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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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What's likely to be in the next multi-bill of prior actions Greek MPs will vote on
EconomyProgrammeFollowing the vote of the first set of prior actions demanded by Greece’s lenders last Wednesday, the government is preparing a second bill with the remaining measures set out in the Euro summit... Directive (BRRD) and taxation of farmers.* On the pension reform front, as of January 1, 2023 the new
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Newsletter 47 - 16/10/2015
in the statutory retirement age, failed to prompt an outcry among SYRIZA and Friday's vote will likely set.... New Democracy’s approach will likely set the pattern for Greek politics over the next few months... forecasts point to a recession of 1 to 1.5 percent for this year and 1.3 to 1.8 percent for next year
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Newsletter 302 - 18/06/2021
government’s recent successes to resume the reform agenda which was largely set aside to deal... savings accounts set up for new employees. The intention is to put the bill to public consultation... into effect from January 1 for all new entrants in the labour market with the option of opening it up
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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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