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OECD sees Greek recession continuing in 2014, slower recovery to follow
EconomyMacroeconomypercent next year. The updated OECD projections remain lower than those of the European Commission (EC... is projected to exceed somewhat the official targets in 2014-15 on lower projected growth also assuming... lower than its November forecasts. Although the 2014 estimate is in line with the EC projection
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Alpha Bank posts loss of 94.1 mln in Q1
EconomyBankingmillion euros, yet it eased 1 percent quarter on quarter (QoQ). The quarterly evolution reflects lower loan NII mainly due to deleveraging offset by lower deposit expense and funding cost. Deposit repricing coupled with lower Eurosytem funding cost is expected to have a positive impact of circa 350
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Budget execution shows primary surplus of 711 mln, 503 mln ahead of target
EconomyMacroeconomy. This is attributed to lower expenditure (by 642 million) and higher revenues (by 147 million from shortfall of 620 million to April) more than offsetting lower Public Investment Budget (PIB) balance (-129 million... is lower than the 495 million recorded in April. In contrast, the May budget deficit stood at 839
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Greek jobless rate remains stuck at 27.3 pct for third month
Economyin April, 3,600 lower than March. The cumulative drop over the past five years stands at 23.5 percent. The number of unemployed amounted to 1.3 million in April, slightly lower than the March figure by 1,300... inactives) slightly lower at 58.6 percent in April from 58.7 percent in March. This meant it remained below
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NPLs: The Achilles heel of the Greek banking system
Agoraby the EC at 24 percent, 1 pp lower than that in 2012. The BoG figure stands 2 pp higher and indicates a rise of 4.7 pp year on year. Compared to the Bank of Greece numbers, the lower NPL ratios... to the central bank for 2013, while the rate of increase (3 pp) is much lower than the respective BoG
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Most Greeks saw income fall over last year, limiting purchasing power
Societypercent), the latter reflects lower salary. In addition, 38 percent fear an additional income cut in the next quarter. The survey also showed the direct impact of lower income on consumer power. More than... their needs, while 22 percent relied on borrowed money. Lower purchasing power has also a negative impact
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National Bank reports 1.15 bln H1 profit on back of 1 bln deferred tax
EconomyBankingby lower bond NII and higher funding gap cost. Repricing of time deposits, particularly on the backbook, where spreads are 20 bps lower than new production, is expected to continue supporting NII growth.... The cash coverage ratio for the group and Greek operations stood at 56 percent. Lower loan provisions
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Eurobank reports net loss of 301.1 mln in Q2
EconomyBanking, the underlying net loss stood at 186.2 million euros, which was slightly lower than the 189.3 million posted... higher deposit NII on deposit spread improvement by 20 bps and lower funding cost. In contrast, loan... ratio is in line with that of Piraeus, but lower than the 58 and 56 percent reported by Alpha
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IMF lowers medium-term forecasts for Greek debt, 2014 financing needs
Economyat slightly lower levels at 0.7 and 0.1 percent of GDP for 2014 and 2015 respectively. Following.... The IMF’s report unveiled slightly lower estimates for the Greek general government (gg) debt to GDP... forecasts stand up to 2 pp lower than in April, at 152 percent in 2017 and 135.3 percent in 2019. On gg
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Greek primary budget surplus rises to 2.53 bln at end of September
Economyreflects lower MoM interest payments in September. Both 9-month primary and budget balances continue... reflects lower expenditure (1.96 billion euros better than target), which more than offset lower Public... million below target. The combination of lower primary expenditure and interest payment led total
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