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Newsletter 255 -26/06/2020
be broadened so that another 1 billion euros is returned to firms. The process of returning the tax... million for the property tax reduction and 1 billion to reduce social insurance contributions... for a primary surplus of 1 to 1.5 percent of GDP. Also, the pan-EU Recovery and Resilience Fund proposed
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Piraeus Bank posts pre-tax losses of 133 mln in 9M
EconomyBanking) in Q3 stood at 81 million, an increase of 1 percent YoY and unchanged QoQ. The main contributors... to 234 million (-1 percent YoY) including the asset management fee paid to the NPE servicer.... Capital The Common Equity Tier 1 (CET1) ratio of the group in 9M came to 14.1 percent, while the total
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Greece - On the importance of productivity growth
Agora, on average. Table 1 presents key statistics to support our bearings. The population data come from... the 1970s onwards.[1] All industrial countries show this pattern. This development is not particular... of productivity growth recovering to around 1 percent a year. We also accept this assumption for Greece. [2
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Newsletter 288 - 12/03/2021
round of tax advance refunds worth 1 billion euros, as well 500 million euros earmarked for to subsidise... to 47.3 billion euros in 2020. The phased-in Common Equity Tier 1 (CET1) ratio came to 13.9 percent... The core index fell by 1 percent, less than the decrease in January Greece’s Consumer Price Index (CPI
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Productivity developments in the Greek public and private sector
Agora. There is no contested market for government services (at least not in the short run[1... numbers of real GVA per employee are shown in Figure 1 (index Q1 2001 = 100), together... of Figure 1 jump out immediately. Overall productivity increased in the initial boom years after euro
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The case for a general government balance sheet
Agoraof a government impacts future generations. Figure 1 shows the summary results of a preliminary general government balance sheet for Greece and the 19 countries of the euro area (Euro-19). Subsequent tables 1 and 2 illustrate balance sheet data in more detail. Figure 1 above captures for Greece and the Euro-19
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Where is Odysseus? Part 2 - Uncertainty
Agorawith data through mid-2018.[1] The book presents a long-run baseline scenario for Greece to help make... pressures. In Part 1 (Blog 16) of our follow up, we recalculated the baseline demographic outlook... looking uncertainty interval. Consider Figure 1 below, which shows not a single updated demographic
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What is the state of play with Greek banks?
Economyof their capital base was at high levels, with Alpha and Piraeus EBA core Tier 1 ratio (at the end.... Furthermore, a 6 percent cut in bank employee wages has already been in effect retroactively as of January 1... for National. As an indication, a 1 percentage point increase in the Greek NPL ratio would result
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Greek banks' capital backstop and the funding gap: An uneasy relationship
Economybillion taking also into account: a) proceeds of circa 1 billion stemming from: one-off presubscription... related to bank recap (110 million), interest income (232 million) and b) an amount of 1 to 1.2... at the end of June - the definition of the Core Tier 1 threshold with a reduction by 1 percentage point
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Greek primary budget surplus at 707 mln as revenues beat target in May
Economybillion). The upward revision mainly stemmed from higher revenue targets (by 1 billion) counterbalancing... exceeding 1 billion euros per month. Indirect taxes continued were in line with the target despite... period to 9.11 billion euros. VAT rebounded 1 percent in May, while the 5-month figure eased 1.3
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