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Newsletter 222 -04/10/2019
Thomas Cook for 1, 2 and 3 star hotels came to an average of 48 percent of overall turnover... that for every 1 euro of tourism revenue generated in Greece, another 2.50 euros is generated indirectly..., with substantial losses in turnover and bankruptcies expected, the HCH said. Hotels with 1 star were estimated
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EU's temporary framework for state aid in response to Covid-19 outbreak
Legalthe 2020 Temporary Framework 1. Direct Grant or Tax Advantages Under the Temporary Framework, the Member...) on the basis of the maturity of the loan (1 year, 2-3 years or 4-6 years), credit risk margins, ranging... at an interest rate, which is at least equal to the base rate applicable on 1 January 2020 plus the credit
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Where is Odysseus? Part 2 - Uncertainty
Agorawith data through mid-2018.[1] The book presents a long-run baseline scenario for Greece to help make... pressures. In Part 1 (Blog 16) of our follow up, we recalculated the baseline demographic outlook... looking uncertainty interval. Consider Figure 1 below, which shows not a single updated demographic
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When will Greek banks operate as credit institutions again?
Agora27 per cent between 2010 and Q3-2013.[1] But this apparent success story risks being undermined...-oriented to southeast Europe, including Greece, which is seeking a loan of 1 million euros from its local... between 3 and 4 percent. This level is a record low for corporates in Germany, in the post
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Credit origination and transmission: Are Greek banks part of the problem or the solution?
Agoraon a two-year downward trajectory. As graph 1 below illustrates total lending to the real economy shows... a financial assistance package from the IMF, European Commission and the ECB in November 2010.[1... area. In its April 2013 edition the parts about Greece made for particularly challenging reading.[4
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IMF report sees a number of risks lying ahead for Greece
EconomyProgramme, the IMF stresses that the primary surplus will have to be maintained at above 4 percent of GDP... primary surpluses of over 4 percent of GDP being achieved and sustained for several years as well... clearance of 2.5 billion in 2015, which resulted in an increase of the debt-to-GDP ratio by 1
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Greek DSA: Don't Say Anything about the debt
Agorato 3 percent of GDP in 2015 from 1.5 percent in 2014, and remain above 4 percent of GDP until 2022.... There is a forecast for high privatization proceeds that exceed 1 percent of GDP each year until 2020, peaking at 1.7... the Fund. "But maintaining the program primary surplus of about 4 percent of GDP for several years may
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Early rounds of talks with lenders focus on possible prior actions
EconomyProgramme. These measures involve: 1) Changes in the laws for hirings in the public sector, settlement of tax arrears... of the thorniest issues strongly opposed by a large number of SYRIZA and New Democracy MPs. 4..., in the middle of the EC's recent estimate of 2 - 4 percent. In addition, despite the VAT reshuffling
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European Commission evaluates impact of bailout programme
EconomyProgramme: 1) Granting guaranteed contributory pensions only at the attainment of the statutory retirement age of 67 years. 2) Increasing health contributions for pensions to 6 percent (from 4 percent... pension funds into the Unified Auxiliary Insurance Fund (ETEA). 4) Freezing of minimum pensions
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Newsletter 94 - 04/11/2016
the tax credit to 1,600 euros (from its current 1,900 euros) with estimated savings of 1 billion euros... of around 1.8 billion in the last three months, the backlog has decreased by 1 billion, indicating... sales by 11.2 percent coupled with smaller declines in food, beverages and tobacco (-4 percent
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