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Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
EconomyBankingPiraeus Bank’s second quarter (Q2) results showed that net profits from continued operations came to 24 million, recovering from a loss of 80 million euros in Q1. The results for the first half (H1) of the year showed a loss of 55 million euros versus a profit of 3 million for the same period last
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Greece tops OECD countries for tax rises and spending cuts
EconomyFeaturescountries between 2015 and 2016, increasing by almost 3 percentage points (pps) in this time period
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Banks on track with NPE targets in Q2 as sales play bigger role
EconomyMacroeconomy) and 44.3 percent for residential loans (target: 42.8 percent). The total volume of NPLs was reduced by 3
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Newsletter 173 -07/09/2018
was reduced by 3 billion QoQ or 47.7 percent. However, BoG noted that banks missed their NPLS reduction target
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ANEL leader under scrutiny due to party unrest, questions over refugee funds
PoliticsGreek Politicsstruggling to make the 3 percent threshold for entering Parliament at the next elections. This has
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Athens prepares 2019 draft budget amid pension cuts dilemma
EconomyProgrammeuntil the December 3 Eurogroup. In the meantime, Finance Ministry officials are reportedly still
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Newsletter 176 -28/09/2018
prove crucial to the process. The Greek government is likely to have to wait until the December 3
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Eurogroup suggests there is scope for pension cuts to be called off
EconomyProgramme3 Eurogroup, cannot yet be ruled out. Although such resistance could not prevent Athens from
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General govt primary cash surplus at 3.51 bln in August, arrears fall by 306 mln
EconomyMacroeconomyrise was noted in extrabudgetary funds which went up by 3 million euros compared to July, while state
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Newsletter 177 -05/10/2018
the moment when Greece will be given the green light. Until now, the December 3 Eurogroup was seen
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