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Outline of fiscal mechanism for automatic cuts emerges after Eurogroup
EconomyProgrammeStatistical Authority (ELSTAT) each April. If the primary surplus is off track by more than 0.25... 1.5 percent and if the programme is off track by 1.76 to 2.25 percent then 2 percent of new cuts
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Coalition prepares final legislation for review, opposition expects no upsets for now
PoliticsGreek Politicsbe implemented if the programme is off track in the coming years. Having already voted through 2... only a few weeks ago the conservatives seemed convinced that Tsipras might use the stand-off
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Eurobank turns profitable in Q1 for first time since Q3 2011, with net profit of 60 mln
EconomyBankingseventeen quarters since Q3 2011. It is worth noting that stripping out a one-off gain of 57 million posted...-off item of 57 million stemming from the negative goodwill of the Alpha Bank Bulgaria acquisition
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Multi-bill tabled as Greece aims to take last step to completion of review
EconomyProgrammerate of expenditure cuts. If the primary surplus is off track by more than 0.25 percent of GDP... 1.5 percent and if the programme is off track by 1.76 to 2.25 percent then 2 percent of new cuts
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Tsipras, against all odds
Agorathe creation of a solidarity fund (financed by part of any extra primary surplus) to help the worst off... who believe that after a 1- or 2-year-period of hardship, Greece would be better off with its own
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Athens hopes for timely boost from visits by EU officials
PoliticsGreek Politicsthat the lenders are keen to ensure that the Greek government does not slack off after completing... to take a decision on Tuesday. Government officials said that the strike was called off after the workers
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Stocks plunge 8.8 pct over week in aftermath of UK referendum outcome
EconomyThe Greek equity market tumbled 13.4 percent on Friday as the result of the UK referendum triggered risk-off trades in the global markets. Investors’ reaction on Friday ended a four-day rally... almost since the opening. The sell-off erased earlier gains of almost 17 percent in the preceding
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HFSF sees market value of bank holdings plunge to 2.4 bln after closure, capital controls
EconomyBankingof 9.33 billion, a one-off expense of 555.9 million and impairment from banks under liquidation... (CoCos), while a gain of 1.27 billion was recorded from warrants’ revaluation. The one-off expense
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Justice can't be blind to facts in 2009 deficit case
Agorathat the country’s public finances were off track and defined the magnitude of the fiscal adjustment... 2009, the budget’s unrealistic projections were exposed. The budget deficit was already way off track
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Piraeus Bank’s bottom line turns profitable with 20 mln net profits in Q2
EconomyBankingPiraeus Bank turned net losses of 37 million euros in the first quarter (Q1) of 2016 to profits of 20 million in Q2, which include a one-off trading gain of 77 million from the acquisition of Visa Europe from Visa Inc. Excluding this one-off item, recurring pre-provision income (PPI) improved by 8
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