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S&P upgrades Greece’s rating by one notch, sees compromise on pension reform by March
Economygrowth of 3 percent per annum in 2017-19. For 2016 in particular, the key drags to GDP involve: 1) Banks... that this amount will be subtracted from GDP 3) Negative carry-over effect from 2015 Positive effects could stem... growth, payments of arrears estimated at 3 percent of GDP and financing of a deficit just under 3 percent
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Newsletter 23 - 17/04/2015
that an additional 1 billion euros in NPLs was created in March. If confirmed, this three billion... coverage ratio, the jump in NPLs by circa 3 billion in Q1 2015 means that Greek banks should create... tier 1 (CET1) ratios stood at adequate levels at the end of 2014, ranging from 12.1 percent
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Pension and income tax reform bill sets out 4.4 bln in new measures
EconomyProgrammeof the proposed measures. The government aims to collect additional annual revenues of 1.7 billion euros (1... and around 640 million to incremental revenues. Cost savings 1) Elimination of the solidarity grant... million) and future (43 million) supplementary pensions – 326 million. 3) Lower pensions for new
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingto SBL and 3 billion to consumer loans. It is worth noting that the management said that 70 percent... guarantee (pillar II) expenses. Operating expenses fell 1 percent QoQ to 247.3 million in Q3, while... total costs to stand below 1 billion for the whole year, from 750 million in the 9-month period. Over
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The key elements of the draft agreement between Greece and lenders
EconomyProgrammethe use of the attrition rule starting from 1:5 in 2016 to 1:4 in 2017 and 1:3 in 2018.... to be voted in the Parliament. Those measures, which are not quantified in the document, include: 1... of the special tax for sea-farers. 3) Implementation of measures for a reduction in the spending
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Newsletter 99 - 09/12/2016
of the last bailout tranche of 2.8 billion, mitigated by a decline in repos by 1 billion. The 2016... roughly 1 million Greeks in what was labelled a “social dividend”. Tsipras’s surprise pledge... on 6, KKE on 5.5 and Zoe Konstantopoulou’s Sailing for Freedom on 3. None of the other parties made
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Athens grapples with awkward reduction of tax-free threshold
EconomyProgrammelegislated last May an income tax reform yielding 1 percent of GDP by 2018. This included an increase... or two children respectively. It remained unchanged for families with more than 3 children... of 7,723 euros), Greece could achieve 1 billion euros in savings that could sustainably finance
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Piraeus Bank posts pre-tax losses of 215 mln in H1
EconomyBanking) in H1 came to 727 million, up by 1 percent YoY, mainly on the back of improving funding costs... fee income came to 151 million, up by 3 YoY, driven by loan generation, asset management... of 3 percent YoY and 12 percent QoQ. The main contributors were new loan generation, as well
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Newsletter 335 - 15/04/2022
noted on TV yesterday that growth estimates are also revised to 3 pct, down from 4.5 pct before... taxes were rising by a rate of 1 billion euros monthly. It was always a concern that households... the yield of the 10-year benchmark is now testing the 3 pct territory, from a low of 0.55 pct
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Reflections on Greece's balance of payments
Agoraof payments.[1] We can also say that Y - C = S: income minus consumption equals “savings” in the economy... to the balance of payments. This institution was called the “International Monetary Fund.” Figure 1 below.... The solid line repeats the current account balance from Figure 1. The dashed line shows the government
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