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Newsletter 30 - 12/06/2015
of June. Since the ELA liquidity buffer for Greek banks has remained stable at 3 billion over the past 6... sector withdrawals, reached around 6 billion over this period. Based on the latest ELA limit of 83... percent for 2016, 3 percent for 2017 and 3.5 percent for 2018 and beyond) and abandoning its demands
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Opinion polls indicate fragmentation, close election race
PoliticsGreek Politicsin agreement on several key factors: 1) SYRIZA has a narrow lead of 2 to 3 percentage points over New... somewhere between 25 and 28 percent, compared to 36.3 percent in the January vote 3) New Democracy’s... at around 7 and 6 percent respectively 5) PASOK, which announced over the weekend that it will work
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Asking Greece to stack more austerity measures ignores past failings
Agorawill need to implement 3 percent of GDP, more than 5 billion euros, in further austerity measures up... issues of 3- and 5-year bonds and, after years of recession, the first sign of growth was recorded... up the starting point of Greece’s fiscal effort by an extra 3 percent of GDP. Based
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Piraeus reports net loss of 37 mln in Q1, records negative NPL formation for first time since 2008
EconomyBanking(QoQ) on the back of net interest income (NII) rebound and cost containment. NII rose 3 percent QoQ... income fell 6 percent QoQ to 74 million. It was negatively affected by the domestic macro... dropped by 35 percent QoQ, as Q4 was burdened by one-off costs, while fell by 6 percent on a like
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First review completed but more prior actions lie ahead for Greece
EconomyProgramme-controlled companies has to be transferred to the new privatisation and investment fund. 3) Ratification... (not later than June 2017). 3) Public Power Corporation (PPC) Annual General Meeting (AGM) should... with an international independent advisor. 3) Enhancement of the operational framework of the Hellenic Civil
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Pending pensions mount up, complicating fiscal effort
Economyare taken into account. As a result, the current deficit of 3 billion would reach 6 billion including...), stands close to 3 billion euros. The majority (2.16 billion euros) of this stems from IKA and 670... billion to 4.54 billion in 2016 from almost 6 billion in 2015. At the same time, the number of pending
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Greek stocks drop 2.5 pct for second straight week, banks tumble 5.4 pct
Economylowest level since October 3, while Greek stocks recorded cumulative losses of 3.4 percent... Development (+1.9 percent). Overall, only 6 stocks of the 25 FTSE/Large Cap constituents recorded gains... percent) and Viohalco (-6 percent). The turnover surpassed the 50-million euro mark on Wednesday
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Budget for 2017 sees primary surplus at 2 pct on 2.6 bln fiscal measures, strong growth
EconomyMacroeconomywere included in the draft budget that was tabled on October 3. Fiscal estimates The general... and extension of solidarity levy (668.5 million) 3) Increase in the excise tax on energy products... million) 6) Income tax on corporate cars (91 million) 7) Tax on coffee (62 million) 8) Tax on fixed
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General govt primary cash surplus at 2.91 bln in Feb, arrears rise by 83 mln
EconomyMacroeconomyto 480 million euros. This was followed by SSFs (-6 million), state budget arrears (-4 million... the biggest decline (-26 million) followed by tax refunds (-26 million) and state budget (-3 million...) and extrabudgetary funds (+6 million euros). At 29.3 percent of the total, SSF arrears made up the majority
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Draft budget sees EU funds fuelling recovery of 7.5 pct in 2021, after 8.2 contraction this year
EconomyMacroeconomy, and just short of 8 pct in the last quarter of the year. Private consumption is seen dropping by 6... to September this year, it would shave off 3 percentage points of the growth to 4.5 pct, with a fiscal impact of 2 percentage points, leading to a primary deficit of 3 pct of GDP. Fiscal On the fiscal
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