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Newsletter 303 - 02/07/2021
the halfway stage of his four-year term, voters have yet to see the centre-right administration... a stronger rebound in the second half of the year, as restrictions are lifted, private consumption... following the lockdown that was introduced in mid-November last year and it was only relaxed in May
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Fitch maintains Greek 'BB' rating with stable outlook amid some lack of visibility
Economyupgraded Greece amidst the pandemic in November last year. Greece is two notches away from the much... unchanged this year at 9.5 pct, from 7.2 pct in the previous review in January as support measures will impact it by 8.3 pct of GDP in 2021. The deficit is seen shrinking to 4.8 pct next year and to 2.8
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ECB clears banks after stress tests, approves change to DTCs as momentum builds
EconomyBankingbanks supervised by the ECB. Across the sample, the three-year stress scenario that was outlined in January this year would bring the CET1 ratio down by 5.2 percentage points, from 15.1 pct to 9.9 pct. The main drivers of the stress test exercise that was meant to take place last year
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Piraeus Bank impairments impact H1 results as NPE clean-up accelerates
EconomyBankingup impairments, against 829 million of impairments in Q1. Year-on-year, the net loss of 2.45 billion... months of the year, the bank reduced its NPEs by 13.5 billion euros to 9 billion euros and an NPE ratio of 23 pct, from 45 pct in the end of last year. The bank says it has now completed 80 pct of its
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Govt seeks ways to keep classrooms open in face of Delta variant
PoliticsGreek Politicsto the surge in new cases in countries where the school year is already under way. This has led... Yiannis Econonomou stressed that the government wished to avoid a repeat of last year, when classrooms stayed open for just two months out of the school year. “Our intention, our will, our endeavour
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Spurred by rising employment, Q2 unemployment drops to 10-year low of 15.8 pct
EconomyMacroeconomyof the year (Q2), from 17.1 percent in Q1, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday... year. The number of people employed amounted to 3.92 million, increasing sharply by 8 percent... unemployed (over 1 year) came to 447,200 people, representing 61 percent of the total unemployed
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Tsipras looks for fresh start as Mitsotakis holds election cards
PoliticsGreek Politicsthe service. The aim over a four-year term would be for spending on public health to reach 7 pct of GDP... that the leftist party has found difficult to live down and its leader’s speech at TIF this year... many commentators, SYRIZA sees a high probability of elections being called next year by Mitsotakis
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July travel surplus of 2.14 bln affirms comeback for tourism sector
EconomyMacroeconomyGreece’s travel balance came to a surplus of 2.14 billion euros in July, from 610.2 million a year... for the month, more than tripling year-on-year, from 678 million. Travel payments rose by 103 percent... in July last year had dropped by 73 percent. For euro-denominated countries, receipts showed a rise
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Serbia’s road to collective immunity: A tale of two realities
AgoraThe enthusiasm in the first months of this year regarding the mass vaccination in Serbia was so... this year, when the mass vaccination started in Serbia, followed by a major campaign, large stocks... of the state against coronavirus. He still clearly remembers, as does everyone else, last year's lockdown
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Tax revenue overperformance in Sep confirmed, primary budget deficit at 5.96 bln
EconomyMacroeconomymonths of 2021, compared with a deficit of 7 billion in the same period last year, the final Finance... compared to a deficit of 11.27 billion euros in the aggregate period last year. The budget balance... euros, increasing from last year’s 30.99 billion. The ministry notes that this overperformance is due
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