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Current account deficit narrows further in May, down by over 3 bln in first five months
EconomyMacroeconomyGreece’s current deficit narrowed to 1.65 billion euros in May, from 1.78 billion euros in April, Bank of Greece (BoG) data showed on Friday. In May 2022, the balance showed a deficit of 2.08 billion euros, while in May 2021 the current account posted a...
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Industrial turnover resumes growth after 3 months, rising by 2.6 pct YoY in May
EconomyMacroeconomyGreece’s industrial turnover turned positive in May, with a rise of 2.6 percent year-on-year (YoY), from a 9.2 percent decrease in April, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday. This is the first positive rea...
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2014 draft budget: An ambitious fiscal consolidation targeting a primary surplus of 1.6 pct
EconomyMacroeconomyamount to 16.5 billion and stem from: 1) 5.23 billion issued in 2009 for bank recap, under the Liquidity... billion also issued in 2009 for the Hellenic Fund for Entrepreneurship and Development (ETEAN) and 3... for the anticipated improvement in 2014 are: 1) a turnaround of investments, targeted to increase
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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... “humiliating”.[3] More attractive price levels could be achieved by pooling NPLs of different
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After Q3 results, what next for Greek banks?
Agoraof deposit rates in the banks acquired over the past 12 months, whose deposit rates were 1 percentage point... of September for the new production and are expected to settle below 3 percent along. Along... as of January 1, 2013 and another 3.5 percent as of the beginning of next year), implementation
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National Bank posts 9-month profits of 1.18 bln
EconomyBankingby a modest 1 percent QoQ. The yearly drop mainly stems from a double-digit decrease in personnel... with the coverage ratio at 45.3 percent. Gross loans rose by almost 1 billion QoQ to 71.4 billion.... In the Greek market, deposits also grew by 2 percent QoQ reflecting an increase in customer deposits by 3
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Bank of Greece sees growth at 0.7 pct in 2014, NPLs up to 34.1 pct
EconomyMacroeconomydisplayed consumer credit and corporate NPL ratio increased by almost 3 percentage points (pp) from... a slighter deterioration by more than 1 pp to 27.4 percent. For corporate NPLs (for loan amounts above 1 million euros) in particular, a BoG study showed that they are concentrated in a relatively
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Fitch keeps Greek rating at 'B' but downgrades outlook to negative
Economyhas moderated its stance since 2012 advocating: 1) Greece to remain in the eurozone 2) Commitment to maintaining a primary budget surplus 3) Honoring Greece’s obligations to the IMF and private... that could result in a downgrade include: 1) Prolonged political deadlock and lack of agreement
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Greece's fiscal, debt and funding goals as set out at Eurogroup
EconomyProgrammeto a number of conditionalities regarding the 3- to 6-month bridge agreement including: a) Commitment... into account the following factors: 1) EFSF loans of 142 billion euros (75 percent of GDP) bear... that revenue mobilisation could fetch up to 5.5 billion in 2015 stemming from: 1) fighting illegal trading
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Greek gov't tables draft law on installments for unpaid taxes: Here's what's in it
EconomyMacroeconomy-third of the collectable tax arrears, around 3 billion euros. Regarding the impact these measures would... the collectability of public revenues. Tax arrears created until March 1 2015 may be included... is lowered to 3 (from 4.56) percent per year. A broadly similar process is provided for social
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