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Second review to resume in Athens under severe time pressure
EconomyProgrammeone week and concluded on October 27. The Greek government is hoping that the second round... model that combines flexibility with security, similar to the one in Denmark, which includes...-offs, while VAT debt will be excluded from any write-off. There are also several other key actions
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingEurobank posted an improvement in net profits to 85.4 million in the third quarter (Q3) of 2016 from 46.2 million in the previous quarter. Q3 bottom-line results include a one-off gain of 55 million... 2017 with 2-3 large corporate NPLs. According to market sources, another one Greek bank (Piraeus
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Greece, lenders inch forward after talks on settlement of tax and bank debt
EconomyProgrammebe written-off. According to Economy Ministry sources, one or two meetings of the technical delegations may... the imposition of the single property tax (ENFIA) in four areas of the country (three in Attica and one
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NBG turns profitable in Q3, NPE stock drops further by 1 billion
EconomyBankingwith a positive bottom-line result of 16 million from losses of 3.06 billion in Q2, which fully reflected a one-off loss of 3.1 billion related to the recycling of Finansbank’s losses that were previously... 6.1 billion in Q2 to 4.5 billion in November and remains at one-third of the other core Greek banks
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Liquidity and NPL resolution feature prominently in draft deal between Greece and lenders
EconomyProgrammeThe stability of the financial system was one of the key issues discussed during the two rounds... by the end of December the existing tax disincentives related to loan loss provisions and write-off... close to 100,000. According to reports, one of the key open technical issues relates to the haircut
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Shaping the post-programme narrative in Greece
Agorain July 2018 when the third programme is due to expire. On the one hand, preparation will then either... with financing resources of its own in the third programme, one must be mindful of the following... well short of what Tsipras was seeking to achieve, such as a partial debt write-off (in nominal
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Review delay brings Greek liquidity needs back into focus
EconomyProgrammeMinister Alexis Tsipras pledged a one-off payment of 617 million to pensioners and to freeze... short-term funding gaps. Since Q1 2014, repos have been one of the key components of the Greek state’s
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Provisions of out-of-court workout bill outlined ahead of submission to Parliament
EconomyProgrammeof the write-off as well as the payment scheme. In addition, there would be no limit on the debt haircut... any write-offs. The out-of-court workout is one of the key milestones of the second programme review... billion per month. The number of tax debtors slipped to 4.31 million, meaning that almost one in two
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Athens sees Cyprus talks progressing despite lack of deal in Geneva
PoliticsForeign Policyon Sunday insisting that Kotzias had not gone off script and that he was executing the Greek... by Erdogan on Friday. Interestingly, in one sentence Erdogan says that Turkey will not leave Cyprus....” He suggested a withdrawal scheme that – according to analysts – resembles the one the UN suggested
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Athens gears up for deal with lenders, pending news from IMF
PoliticsGreek Politicsto swallow but as long as there is a feeling that there has been a fair trade-off with the lenders... that will be taken by German Finance Minister Wolfgang Schaeuble is one of the greatest concerns... programme to be torn up and a new one drafted. Reacting to a question about the report, a German Finance
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