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  1. Building activity plunges by 35.6 pct in April, down by 75 pct since 2008
    Photo by Harry van Versendaal

    EconomyMacroeconomy

    in Attica building activity doubled to 38.6 percent in May. This is more than 10 percentage points higher than the country average. The Attica prefecture (Athens, Piraeus and suburbs) is making up 21 percent... in 2008. This means there has been a cumulative drop of 75 percent that is more than three times

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  2. Most Greeks saw income fall over last year, limiting purchasing power
    Photo by MacroPolis

    Society

    in the next quarter. The survey also showed the direct impact of lower income on consumer power. More than.... This is 11 percentage points lower than last year. For 59 percent of those who will enjoy a summer holiday.... In addition, more than half will stay in a house owned by themselves or a relative, 23 percent will choose

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  3. BoG shows lower deposit rates and a sharper drop in loan rates in June

    EconomyMacroeconomy

    . Despite the drop recorded so far in time deposit rates, they remain 60-100 bps higher than those... that for larger amounts the loan rate In Greece is 1 percentage point higher than the euroarea average... bps higher than that at year-end 2013 of 3.31 percent. In outstanding (‘old’) loan and deposit rates

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  4. Finance Ministry scrambles to correct property tax after error-strewn debut

    EconomyMacroeconomy

    of those cases, this resulted in the calculation of a property value up to 10 times higher than... percent of the total 6.15 million) paying more than 500 euros. Taking into account that each household... of more than 1,000 euros for properties it possesses, regardless of whether these properties produce

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  5. Alpha Bank reports H1 profits of 267.4 mln on one-off item
    Photo by MacroPolis

    EconomyBanking

    better than the consensus. The financial performance this year showed net loss was trimmed to 57.4.... The slight improvement mainly reflects higher deposit NII and lower funding cost, which more than offset... ratio at 40 percent (55 percent in Q2), cost of risk less than 1 percent (2.2 percent in Q2), loan

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  6. Piraeus Bank reports net profit of 164.3 mln in Q2
    Photo by MacroPolis

    EconomyBanking

    shows a delinquency less than 89 days past due. The management said that the bank’s statistical... slipped to 108 percent (and to 107 percent for Greece), higher than that of NBG at 94 percent and Eurobank at 103 percent and lower than Alpha’s at 119 percent. Eurosystem funding remained flat QoQ at 10

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  7. Vast majority of Greeks pessimistic on prospects of recovery despite coalition efforts
    Photo by MacroPolis

    Society

    they are satisfied. The level of dissatisfaction in Greece is higher than any other country surveyed... are “bad.” This is slightly higher than Ukraine, Spain and Italy. The Pew Research survey also provides...) fare worse in gaining Greeks’ trust. Interestingly, the troika performs slightly better than all

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  8. Greek unemployment rate hovers at 27 pct in June
    Photo by MacroPolis

    EconomyMacroeconomy

    since October 2013. Unemployment among females remains more than 7 percentage points (pp) higher than... figure is the lowest since 2011, while has more than doubled over the 24.4 percent posted in June

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  9. Greek primary budget surplus eases to 1.95 bln on back of lower revenues in Aug
    Photo by MacroPolis

    Economy

    surplus remains above target by 989 million euros, while the budget deficit is 1.27 billion better than... than target). Revenues and the Public Investment Budget (PIB) balance fell short of their targets.... In particular, PIB revenues dropped 15.9 percent to 3.35 billion euros, 65 million lower than target

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  10. S&P upgrades Greece one notch to B, sees growth in 2015

    Economy

    ’ on August 2 and of Fitch by one notch to ‘B’ on May 23. Moody’s rating stands two notches lower than... 20 percent lower than in 2007. The rating agency highlights that a drop in the unit labor cost... of 2 percent of GDP in the next three years, which is less than half the 4.5 percent target

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