Search
-
European Commission review of Greek programme: The key points
EconomyProgrammeof the next sub-tranche of 1 billion (due in June) include six prior actions, namely: 1) adoption of outdoor... to be completed by the end of June (for the disbursement of the 3rd sub-tranche of 1 billion in July): 1) adoption of the necessary legislation to merge all the supplementary pension funds
17% -
With prior actions pending, PASOK showing signs of adjustment fatigue
PoliticsGreek Politicshad to complete six tasks to receive the June instalment of 1 billion euros and another six to get 1.... The first set of prior actions are: 1) adoption of outdoor trade law 2) adoption of investment.... The second set consists of: 1) adoption of the necessary legislation to merge all
17% -
A snapshot of Greek banks' ABS as ECB readies for next move
Economybillion, while Eurobank’s figure stands below 1 billion. In addition, they hold covered bonds (mainly... by Alpha and Eurobank at 3.6-3.7 billion, while Piraeus figure stands slightly above 1 billion... as collateral of uncovered government-guaranteed bank bonds as of March 1, 2015. These guarantees amounted
17% -
Greek travel receipts rise 9.1 pct in January as surplus doubles
EconomyMacroeconomyGreece's travel receipts rose by 9.1 percent in January, after a modest increase of 1 percent..., up by 1 million compared to the 2014 figure, and direct tourism revenues above the 2014 level... Chairman Andreas Andreadis recently said that the euro’s drop against the US dollar to almost a 1:1
17% -
Greece and lenders fail to bridge their differences in Brussels
PoliticsGreek Politics(roughly 1 percent of GDP) to pensions and another 1.8 billion euros per year to be raised from increases... a change in the VAT rates (6, 11 and 23 percent) with estimated additional revenues of around 1 billion... of the institutions’ demand for incremental revenues of 1.8 billion (1 percent of GDP) from VAT changes
17% -
IMF preliminary DSA finds Greek debt unsustainable, points to need for debt relief
EconomyProgramme36 billion. These additional funding needs stem from: 1) Lower fiscal targets (additional needs... targets for the next years: at 1 percent of GDP for 2015 (from 3 percent), 2 percent in 2016 (from 4.5... of Greece fell to less than 1 billion at the end of May against a target of 5 billion in 2015 and 8
17% -
The key numbers behind the latest Greek proposals
EconomyProgrammewill target net revenue gains of 1 percent of GDP on an annual basis, which is similar to institutions’ proposal. Since the changes are effective as of July 1, the additional revenues correspond to 900 million... permanent savings of 0.25 – 0.5 percent of GDP in 2015 and 1 percent in 2016, in line with the institutions
17% -
Greece and creditors try to untangle pension complications
EconomyProgrammeParliament on July 15 included the following pension-related interventions: 1) Health contributions...) for supplementary pensions retrospectively as of July 1. This means that pre-tax pensions... 1, 2015. 3) As of January 1, 2016 the state’s guaranteed social security contributions to main
17% -
These are the bailout deliverables expected from Greece in September
EconomyProgrammewithin the tenure of the caretaker government, include: 1) Finalise a medium-term technical assistance... by September 1 all supplementary pension funds into the Unified Auxiliary Insurance Fund (ETEA) and ensure that all supplementary pension funds will be only financed by own contributions from January 1, 2015
17% -
Pension reform to be one of new government's toughest challenges in next weeks
EconomyProgrammegovernment had voted on July 15 a series of pension reforms, which mainly included: 1) An increase... contributions (zero-deficit clause) from January 1, 2015. A ministerial decision for the integration of 11 supplementary funds into ETEA was signed on August 25 and become effective as of September 1
17%