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Greek fiscal deficits and debt since 2000
Agora, or almost 4 percentage points of GDP! This difference between the overall balance and the variation.... There are other operations (Table 1 below) that can change the stock of debt without affecting... overall debt and, beyond debt, the state’s net worth.[1] Data in the general government bulletin
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Macroeconomic fundamentals for Greece
Agora(2020-2029)? Demographics. To answer this question, let us start with Figure 1. Data are from the UN’s most..., we can calculate how many units of labor (L) Greece can deliver in the economy (Figure 4... of the 2020s (Table 1). Until around 2025, the cyclical recovery is overriding the demographic anchor
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A breakdown of Greece’s revised financing needs as part of its new ESM programme
EconomyProgrammein the August 2015 – 2018 period. This amount incorporates: 1) Amortisation on the Eurosystem ANFA... sector (8 billion). 4) Payment of EFSM bridge loan (7 billion). 5) Unwinding of repo operations (3.5... payments Interest payments are calculated at 16.6 billion and mainly relate to: 1) Eurosystem ANFA
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Piraeus announces transformation plan amid 2020 loss of 662 mln
EconomyBankingof progress in its 1 billion-euro share capital increase and a transformation plan, including new..., compared with a loss of 1 million euros in Q3. The bank’s loss for the whole of 2020 compared... in Q3. For the full year, NII reached 1.49 billion euros, a rise of 4 percent YoY. Asset quality Organic
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The lenders proposals on debt and funding needs that Greeks will vote on in referendum
EconomyProgrammeof 1 percent this year and 3.5 percent in 2020 and 2022. Under scenario A, with nominal GDP growth... privatization revenues at 0.5 percent this year, 3 billion by 2020 and 4 billion by 2022. Under... tranches between end June and end October. 1) The first tranche involves 1.8 billion euros in 2014
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Newsletter 221 -27/09/2019
for next year, with the institutions at the moment seeing a fiscal gap of 1 billion euros, or 0.5 percent... in the corporate tax rate by 4 percentage points to 24 percent, halving of the dividend tax... the December 4 Eurogroup. side would like to boost up to 3 percent, thanks to their bullish take
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European Commission review of Greek programme: The key points
EconomyProgrammeof the next sub-tranche of 1 billion (due in June) include six prior actions, namely: 1) adoption of outdoor... of nuisance charges, 4) adoption of the code of conduct for members of the government, 5) adoption... to be completed by the end of June (for the disbursement of the 3rd sub-tranche of 1 billion in July
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With prior actions pending, PASOK showing signs of adjustment fatigue
PoliticsGreek Politicshad to complete six tasks to receive the June instalment of 1 billion euros and another six to get 1.... The first set of prior actions are: 1) adoption of outdoor trade law 2) adoption of investment licensing and spatial planning laws 3) update the list of nuisance charges 4) adoption of the code
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A snapshot of Greek banks' ABS as ECB readies for next move
EconomyThe European Central Bank (ECB) announced on September 4 that it will proceed with a large-scale... billion, while Eurobank’s figure stands below 1 billion. In addition, they hold covered bonds (mainly... by Alpha and Eurobank at 3.6-3.7 billion, while Piraeus figure stands slightly above 1 billion
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Greece and creditors try to untangle pension complications
EconomyProgrammepension funds are retained (in nominal terms) to 2015 levels until 2021. 4) As of July 1, all... Parliament on July 15 included the following pension-related interventions: 1) Health contributions for pensioners have increased to 6 percent (from 4 percent) for main pensions and to 6 percent (from zero
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