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  1. Tsakalotos and Stournaras raise objections to IMF assumptions
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyProgramme

    incorporated only substantial downside risks rather than being a baseline scenario.” Specifically, Tsakalotos... suggestion for lower tax-free threshold, since more than half of Greek taxpayers do not pay personal... is significantly less than the average household number. The Greek finance minister also disagrees

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  2. Seven years of demanding the impossible in Greece
    Photo by Panayotis Tzamaros/Fosphotos

    Agora

    and the recession will be deeper and longer than expected, he warned. Blanchard’s scepticism and warnings... revenue-raising measures and spending cuts that are equivalent to more than a third of its economy and more than double what Blanchard had described as unprecedented almost seven years ago. The Greek

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  3. IMF comments, blog leave no doubt credible debt relief has to be agreed soon
    Photo by World Bank via Flickr https://flic.kr/p/bPr6Y6

    EconomyProgramme

    than levels that that have a clearly negative impact on the economy, with tax revenues falling... to be based on realistic, rather than heroic assumptions, on growth prospects going forward that could... lose more than if they had promptly faced the facts”, the Fund concludes clearly controverting

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  4. Q4 GDP contracts 1.2 pct QoQ, leading to recession of 0.1 pct for 2016
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    is worse than the 0.4 percent contraction posted in the flash estimates released on February 14... of 2 percent in Q3, which also reflected a low base effect. The Q4 figure is also worse than the flash... due to a sharp drop in services by 7.4 percent that more than offset a rise in goods by 3 percent

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  5. Revenues beat target by 3.9 pct in Feb, remain above target for year

    EconomyMacroeconomy

    in February amounted to 331 million euros, 83 million or one-third higher than target. As a result, net... into account, the better than expected revenue performance in January, the 2-month gross revenues... exceeded the target by 1.7 billion euros largely due to higher than expected revenues from corporate

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  6. Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
    Photo by MacroPolis

    EconomyBanking

    , the NPL stock declined further by more than 1 billion QoQ to 24.38 billion in Q4 from 25.35... was more than offset by loan deleveraging and further pressure on loan spreads. For the whole year, NII... of 2016. Gross loans increased by more than 1.4 billion euros QoQ to 66.6 billion in Q4, yet

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  7. Compromise proposal on table ahead of Friday's Eurogroup
    Photo by Andrea Bonetti/Fosphotos

    EconomyProgramme

    by spreading measures over two years (2019 and 2020), with more than two thirds of the pension cuts and less than one third of the tax reform being implemented in 2019 and the remainder taking effect in 2020... reportedly proposed a ceiling on pension cuts so no pensioner suffers a reduction of more than 20-25

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  8. Greek banks meet NPE and NPL reduction targets in Q4 2016, mostly on write-offs
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyBanking

    was reduced to 104.8 billion, a billion lower than target of 105.8 billion, while the NPL pile stood at 75.9 billion, 400 million better than target of 76.3 billion. A similar trend was also evident... portfolio. In contrast, the default rate was lower than the cure rate in residential loans. The key

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  9. Racist attacks fell in 2016, report by monitoring body indicates
    Photo by Panayotis/Tzamaros

    Society

    Network documented, through interviews, 95 incidents of racist violence involving more than 130... incidents, with more than 300 victims, registered by the same network in 2015. In 31 of the incidents..., more than one victim was targeted, while in 54 cases the attack was committed by two or more people

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  10. Foreign minister opens up about EU concerns
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsForeign Policy

    of the grouping than Greece’s chief diplomat he chose to begin his speech by calling on the EU to abandon... on stereotypical ideas rather than policies.” An autonomous role? Some SYRIZA members and government... note than most of his EU counterparts, saying that “the negotiations between the European Union

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