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Greece trying to lay 'phantom' pensions to rest
Societysecurity fund, IKA, carried out its first ever census between July 1, 2011 and September 30, 2011... Yiannis Vroutsis said that a total of 51,551 bogus pensions had been discovered with the most... defrauded the fund out of a total of about 10 million euros. In May, Alternate Finance Minister Christos
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A fierce political clash over medicine prices in Greece
PoliticsGreek Politicslast year a total of about 5.5 billion euros on some 6,800 drugs available on the local market... is for government spending on medicines to be no more than 1 percent of GDP, or 1.7 billion euros. One.... Of the 5.5 billion spent in total last year, more than 900 million (almost 17 percent) was on generic
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Greek primary surplus at 1.5 bln in Q1, aided by PIB and social underspend
Economynegative contributor to the total revenue underperformance, as the respective 3-month figure fell short... expenses are mainly owed to a cut in grants to the social security sector by 27 percent or 1... of the year were in line with the target. They posted a 6.1 percent increase to 1.99 billion. The total
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OECD sees 3.3 bln euros of savings Greece can make by cutting red tape
EconomyMacroeconomy, pharmaceuticals and tourism. The last five areas account for less than 1 percent of total administrative... estimated in 2006 that total administrative costs amounted to 6.8 percent of GDP and that a reduction
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How Greek banks moved into a new era
Agora. They successfully raised a total of 8.31 billion (Alpha 1.2 billion, Eurobank 2.86, National 2.5... points (pp), followed by Piraeus at 1.3 pp, Alpha at 0.6 pp and National 0.5 pp (1 pp for Greece..., the four banks had accumulated LLRs of 43 billion corresponding to 16.6 percent of the total loan book
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Ιnterest in exercising Alpha's warrants remains rather limited
EconomyBankingof total outstanding shares, implying that the HFSF stake in the bank’s share capital was reduced...) with an interest rate of 3 percent increasing by 1 percent per annum. Thus, HFSF potential capital gains... than double compared to the previous period number, the total number of exercised warrants so far
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Greece raised lower than expected amount from 3-year bond issue, yield at the high end
Economy” The MoF statement also notes that total offers reached 3 billion euros, materially lower than the 20... was in May 2009 for an amount of 7.5 billion euros with a coupon of 4.3 percent. At that time total bids.... This would allow the disbursement of the next sub-tranche of 1 billion also paving the way for Greece
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Credit contracts by 3.5 pct in June, balances at 214.81 bln
EconomyMacroeconomyproprietors accelerated to 1.5 percent in June from 1 percent in May, remaining the only sector posting... and 10 billion from consumer credit. The settlement of total unpaid private debt, which stands at 160... for the total outstanding unpaid private debt of 160 billion (88 percent of GDP) by the middle
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OECD report paints grim picture for Greece's labour market
EconomyMacroeconomyis clearly depicted in the nominal unit labour cost, defined as total compensation of employees divided... as real GDP divided by total hours worked) in Greece showed a slight rise of 0.4 percent in 2013 after... percent in 2013, with Spain and Portugal increasing by 1.9 and 1 percent respectively. Greece
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Tsipras starts to flesh out SYRIZA's economic policy but questions remain
PoliticsGreek Politicsinstalments with taxpayers who are in arrears. At the moment the total tax and social security contribution arrears stand at 68 billion euros and are growing by around 1 billion euros a month. Tsipras said...- and medium-sized enterprises. Tsipras said these lenders would be given a total starting capital of 3 billion
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