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  1. Wages index drops in Q2 to its lowest level since 2001

    EconomyMacroeconomy

    on wages and labor market changes. For the private sector, this mainly reflects the devastating..., it mainly includes a series of salary cuts imposed by the bailout programmes. The non-seasonally adjusted... recorded in Q1. Compared to the previous quarter, it displays a rebound by 7.7 percent, yet this mainly

    2%

  2. Signifcant underspend covers revenue shortfall for budget primary surplus to August

    EconomyMacroeconomy

    in the prior three months. Our understanding is that the reported improvement mainly reflects the payment... to 24.72 billion, 2.8 billion better than target. The bulk of this outperformance was mainly created in 3... proportionally below target. These mainly involve: 1) Grants to Manpower Employment Agency (at 32 percent

    2%

  3. Current account surplus jumps to 4.25 bln in July on SMP returns and nosedive in imports

    EconomyMacroeconomy

    published on Monday. The substantial improvement mainly reflects an inflow of 1.8 billion euros from...’ deficit mainly stems from a nosedive in imports by 35.5 percent or 1.58 billion in July, largely..., mainly stems from higher net investment income payments coupled with lower net other primary

    2%

  4. Crumbling Greek pension system threatens big fiscal gap, budget derailment
    Photo by MacroPolis

    Economy

    year. The ministry indicates that this mainly reflects lower than expected social security.... These mainly relate to pending pensions, i.e. applications for pensions for which the process has been... (mainly hospitals), 2.47 billion to private sector suppliers and more than 100 million to insured

    2%

  5. Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
    Photo by MacroPolis

    Economy

    rates. In contrast to NNI, fee income fell 5.4 percent QoQ to 72.4 million mainly weighed by increased... to 31 billion mainly driven by deposit outflows in Greece particularly in June. To counterbalance... mainly relates to negative movement in corporate loans and marked reduction in housing loans, while

    2%

  6. Current account surplus widens to 838 mln in Sept on shrinking goods deficit

    EconomyMacroeconomy

    and 3.38 billion respectively. The services’ surplus fell by 18.1 percent mainly due to lower net... in September, mainly reflecting an increase in residents’ holdings of foreign bonds and T-Bills, while... external liabilities were reduced by 9.7 billion euros, mainly due to a decrease in non-residents

    2%

  7. Notable increase in grants to social security sector leads to budget primary deficit in Nov

    Economy

    up by 30.8 and 42.3 percent respectively. In contrast, indirect taxes eased by 0.8 percent mainly.... These mainly relate to: 1) Grants to Seamen’s Pension Fund – NAT (at 76 percent of the FY target of 1... consolidation so far this year. This mainly reflects lower than anticipated PIB expenditure by 734 million

    2%

  8. Eurobank reports loss in Q4 and for 2015, management expects bank to turn profitable in 2016
    Photo by MacroPolis

    EconomyBanking

    performance, with net interest income (NII) improving 4.3 percent QoQ to 375.3 million. The NII growth mainly... accelerating to 206 million from 164 million in Q3, mainly driven by business loans. In contrast, consumer..., noting it estimates the bank to become profitable mainly on the back of mid-teen PPI growth, cost

    2%

  9. Eurobank turns profitable in Q1 for first time since Q3 2011, with net profit of 60 mln
    Photo by MacroPolis

    EconomyBanking

    to 382.8 million mainly driven by lower funding cost resulting from a reduction in Eurosystem funding... income of 63.5 million in Q1, from -7.5 million in the previous quarter, mainly related to a one... 42 million in Q1 from 235 million in the previous quarter. This mainly reflected a negative NPL

    2%

  10. Current account deficit narrows to 822 mln in April

    EconomyMacroeconomy

    . Moreover, the increase in the primary and secondary income surpluses is mainly attributed to reduced... billion, mainly attributed to improved oil balance stemming from lower oil prices. BoG figures showed... assets posted a rise by 537 million in April mainly reflecting a rise in residents’ holdings of foreign

    2%