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UnLuCky for some: Another painful lesson from the euro crisis
Agorain the report that debt should have been restructured up front. Instead, Greece’s first programme worked... convergence. When things started to unravel, though, critics started to line up to punish the Greeks... decided as part of the second programme to speed up the process further by reducing the minimum wage
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Greek primary surplus shrinks by 1.7 bln in Dec as revenues miss 2014 target by 3.1 bln
Economyfigure up 16.1 percent to 3.47 billion in line with target. The drop in indirect taxes decelerated... (down 17.3 percent) coupled with seasonally high primary (up 1.5 billion MoM) as well as Public Investment Budget (PIB) expenditure (up 1.6 billion MoM). The final figures for the whole year show tthat
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Newsletter 15 - 13/02/2015
on the secondary market during its SMP scheme. On top of that, it also wants the right to issue up...-bills that was previously agreed with the troika or whether it would have to consider signing up... the Emergency Liquidity Assistance (ELA) capacity to Greek banks by an additional 5 billion, up from the 60
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Eurobank posts loss of 523.7 mln in Q4 2014
EconomyBankingitems. In particular, net interest income (NII) was up 4.1 percent QoQ mainly driven by lower.... Following the sharp increase in provisions, the coverage ratio rose to 56.3 percent up from the 53.6... of liquidity, the bank reported a drop in deposits by 1.8 billion euros QoQ to 40.9 billion in Q4
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Tsipras confounds expectations, creates new doubts by reviving coalition
PoliticsGreek Politicsdifference was a surprise, as was the fact that SYRIZA saw its January support drop by less than 1... party falling short of the 3 percent threshold. These upsets immediately opened up the possibility of SYRIZA and Independent Greeks picking up where they had left off a few weeks ago. Tsipras wasted
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Newsletter 52 - 20/11/2015
ballots. On top of that, the three parties have stepped up their criticism of the government. New..., especially given that the first round of New Democracy’s leadership race is coming up on Sunday... percent in September, which was a slightly milder drop than the 18.1 percent drop in August. Over
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Trade deficit soars 21 pct in April for highest rise since Dec 2014
EconomyMacroeconomyGreece’s trade deficit sharply rose by 21 percent in April after a 23.7 percent drop in March... trends in exports, with those to EU countries edging up by 1.3 percent, while those to non-EU countries... surged 57.7 percent with the corresponding imports and exports up by 26.5 and 2.2 percent
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General government primary cash surplus substantially widens to 5.3 bln by September, arrears edge down to 6.2 bln
EconomyMacroeconomybillion remains the highest expenditure figure making up 51.6 percent of total followed by compensation... marginally by 58 million in September, following a drop of 614 million in August and 345 million in July... an increase in SSF and tax refunds’ arrears by 188 and 156 million respectively more than offsetting a drop
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingto loan deleveraging, the NPL ratio edged up to 34.8 percent in Q3 from 34.7 percent in Q2... the NPE mix with retail loans making up 55 percent of total NPEs, the bank said that the retail NPE... 20 percent each to the total NPE cut, while write-offs will make up the remaining 40 percent
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In latest review of loan quality, BoG says capital ratios to remain high after targeted NPE reduction
EconomyBanking. The drop reflects a reduction in participations by 27.44 billion, mostly due to the sale of Finansbank... to a drop in performing loans by 3.2 percent, while net loans contracted at a slower pace of 1.6 percent. In absolute numbers, the NPE stock edged up by 0.4 percent to 108.4 billion euros. The more up
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