8.6 billion euros. The bank has set a target to reduce.... The negative formation in Q2 came to 1.36 billion euros, which includes 1 billion euros from the ‘Mirror
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ND and SYRIZA square up as Novartis inquiry gets underway
PoliticsGreek Politicsto believe that strong and substantiated denials from Frouzis will set the tone for the inquiry... their support drop by 1 percentage point since September, but New Democracy is on 38.5 percent, with SYRIZA... taxation, 10 percent identified law and order issues and 8 percent investment. Just 1 percent pointed
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Xi's visit carries promise of closer Sino-Greek political, economic ties
PoliticsGreek Politicsand Central and Eastern European countries, known as the “17+1” (17 CCE countries plus China). The next leaders’ meeting for the “17+1” is in April and Mitsotakis is expected to attend the gathering... that the Greek government achieved the goals it had set ahead of Xi’s visit to Athens, which came just a few
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Despite differing views IMF and EC see no immediate debt sustainability concerns
EconomyProgrammepercent, from 1 percent in March 2019, with short term growth seen 2.1 percent on average in 2019-2020... balance is expected to be 1 percent of GDP lower in 2019-2025 in the IMF’s view, reflecting the Fund’s... needs stay comfortably below the long term GFN-to-GDP threshold, set by the Eurogroup at 20 percent
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New pension system, lower primary surpluses among govt targets for 2020
PoliticsGreek Politicselections), which will be the equivalent of 0.5 pct of GDP, or 1 billion euros, and the new... pension fund EFKA. The ruling will set the precedent for all back-pay claims, and is expected... will apply from January 1, are seen by the government as ways of securing or winning over the support
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Exposure to tourism sector a concern for banks despite effort to save season
EconomyBankingin the first half of 2019 stood at around 8 billion euros and catering came to around 1 billion euros... on loans that were fully serviced up to the end of 2019, and 250 million will be set aside... to the plan, year-round hotels and campsites will open on June 1, followed by summer season hotels
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