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Greek gg primary cash surplus at 2.2 bln in 2014, arrears down to 3.75 bln
EconomyMacroeconomyof December, 803 million lower than the end-November figure of 4.56 billion and 1 billion below.... In particular, the evolution of long-term securities in 2014 relates to: 1) Two bond issues... billion in the 11-month period and mainly reflects: 1) A reduction in the bank support scheme guarantees
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Greek gov't tables draft law on installments for unpaid taxes: Here's what's in it
EconomyMacroeconomythe collectability of public revenues. Tax arrears created until March 1 2015 may be included... security contributions past due until February 1, 2015. There is an elimination of penalties... be submitted by the end of April and require the payment of SSC as of February 1. According to the latest
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Updated Greek reform proposals see 2015 primary surplus reaching programme target 3 pct
EconomyProgrammeby consumption and investment expenditure. Unemployment is seen dropping by more than 1 percentage point... interventions will fetch the anticipated revenues. We highlight the following: 1) Taxation with targeted.... On social security reforms, the MoF reiterates interventions with a total cost in excess of 1 billion euros
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As hopes of April 24 deal fade, differences between Greece and lenders remain
PoliticsGreek Politicsof 751 euros in two stages. The coalition foresees the minimum wage rising to 650 euros on October 1 and then increasing again, to 751 euros, on July 1 next year. Differences Another issue on which... 880 million euros to pay to the IMF (183 million on May 1 and 697 million on May 12). It also has
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S&P downgrades Greece, sees economy shrinking by 1.5 pct in 2015
Economyand the economy has contracted by close to 1 percent over the past six months, despite weaker euro and lower...) for GDP growth of 1 percent to a contraction of 1.5 percent in 2015. In addition, S&P expects... on May 1 followed by another payment of 760 million on May 12. S&P thinks that the government
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Greece deal hangs in balance as IMF sees major differences
PoliticsGreek Politics) agreed to the institutions' target of a 1 percent of GDP primary surplus for this year. Tsipras did..., according to the IMF spokesman. Lenders want Athens to cut spending on pensions by 1 percent of GDP... raising an extra 1.8 billion euros, or 1 percent of GDP. Rice also said that the IMF technical team
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Newsletter 30 - 12/06/2015
stemmed from time deposits, while sight and savings recorded outflows of 2.9 and 1 billion... on some issues, such as lower fiscal targets for the next few years (1 percent of GDP for 2015, 2... and 1.8 billion euros (1 percent of GDP) next year. We must be clear that this is a package
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How Greek banks were left on the brink
Agoraloss reserves - LLRs) against credit risk rose by more than 1 billion euros in the course of Q1...-for-sale portfolios. As a result, banks’ Basel III Common Equity Tier 1 (CET1) ratios, which ranged... at the end of last year. Following the 1 billion euros in additional provisions recorded in Q1, the CET1
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Greek deposit rate almost stable, loan rate slightly up in May
EconomyMacroeconomymonth by 1 basis point (bp) to 1.81 percent in May from 1.82 percent in April, according... in May. On corporate lending, there were two marked movements: 1) A drop by 30 bps in loans for amounts over 1 million to 4.68 percent, which is the lowest reading since October 2010. 2) A rise by 47 bps
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What this week's VAT changes mean for household budgets and public coffers
EconomyProgrammerates applied to islands starting from October 1 for islands with higher incomes, which are also the most popular destinations, to be extended to the other islands as of Jun 1, 2016. This would result... on hotels will also be effective as of October 1. However, since VAT rate on catering has been moved
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