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Tormenting Greece with a distorted picture
Agoraworth around 2 percent of GDP was a prerequisite for concluding the review, Athens had little... that it was reclassifying 6.3 billion euros of deposits from private to general government, meaning the total could no longer be directly compared with previous ones. If these 6.3 billion euros are added to January’s total
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Deposit flow turned positive in March, with inflows of 278 million
EconomyMacroeconomyat 2 billion, which was around 400 million above the respective figure of 1.61 billion recorded a year... of 55 million. In contrast, outflows of savings stood at 479 million. Total deposits – which also.... The negative flow in total deposits fully reflects 677 million euros of general government
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Greek banks meet NPE reduction targets in Q2, write-offs remain primary source of reduction
EconomyBankinghigher than the anticipated level of 50 percent. This was driven by a lower than expected volume of total.... Residential NPEs meanwhile were above target by 800 million to total 27.8 billion. Consumer NPEs were... on the asset quality trends in Q2, BoG noted that the quarterly default rate remains over 2 percent
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Athens aiming to intensify talks with neighbours
PoliticsForeign Policypolitical party (the party came first in 45 out of the total 81 communities and municipalities along... this matter due to an increase in interest from Total and Edison regarding hydrocarbon research in certain blocks in the Ionian Sea. According to Tirana, the “Ionio 2” block located north of Corfu is within
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Athens eyes ample cash buffer, prepares for bond swap
EconomyProgrammebeen suggested that the government may try to tap the markets for a total of 6 billion euros next... place. The total amount is intended to be enough to cover Greece’s debt servicing obligations for 12 to 24 months. After 2 years, the reserve would be converted to a permanent “Stability Fund,” which
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Tsipras reveals how excess surplus will be shared out, eyes political relief
PoliticsGreek Politicsthat of the 1.4-billion-euro total, 720 million euros would be handed out to 3.4 million people through a means-tested... would ensure PPC will not increase its charges. Tsipras pointed out that the total amount being... of close to 2 percent of GDP this year. He also noted that unemployment is falling for the third
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Greece continues debt management with swap of bonds worth 30 bln
Economy2023 and 2042, with escalating coupons that started at 2 percent in 2013 and reach 4.3 percent... issued in April 2014 for a total amount of 4.03 billion at a price of 102.6 percent of nominal value... settled at 4.375 percent, while the yield reached 4.625 percent. Total offers exceeded 6.25 billion
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HRADF outlines major privatisation plan, no timelines given
EconomyProgrammeInternational Airport, DEPA and DESFA, which in total reach almost 2 billion euros. Although a relatively.... In the Ministry of Finance’s preliminary budget figures for December, the total fell short by 247 million
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Greek banks complete first round of covered bond issues
EconomyBankingon the international market since 2014, and the first for NBG since 2009. NBG’s bond issue attracted over 2 billion... structure and total value of 500-million euros. It carried a fixed interest rate with a 3-year tenor... Bank’s latest issuance brings the total value of covered bonds issued by the four systemic banks
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Unemployment rate at 20.9 pct in November, slight upward revision for October
EconomyMacroeconomy, with the total for those employed standing at 3.8 million. On a year-on-year basis, the figure... against the previous year, and is the fourth consecutive month since October 2011 where the total... of December since 2013. The unemployment rate among women fell by 2 percentage points (pp) from last year
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