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Amid efforts to help banks reduce NPLs, portfolio sales dominate drive to meet 2018 targets
EconomyBankingreport, will be to reduce them by more than 40 billion euros. At the same time, there is an ongoing... that was used in Italy and envisages lifting more than 15 billion euros off banks' books . As the details..., approximately 1 billion will appear on the bank's balance sheet. The sale is part of Eurobank's plan to reduce
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What Greece imports and why
EconomyFeatureswhat might have been expected. But a negative trade balance is not characteristic of Greece just... than any other category during the crisis years. Imports of machinery, meanwhile, have recovered... trade deficit is more likely going to involve ramping up exports rather than cutting back exports
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Foreclosure bill undergoing final adjustments to satisfy creditors
EconomyProgrammea negative effect on their balance sheets, while also rooting out strategic defaulters. The laxity... is that the applicant’s total savings should be no more than 50 percent of the unpaid loan, which means... by the borrower should be no more than double the threshold for the primary residence i.e. 500,000 euros
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Parliamentary report highlights demographics challenge and urges immediate action
Societyis still much less than the 2008 level, which came to 4.5 million in employment. “The overall... and deteriorating demographic balance,” the report said. Shrinking population Earlier this year... recession”. As a result, in 2015 Greece’s fertility rate was 1.33 children per woman, lower than
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BoG underlines progress in NPE reduction but stresses need for systemic solution
Economyto improving banks’ balance sheets. At the end of last year, NPEs stood at a total of 81.8 billion euros... not been serviced for more than 90 days but have not been denounced yet. Additionally, 14 percent... the new revised targets, which have been reported to be slightly more ambitious than the September
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Apartment prices up by 4 pct in Q1 for highest increase since 2007
EconomyMacroeconomyto -142 million in the previous month. This resulted in the household loan sector's balance falling... permits. However, the total for the year is roughly 84 percent lower than the 2005 peak... industry, namely refurbishments rather than new builds.
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Fiscal targets and tax cuts on agenda as Staikouras meets Regling
PoliticsGreek Politicscut legislated by the previous government, may be sacrificed to avoid the fiscal gap of more than 1... to win over the institutions. The first will be to partly balance the tax cuts it wants to implement... than rely on high surpluses. Stournaras also announced that capital controls would be lifted soon
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Tsipras aiming to guide SYRIZA towards new territory in opposition
PoliticsGreek Politicswill stand unopposed. Should Tsipras win, it will give him an even stronger mandate than SYRIZA’s better than expected result in the national elections to shape the party as he sees fit. It seems certain... will be vital in tipping the balance in favour of Tsipras’s overhauled political vehicle
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New Democracy tax pledges put spotlight on available fiscal space
EconomyProgrammewill lead to the state taking in 700 to 800 million euros less than previously expected. Another... to shed more light in the coming weeks on how it aims to balance its tax reductions. The 2020 draft..., this is not a criticism of the government. The government is in place now for a bit more than a week only
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Capital controls to be abolished ahead of schedule
EconomyBanking, but the government is now moving ahead with the measure earlier than planned. Finance Minister... by 1.77 billion euros in June. The latest deposit movement took the aggregate balance to 2.75 billion... people switched to paying by card rather than cash. However, the continuing presence of capital
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