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European Commission review of Greek programme: The key points
EconomyProgrammeof the next sub-tranche of 1 billion (due in June) include six prior actions, namely: 1) adoption of outdoor... of a joint ministerial action plan for integration of debt collections to tax administration and 6) adoption... to be completed by the end of June (for the disbursement of the 3rd sub-tranche of 1 billion in July
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With prior actions pending, PASOK showing signs of adjustment fatigue
PoliticsGreek Politicshad to complete six tasks to receive the June instalment of 1 billion euros and another six to get 1.... The first set of prior actions are: 1) adoption of outdoor trade law 2) adoption of investment... of debt collections to tax administration 6) adoption of legislation to ensure access to medicines
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IMF preliminary DSA finds Greek debt unsustainable, points to need for debt relief
EconomyProgramme36 billion. These additional funding needs stem from: 1) Lower fiscal targets (additional needs... targets for the next years: at 1 percent of GDP for 2015 (from 3 percent), 2 percent in 2016 (from 4.5... of Greece fell to less than 1 billion at the end of May against a target of 5 billion in 2015 and 8
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Where is Odysseus? Part 2 - Uncertainty
Agorawith data through mid-2018.[1] The book presents a long-run baseline scenario for Greece to help make... pressures. In Part 1 (Blog 16) of our follow up, we recalculated the baseline demographic outlook... looking uncertainty interval. Consider Figure 1 below, which shows not a single updated demographic
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Omnibus bill goes to Parliament as Greece seeks to unlock 2 bln sub-tranche
EconomyProgramme. The key measures included in the draft legislation are as follows: Pension 1) The statutory retirement age limits gradually increase as of August 19 until January 1, 2022. 2) The minimum pension amount will not be granted to those retiring after July 1, 2015, who have not reached the age of 67
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Q2 GDP rebounds 0.2 pct QoQ but shrinks 0.9 pct YoY amid consumption drop and investment rise
EconomyMacroeconomyof 0.9 percent year on year (YoY) in Q2 from a revised decrease of 1 percent in Q1. Today’s figure... a decline by 1 percent in Q1. The key positive contributor to the GDP evolution in Q2 is investments, which grew by 1 percent QoQ and by 7 percent YoY. In contrast, private consumption fell by 0.2 percent
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No let up ahead in terms of fiscal demands for new Greek government
EconomyProgrammeto generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super-reduced rate was set at 6 percent for pharmaceuticals, books and theatre and a reduced rate of 13... will be abolished starting from October 1 for islands with higher incomes, which are also the most
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Greek 2016 draft budget contains 6.4 bln in new fiscal measures, sees recession ahead
EconomyMacroeconomyon investments, consumption and domestic tourism. Despite GDP growth of 1 percent in the first half of the year..., investments are anticipated to rebound by 4.5 percent, exports to decrease at a slower pace by 1 percent... at 173.74 billion euros for 2015, 6 percent lower than last year’s budget and 3 percent below 2014 figure
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First review completed but more prior actions lie ahead for Greece
EconomyProgrammeand the independent revenue agency. Privatisations 1) Agreement with the institutions by the end of June... Development Plan by the end of August. Energy 1) The Regulatory Authority for Energy (RAE) has to proceed... for the implementation of the EU target model for the electricity market. Independent revenue agency 1
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Going for Growth: What next for Greece's economy and banks?
Agoratourism numbers in 2018 - some 30 million visitors who between them spent 16.1 billion euros[1]. And yet..., with a series of capital market suspensions and a stock market that has contracted by 83 pct (figure 1), a staggering figure. Figure 1: Greek Stock Market Capitalisation Few will shed a tear for the plight
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