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Newsletter 63 - 19/02/2016
, Eurobank is due to publish results on March 2, followed by Alpha and Piraeus on March 3 and 9... (ELA) ceiling for Greek banks by 100 million to 71.4 billion. Since mid-August, the ECB has cut the ELA... of 97.3 percent, with the company market value currently standing at around 100 million. Expressions
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The key elements of the draft agreement between Greece and lenders
EconomyProgrammeof the special tax for sea-farers. 3) Implementation of measures for a reduction in the spending... a period of 30 days is set to at least 10 in companies employing more than 20 and less than 100 workers, at least 10 percent of the workforce for firms employing between 100 and 300 employees and at least
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Greek banks' NPL selloff gathers speed
EconomyBankingto provide viable domestic financing, something that the enormous NPL pile of over 100 billion euros... to Sweden’s Intrum. Intrum offered 3 cents on the euro of loan principal sold, which translated into 45... million in Q2, and landed at 26.8 billion, beating the target for the month by around 100 million euros
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Piraeus Bank sells first real-estate backed NPE portfolio worth 1.95 bln
EconomyBanking, and will lead to the bank’s NPE ratio falling by more than 100 basis points. Upon completion... position in Greek non-performing credit, a market with circa 100 billion euros of NPEs”, said Alon... formation has declined. The bank reported that year-on-year, NPEs have been reduced by 3 billion
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Surge in Covid-19 deaths as work on adjusted 2021 budget nears completion
PoliticsGreek PoliticsMore than 100 Greeks who contracted Covid-19 died over Saturday and Sunday, making it the worst... treated in special ICU units. Around 100 of these ICU beds remained available. In a further bid... climbing to 200 pct. The primary deficit will be at 3 pct of GDP, and the general government deficit
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Discussion over PEPP, SGP draw attention to rising yields
EconomyFeaturesof the debt threshold to 100 pct, from 60 pct currently. It also proposes keeping the 3 pct of GDP... bond, 2.5 billion in a 30-year note in March, 3 billion in the 5-year in May and 2.5 billion euros... the proposal appears more flexible at first, for countries with debt levels above 100 pct
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From pipe dreams to power cables: the changing map of Greece's energy ambitions
Agorato importing cheaper Russian natural gas via Turkey[3] under the terms of a recently signed 13-year... Europe Facility for the Greece-Cyprus leg, 100 million euros from Cyprus’s Recovery & Resilience Mechanism and a potential 100 million euros from an agreement between Greece’s IPTO and an Israeli
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Minor changes in Greek time deposit rates, higher movements in corporate loans
EconomyMacroeconomystraight month. Last year the time deposit rate fell by 100 bps and currently stands well below the competitive yield of the 3- and 6-month T-Bills of 2.5 and 2.97 percent respectively. However, the Greek... by 3 bps to 1.12 percent in January. On the corporate loan front, two major movements were evident
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A closer look at Greece's revised proposals to lenders
EconomyProgrammeinclude: 1) Increase in the corporate income tax rate by 3 percentage points to 29 percent from 26... to a total number of 35,000 VLTS that are expected to be installed in the second half of the year. 3... recorded profits above 5 million euros. 3) Increase in the solidarity levy rates for annual income
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Greece's updated proposals to lenders and how they compare to previous efforts
EconomyProgramme, employer social security contributions (SSC) were reduced by 2.9pp and employees’ by 1pp. 3) Increase... for supplementary funds from 3 to 3.5 percent with estimated revenues at 120 million in 2015 and 250... with expected revenues at 410 million in 2016 (from 450 million in the previous proposal. 3) Increase
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