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Updated Greek reform proposals see 2015 primary surplus reaching programme target 3 pct
EconomyProgrammeFollowing the initial proposals on fiscal and structural measures from Greece, which we presented on March 30, the Financial Times revealed on Wednesday the updated version of the 26-page document submitted by the Finance Ministry (MoF) to the instituti...
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Most services in Greece see turnover improve in Q1
EconomyMacroeconomyThe evolution of the turnover indices for the services sector displayed an improvement for the second consecutive quarter in Q1 2015, with 11 out of 14 service activities posting a rise, according to the Hellenic Statistical Authority (ELSTAT). In Q4 20...
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Tension rises in Greece but creditors see potential for agreement soon
PoliticsGreek PoliticsProspects for a deal between Greece and its lenders hang in the balance going into the Orthodox Easter weekend after another round of inconclusive talks on Wednesday. Alternate Finance Minister Giorgos Houliarakis, along with the government’s legal advi...
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EU officials see Greek deal close, broad debt talks to follow
PoliticsGreek PoliticsTwo of the key players in the negotiations over Greece’s second programme review expressed some optimism on Tuesday that an agreement between Athens and its lenders could be reached in the next few days. European Economic Affairs Commissioner Pierre Mos...
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Banks see efficiency gains after shedding 29 pct of staff, 42.6 pct of branches during crisis
EconomyBankingThe impact from the restructuring of the Greek banking system during the crisis years was depicted in the figures provided by the Hellenic Bank Association (HBA) on Friday. Following that restructuring, largely via consolidation, the four systemic Greek...
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If rising card use in Greece meets EU average, VAT revenues would see 3.3 bln boost - study
EconomyMacroeconomyEnhanced credit card usage in Greece could capture revenues that exceed the annual inflows from the single property tax (ENFIA), a study by the Foundation for Economic and Industrial Research (IOBE) has shown. The study, titled “Digital payments after c...
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Despite differing views IMF and EC see no immediate debt sustainability concerns
EconomyProgrammeGreece’s debt sustainability was assessed again by the two main institutions tasked with the analysis of the viability of the country’s debt, the IMF as part of the Article IV consultation process published last week and the European Commission in the f...
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Tourism boosted GDP by up to 33 pct in 2019, but low arrivals in 2020 could see economy shrink by 10 pct
EconomyFeaturesThe tourism industry helped Greece generate almost up to a third of its GDP last year, according to a new study, but the low number of arrivals this year could shave off a tenth of national output this year. An analysis by the Greek Tourism Confederatio...
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Greeks see corruption as rife, going unpunished in new survey
SocietyA survey by polling company Public Issue has delved into the attitudes of Greeks towards corruption and found a pessimistic outlook. The poll was carried out between 19 to 21 November this year. The results found that 72 percent of Greeks agreed that co...
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Producer prices soar by 43 pct YoY in May, but see first monthly drop since Aug 2021
EconomyMacroeconomyThe pace of Greece’s Producer Price Index (PPI) annual growth slowed down, although only marginally, with one more explosive rise in May, shooting up by 43 percent year-on-year (YoY), having jumped by 48.8 percent in April, ELSTAT data said on Thursday....
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