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  1. Banks meet overall NPE reduction target in Q1 2017, largely on write-offs
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    quarter-on-quarter (QoQ) to 103.9 billion, 1.3 billion lower than the target of 105.2 billion. However... in Q1, 1.8 billion lower than the target. In contrast, residential NPEs came in at 27.7 billion, 400... million, respectively, outpacing consumer NPLs which stood 100 million lower than target. Commenting

    5%

  2. Eurosystem funding falls by 3.58 bln in September
    Photo by MacroPolis

    EconomyMacroeconomy

    of this decrease driven by lower ELA funding. Greek banks’ Eurosystem funding has decreased... was agreed, with the majority of this fall (58.28 billion) originating from lower reliance on ELA... the reinstatement of the waiver on Greek government securities along with the lower haircut applied on ELA

    5%

  3. Eurosystem funding falls by 4.38 bln in October as ELA declines

    EconomyMacroeconomy

    , with around two-thirds of this decrease driven by lower ELA funding. Eurosystem funding to Greek banks... the third bailout programme was agreed. The majority of this fall (64.02 billion) comes from a lower... reflects the reinstatement of the waiver on Greek government securities along with the lower haircut

    5%

  4. Eurobank net profit at 61.2 mln in Q3, NPE formation negative for fourth straight quarter
    Image via www.eurobank.gr

    EconomyBanking

    at 369.3 million. This was mainly due to lower Eurosystem funding and Pillar II utilisation. On an annual... funds. The year-on-year rise was 17.8 percent, driven by lower government guarantee cost. Operating... loans edged down by 400 million to 48.3 billion in Q3 on the back of lower housing and consumer loan

    5%

  5. Final budget sees strong growth, fiscal overperformance in 2018
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    in the MTFS, with both direct and indirect tax intakes lower than initially thought at 20.77 billion and 27.39 billion respectively. Tax refunds are seen at 3.65 billion, which is significantly lower than the 5.58 billion of 2017. Privatization revenues are expected to be slightly lower at 1.11

    5%

  6. Budget primary surplus at 5.33 bln in October, beating target on revised budget figures
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    . The MoF said that the lower-than-expected expenditure stemmed mainly from reductions in earmarked revenues by 159 million, lower social security spending by 115 million, grants to hospitals by 64 million... lower than the target. PIB PIB revenue stood at 58 million euros for October. The corresponding

    5%

  7. Mitsotakis rules out roles for relatives, Tsipras mulls way out of pension cuts
    Photo by Panayiotis Tzamaros/Fosphotos

    PoliticsGreek Politics

    described lower taxes as the “main vehicle” for his party’s growth strategy. He insisted that there is room...’s lenders. He argued that this would help him convince the institutions to lower the 3.5 percent... agreed to high fiscal targets until 2023, to cut pensions in 2019 and to lower the tax-free threshold

    5%

  8. Entrepreneurs show lack of innovation, face many barriers to entry, study suggests
    Photo by Gerasimos Domenikos/Fosphotos

    EconomyFeatures

    based on opportunity is much lower in Greece compared to other innovation-driven economies (55.8... rates. Informal investors played a role in 2.9 percent of new businesses, lower than the rate for 2015 and lower than the average for innovation-driven economies (3.4 percent). The report notes

    5%

  9. Eurosystem funding rises by 786 mln in December, banknotes in circulation rise
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    was agreed. The majority of this fall (65.16 billion) comes from a lower reliance on ELA funding... on Greek government securities along with the lower haircut applied on ELA collateral, participation... four main systemic banks confirmed the trend for increasing interbank repos and a lower reliance

    5%

  10. Budget primary surplus confirmed at 1.94 bln in 2017 on expenditure fall
    Photo by Angelos Christofilopoulos/Fosphotos

    EconomyMacroeconomy

    estimate by 334 million euros to come to 20.62 billion. However, the figure fell 5.6 percent lower... percent decline in primary expenditure which came to 43.53 billion which is 983 million lower than the annual budgeted target. The MoF said that the lower expenditure was due to reductions in social

    5%