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EC keeps growth estimates broadly unchanged, fiscal outlook improves markedly
EconomyMacroeconomyadjustments for the Greek growth outlook from the previous estimate in May. The Commission for 2024 sees... in 2025, falling below the 2 percent threshold in 2026. In the estimates in May, inflation for 2024..., dropping to 9.8 percent next year and 9.2 percent in 2026. This is broadly in line with the estimates
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Revised GDP data shows recession for 2016, higher growth in 2014
EconomyMacroeconomyAccording to the Hellenic Statistical Authority’s (ELSTAT) second estimate for the 2016 Annual... an initial estimate of 0.1 percent growth. ELSTAT also revised the national accounts for the years... compared to an initial growth estimate of 0.6 percent. Expenditure of households dropped by 0.1 percent
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How Greece's political system failed to safeguard the largest investment in the country's history
Agorabanks proceeded to share capital increases via a book-building process without the HFSF’s participation... discounts in the offer prices of the book-building processes. Those discounts ranged from 34.4 percent... exercise date. Of the 12 banks under resolution, the HFSF estimates the recoverable amount at 2.02 billion
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BoG runs numbers to show how tackling NPE stock will benefit banks' bottom line
EconomyBankingexposure will stay unchanged, the sales of NPEs will take place at net book value... in the form of risk weighted assets (RWA). With the exercise taking place at net book value, CET 1... estimates that the current credit gap, which is based on the long-term average of credit as a percent
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Greek 30-year bond attracts strong demand at attractive yield
Economyand the higher funding needs for support measures that have already exceeded the initial estimates by 4 billion euros. The announcement of the syndication was made this Tuesday and the book opened on Wednesday.... By mid-day the other book exceeded 26 billion euros and the yield settled at Mid Swaps plus 150 basis
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Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingdeposit rates show there is difference of 35 bps between the front and the total book, suggesting further... to 14.3 billion corresponding to 19.6 percent of the total loan book. Gross loans dropped 0.7 percent... percent of the fully phased figure of 550 million. In addition, 79 percent of the estimated integration
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NBG boosts capital base by selling total stake in Finansbank
EconomyBankingeuros implies a price to tangible book value of around 1.0x, which according to NBG stands... Finansbank’s tangible book value in NBG financial statements was at around 3 billion. Note though... is estimated to boost NBG’s Common Equity Tier 1 (CET1) ratio by around 600 basis points (bps). This solely
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Amid lack of communication, overflights add to Greek-Turkish tension
PoliticsForeign Policyon the sidelines of NATO Summit, in London in early December. Libya concerns Athens is also closely monitoring Turkey’s efforts to enhance and stabilise its presence in Libya, supporting the UN-recognised government in Tripoli. According to press reports, Turkey maintains five frigates closely to Libya
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Athens assessing lay of land as Cyprus talks approach and UK seeks new role
PoliticsForeign Policy-Cypriot sides have many issues to consider ahead of new Cyprus talks. Libya developments Greece... and the Prime Minister of Libya by the Libyan Political Dialogue Forum in Geneva. A statement released... and the Government of National Accord of Libya, in Tripoli. As a diplomat, Menfi served the regime
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Athens harbours big hopes for Egypt energy deal, keeps eye on Turkey's role
PoliticsForeign Policyfor Energy so it can be eligible for EU support funds. Egypt has completed interconnections with Libya... of Northern Cyprus. On the other hand, Cairo and Athens share a common line on the issue of Libya..., and the International Law of the Sea,” he said. The two ministers also discussed the issue of Libya
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