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Unpaid taxes keep rising, tax audits short of targets
EconomyMacroeconomytax debt of 1 billion by the end of June. The same target of 1 billion has also been set... taxes due, underperforming the full year target set at 50 percent. On tax audits and collections... temporary audits correspond to 73.9 percent of total. The full target is set at 65 percent, implying
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Sudden jump in unpaid taxes last month takes total to almost 70 bln
EconomyMacroeconomythat the first-half target of legacy debt collections of 1 billion set by the Ministry of Finance (MoF... year, the target has been set at 25 percent, with the year to date rate at just over half the target... a weak performance in July, yet they remain well below the annual targets. Those targets were set
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ECB stress tests and what they will mean for Greek banks
Economyprovisions. A capital benchmark of Common Equity Tier 1 (CET1) of 8 percent was set for this pillar... was set at CET1 of 8 percent for the baseline and 5.5 percent for the adverse scenario. The aggregate... on banks’ static balance sheet at the end of 2013. However, the ECB is due to release another set of data
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Parliament's bailout probe has potential to be politically toxic
PoliticsGreek PoliticsParliament is set to discuss in the next few days (possibly on Monday) a proposal by SYRIZA and Independent Greeks MPs to set up an inquiry into the circumstances in which Greece signed up to both... forces. It is a perhaps not such an uncanny coincidence that the parliamentary inquiry is set
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New prior actions may prove obstacle as Athens talks intensify
PoliticsGreek Politicswill have to pass a third set of prior actions before the agreement is sealed. Athens insists... set of prior actions when it became clear the farmers' taxation in particular was causing..., which is due to be ready by October Product and service market liberalisation, as set out
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No let up ahead in terms of fiscal demands for new Greek government
EconomyProgrammeto generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super-reduced rate was set at 6 percent for pharmaceuticals, books and theatre and a reduced rate of 13..., with a targeted set of actions including reduction in headcount and procurement. 9) Tax
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Tsipras identifies debt relief, bank recap and attracting investments as key goals
PoliticsGreek PoliticsPrime Minister Alexis Tsipras set out three priorities for his government once the first bailout...-November. The three goals set by Tsipras were: Debt relief, bank recapitalisation and attracting... to set up a mediatory body to reach out of court settlements between lenders and customers who cannot
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economyitems excluding loan provisions and profits. The bank said the full set of Q2 results... at the end of September. We set out below the key trends visible in the results presented by the two... the domestic economy is set to enter into recession as of Q3. Banks’ asset quality would be among the key
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Coalition in rush to wrap up pending bailout issues
EconomyProgrammeto receive the 10 billion euros set aside for bank recapitalisation. Although not defined yet, the next set of prior actions – beyond those included in the multi-bill due to be voted on Thursday... of the current social security contribution scheme. The second omnibus bill for the first set of 49
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Eurogroup gives Greece another week to agree measures, keeps tranche and recap funds on hold
EconomyProgrammesector issues as well as the pending measures from the first set of milestones in the course... billion euros for bank recapitalisation from the implementation of the second set of prior actions... of foreclosures, as well as the first set of milestones should be resolved and implemented
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