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National Bank reports 1.15 bln H1 profit on back of 1 bln deferred tax
EconomyBanking. The latter mainly reflects higher deposit NII on improving time deposit spread more than offset..., where spreads are 20 bps lower than new production, is expected to continue supporting NII growth... that the remaining off-balance sheet DTA stands at 1.2 billion euros, implying there is further room
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Q2 GDP contraction at 0.3 pct, strong Q3 needed to achieve target of annual growth
EconomyMacroeconomyStatistical Authority (ELSTAT) today. The headline figure is 0.1 percentage points worse than the flash... for the fifth successive quarter by 5.3 percent in Q2 slightly lower than the 5.4 percent posted in Q1... and services, which eased 4.2 and 6 percent respectively. It is also noteworthy that Q2 trade balance
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Greeks most sceptical of EU and US policy towards Russia, poll indicates
Societyopinion of Russia and its role in international affairs than other Europeans who were polled... the GMF. The difficulties this sentiment poses the coalition, as it tries to balance this against... with Russia independently, rather than together with the other member states of the EU. “Greece
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ECB tests find negligible capital shortfalls at Greek banks
Economy(Eurobank) appearing to have a capital shortfall and even in that case it being less than 18 million... for capital needs was based on the agreed restructuring plans (dynamic model) rather than the end-2013... only one bank (Eurobank). For Eurobank and NBG, the ECB said in a footnote that “the dynamic balance
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Travel receipts up again in September, reaching 2.3 bln
EconomyMacroeconomy, the 9-month travel balance recorded an improvement in its surplus by 11.3 percent or more than 1... percent to 182 million. As a result, the travel surplus grew to 2.1 billion euros, at a higher-than
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Target revisions leave 880 mln budget shortfall in Oct despite 2.6 bln primary surplus
Economyhigher than preliminary figures due to the incorporation of privatisation proceeds of 269 million... budget performance in the 10-month period now show they fell short of targets by more than 880 million... in the 10-month period stems from both lower Public Investment Budget balance (by 587 million) and revenues
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Samaras, Venizelos opt for earlier presidential vote in high-risk strategy to save coalition
PoliticsGreek Politicsmore ground than it has during the last few weeks on fiscal and structural measures. Moving... taking. Suspicions doused Holding the presidential vote earlier than planned also gives SYRIZA less... of surviving the presidential vote but the result still remains in the balance. However, it also has
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The government decisions that could shape the future of Greek banks
EconomyExchange and whose trading activity accounts for more than half of the daily turnover, back into focus..., the HFSF funds cannot be used for other than bank recapitalisation purposes. This means... will not burden banks’ balance sheets. Although the investment community initially focused on the top
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Greek Q4 GDP down 0.2 pct QoQ, 2014 nominal GDP stays in recession
EconomyMacroeconomymore than 70 percent of GDP but has posted a cumulative drop of more than 24 percent since 2008.... On the other side of the trade balance, 9-month imports rose 3.8 percent YoY. Unlike exports, EC expects
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Greek funding needs add to pressure in talks between Athens and lenders
EconomyProgramme. Even if both requests are approved, there is still a gap of more than 5 billion by August that has... for the payment of the VAT by one month and lower than expected revenues from the settlement... of March, the cash primary balance would show a deficit of 1.29 billion in March, which has to be covered
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