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How Greek banks could cut 2014 financing gap with a bond rollover
EconomyIn an interview with Naftemporiki daily on October 14, Greek Finance Minister Yannis Stournaras... 2014, currently estimated at 10.5 – 11.0 billion euros. Both solutions involve rolling over of Greek.... The paper is held by Greek banks (4.47 billion) and the European Central Bank (ECB) as well as National
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Current account surplus at 407 mln in May - first positive balance since Sept 2014
EconomyMacroeconomythat resulted in a drop in oil imports by the Hellenic Petroleum, one of the two main Greek refineries... million and in their holdings of foreign bonds and T-Bills by 267 million. In contrast, residents’ net... billion in the 5-month period primarily on account of a decrease in non-residents’ investment in Greek
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Feb current account deficit at 990.4 mln as services balance improves
EconomyMacroeconomywas mainly driven by a deterioration in the balance of goods which worsened by 267 million euros... liabilities for the month was mainly due to a rise of 2.6 billion euros in non-residents' holdings of Greek... billion in non-residents holdings of Greek government bonds and T-Bills. Reserve assets went up month
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Moody's downgrades Greek bond rating, sees chances of accident rising
Economyofficial creditors. Moody’s notes that the current Greek rating is historically associated... of urgency following a change of Greek negotiators. However, it believes that the final outcome... between the Greek government and its creditors or evidence that the Greek electorate is supportive
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Could reforms have prevented Greece's economic collapse?
AgoraThe Greek economy’s collapse in the 2010-2013 period has become legendary. Greece had already been... billion euros from transport receipts. Together, all these factors combined to shrink the Greek... time, as the IMF argues in its own assessment of the first Greek programme by the Independent
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Tsipras and Kammenos try to fend off rumours of deepening rift
PoliticsGreek Politics) and there is no guarantee that the two sides will reach a common position. The recent ramming of a Greek coast guard vessel off the Imia islets and the detention of two Greek soldiers who crossed the Evros... ties with Turkey and the recent incident involving Greek-Russian businessman and PAOK football club
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The lenders proposals on debt and funding needs that Greeks will vote on in referendum
EconomyProgrammeGreek Parliament has published (in Greek) the preliminary debt sustainability analysis (DSA... billion relate to redemptions of Greek government bonds (GGBs) held by the ECB due in July and August... SMP income that would be disbursed right after Greek Parliament approves the agreement
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Exclusion from QE confirmed, only ECB's reinvestment programme left
EconomyProgrammesaid that Greek government bonds are not eligible for QE and need a waiver, which was available while... with it and as such Greece remains ineligible for QE. Greek government bonds lost their investment grade... to the adjustment programmes they were given this waiver and Greek banks could use the paper as collateral
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OECD sees potential for recovery in Greek economy, stresses benefits from reforms
EconomyMacroeconomyand vested interests, according to the report. The reports stresses that the ratio of the Greek minimum... of structural reforms, which nonetheless remain a challenge, faster improvement in Greek banks... on the Greek budget. The report notes that, although not negligible, the pace of fiscal
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Tsipras travels to China hoping to fulfil ambition of closer Sino-Greek ties
PoliticsForeign PolicyEven before SYRIZA came to power, it was interested in improving Sino-Greek relations so Prime... projects and boosting the exports of Greek agricultural products to China. George Tsipras... become a hub of international commerce and a bridge between Asia and Europe, meaning the Greek government
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