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Newsletter 27 - 22/05/2015
rebellion. suggestion of a dual rate for VAT, depending on the payment method. Finance Minister... in March but the rate of decline slowed to 2.9 percent from 10 in February. March’s fall was the fifth
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBankingrepricing. In particular, deposit rate eased further by 26 basis points (bps) QoQ to 1.15 percent, mainly led by a contraction of the time deposit rate by 23 bps QoQ to 1.83 percent. Note that the higher
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Greek GDP falls by 0.2 pct in Q1 as uncertainty impacts on investments
EconomyMacroeconomyeconomic recovery this year. The provisional data also showed the year on year (YoY) GDP growth rate... at double-digit rate by 10.8 percent QoQ and 12.4 percent YoY. EC expects a slowdown in import
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Downturn in retail trade eases to 0.4 pct in March
EconomyMacroeconomyThe turnover of Greece’s retail trade index headed south for the fifth successive month in March but the rate of decline eased to 0.4 percent in March from a revised 3.1 percent in February... dropping by 1.7 percent in February. The March rate is the second positive reading so far in 2015
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Greek trade deficit up 6 pct in April despite growth in exports
EconomyMacroeconomy, whilst those from non-EU countries increased by a double-digit rate (+13.2 percent). The aggregate... with a negligible impact on trade deficit. In specific, exports rose at a double-digit rate by 14.8 percent, while
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Improving car sales in Greece continue with 27.9 pct rise in May
EconomyMacroeconomyStatistical Authority (ELSTAT). Despite the slowdown, the May rate is the fourth successive reading... slightly below the 55 percent rate recorded in 2014. The number of road motor cars had surged by 30.2
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Greece and lenders fail to bridge their differences in Brussels
PoliticsGreek Politicsstemmed from an upward revision of VAT revenues to 1.3-1.4 billion by increasing the low rate to 6.5 percent and the middle rate to 12-13 percent. However, the new proposal still fell short
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Greece and lenders talk at cross purposes, head for crisis summit
PoliticsGreek Politics. However, if the current rate of deposit depletion remains or increased it could quickly become... at the current rate, the Greek government could find itself with its hands tied going into Monday’s summit
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Travel receipts rise by 16.3 pct in April on jump in arrivals
EconomyMacroeconomyThe growth rate of Greece's travel receipts accelerated to 16.3 percent in April from 13.3 percent in March, according to the Bank of Greece (BoG). In absolute numbers, travel receipts reached 476.6... at the main Greek airports slowed to 6 percent in May bringing the 5-month rate at 10.5 percent, lower
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Greek talks go down to the wire as IMF raises major objections
PoliticsGreek Politicsin the Greek proposal. The IMF is proposing an increase in the VAT rate on food service from 13 percent... included in the Greek proposal. In contrast, it wants the corporate tax rate to be raised to 28 percent
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