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Better income account helps squeeze Greek C/A deficit in January
EconomyMacroeconomyforecasts calling for a C/A deficit of between 1 and 2 percent of GDP. The 5.9-billion-euro improvement... to a surplus of about 2 percent in 2014. The key risk to the BoG’s short-term projections lies
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One night in Cannes
Agoraand received the approval of his cabinet on November 1. The ex-PASOK leader's proposal may have been... of the G20 summit in Cannes on November 2. The former wanted Greece’s membership of the eurozone... was such a concern for Venizelos, the statement he issued in the early hours of November 2 suggests
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Apartment prices fell 7.5 pct in Q1, down for the 21st successive quarter
EconomyMacroeconomyrevenues of 2 billion. The levy substituted a tax imposed only on large properties with annual... and a capital gains tax of 15 percent were introduced as of January 1, 2014. It should be pointed out... house prices of 6.2 percent in 2014, slowing to -2 percent in 2015 and to zero in 2016. Fitch's
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Here's what's in the 2015 draft budget the Greek government has just unveiled
EconomyMacroeconomy, the MoF anticipates the primary surplus will reach 3.6 billion euros (2 percent of GDP), lower than..., public consumption is seen remaining in negative territory (-2 percent). According to the MoF, domestic... as of July 1, 2014), a positive carry-over effect from GDP evolution in the second half of 2014
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Greek deposit and loan rates slide in September
EconomyMacroeconomydeposit rate led the average rate on new deposits slightly lower by 2 bps to 1.32 percent in September... loans with fixed maturity for amounts above 1 million euros, the interest rate fell 44 bps to 5.12... 3 and 2 percentage points respectively above the average euro area rates. In the other key household
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Greek deflation shoots up to 1.7 pct in October
EconomyMacroeconomyin 2014 after the -2 percent posted in May. On a monthly basis, CPI fell 0.9 percent compared... prices (-1 percent). Both the yearly and the monthly price changes in October actually resemble those..., alcoholic beverages and tobacco, displayed an increase (+2 percent). On the flipside, the highest drop
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What does a bailout exit with a precautionary credit line mean for Greece?
EconomyProgrammetypical size is expected to vary between 2 and 10 percent of the concerned country’s GDP. Surveillance... accompany the new agreement: 1) Social security fund consolidation, alignment of retirement criteria and abolition of retirement exclusions from the general aging limits. 2) Abolition of nuisance
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Greece sends reform list to creditors, here's an outline of what it's likely to contain
PoliticsGreek Politicsby the Eurogroup last Friday. According to government sources the reform list includes: 1) All... 30,000 apartments with a rent subsidy of 3 euros per square meter (54 million). 2) A large part... home (estimated cost at 2 billion euros). The Alternate Finance Minister Nadia Valavani recently
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Greece drafts reform multi-bill as talks catalyst but fiscal gap lingers
EconomyProgrammethrough the following measures: 1) An extraordinary levy either by increasing the current solidarity levy.... 2) Increase in luxury tax in cars, pools and yachts with estimated revenues of 20 million euros. 3... billion euros for a primary surplus of 1.5 to 2 percent of GDP to be achieved for 2015.
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National Bank posts losses of 159 mln in Q1 2015
EconomyBanking(PPI) eased 2 percent QoQ to 357 million in Q1 reflecting a drop in operating income and expenses... weaker NII from Turkey (down 12 percent in TL terms) and Greece (-2 percent). The lower Greek NII... III Common Equity Tier 1 (CET1) ratio eased to 12.1 percent in Q1 from 13.6 percent in Q4, mainly
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