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Newsletter 135 - 13/10/2017
percent in 2018, after which growth drops and is estimated to reach 1 percent in 2022, according.... According to the IMF, the number of pensions will increase at around 1 percent per year. Greece predicts... brushed off difficulties within his coalition this week to set off for the USA on Friday
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Piraeus Bank posts net loss of 19 mln euros in Q3, NPEs continue to fall
EconomyBanking(PPI) improved by 1 percent quarter-on-quarter (QoQ) to 294 million in Q2, mostly due to other income. Net interest income (NII) fell by 1 percent to 431 million euros QoQ, while operating expenses declined by 1 percent also. The results were largely in line with those of industry analysts. Asset
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Piraeus announces transformation plan amid 2020 loss of 662 mln
EconomyBankingof progress in its 1 billion-euro share capital increase and a transformation plan, including new..., compared with a loss of 1 million euros in Q3. The bank’s loss for the whole of 2020 compared... expired, reducing active moratoria to about 1 billion at the end of the year. The bank said
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The quarterly national accounts from the income side
Agorapartner countries.[1] This suggests three things: 1) Keynesian policies work (when the private sector... the basis for real GDP from the production side (Table 1). Since all the goods and services... is labelled GDP from the income side. All three forms of adding up GDP (supply, demand, and income; Table 1
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Tracking Greece's fiscal performance
Agoratime. Figure 1 shows the overall fiscal balance over 10 years through 2022-Q2 as reported by two key... are calculated on what is called a “modified cash basis,” the dashed line in Figure 1. This means... at the time when these have an economic impact (solid line in Figure 1), even if the budget cash impact
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Unpaid taxes keep rising, tax audits short of targets
EconomyMacroeconomytax debt of 1 billion by the end of June. The same target of 1 billion has also been set... taxes due, underperforming the full year target set at 50 percent. On tax audits and collections... temporary audits correspond to 73.9 percent of total. The full target is set at 65 percent, implying
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ECB stress tests and what they will mean for Greek banks
Economyprovisions. A capital benchmark of Common Equity Tier 1 (CET1) of 8 percent was set for this pillar... was set at CET1 of 8 percent for the baseline and 5.5 percent for the adverse scenario. The aggregate... on banks’ static balance sheet at the end of 2013. However, the ECB is due to release another set of data
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Coalition in rush to wrap up pending bailout issues
EconomyProgrammeto receive the 10 billion euros set aside for bank recapitalisation. Although not defined yet, the next set of prior actions – beyond those included in the multi-bill due to be voted on Thursday... disbursement of both the sub-tranche of 1 billion plus the all-important 10 billion for bank
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Stock market slips 1.4 pct dragged by huge bank losses
Economyof the first set of milestones and the European Stability Mechanism (ESM) disbursed the sub-tranche of 2... on the second set of prior actions Greece has to implement by mid December to unlock the next sub-tranche of 1 billion. The General Index of the Athens Stock Exchange landed at 649.79 on Friday, which
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Newsletter 166 -15/06/2018
. The agreement reached with Zaev ticks many of the boxes that Karamanlis had set out a decade ago... of maturities will be set at 15 years but will be reduced by 2 years for each 5 billion euros... disbursement. Under the scheme set out in Suddeutsche Zeitung, Greece might be able to ask for a larger
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