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How does ECB's decision on Greek banks' T-Bill exposure affect state liquidity?
Economyof 6-month T-Bills mature on April 14 and 1 billion of 3-month T-Bills on April 17. Due to the bank holidays... the first issue on April 7 and the second on April 15. Rollovers The rollover of the 6-month T-Bills... have been used to pay the last March payment of 340 million to the IMF (due on March 20
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Greece drafts reform multi-bill as talks catalyst but fiscal gap lingers
EconomyProgrammethrough the following measures: 1) An extraordinary levy either by increasing the current solidarity levy.... 2) Increase in luxury tax in cars, pools and yachts with estimated revenues of 20 million euros. 3... than 600 million euros. 7) Combating illegal trade on oil, tobacco and alcohol, with projected
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Agreement on third bailout with revised fiscal and macro targets, host of prior actions
EconomyProgramme: 1) Gradual elimination of grandfathering to statutory retirement age and early retirement pathways... 2018. 7) Deregulation of professions such as engineers and notaries 8) Approval... Mechanism to release funding before August 20, when Greece has to meet the maturity of a 3.2-billion-euro
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Greek government commits to new fiscal measures for third bailout
EconomyMacroeconomyfor 2016-19. Among others, the latter will include: 1) The second phase of pension reforms 2) Reform... increasing to 20 percent in 2016 and further to 26 percent in 2017 4) Tax on television advertisements 5... (GGR) to 30 percent 7) Increase in the tax rate on rental income from 11 to 15 percent for income
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July trade deficit lands at 715 mln as imports post biggest drop on record
EconomyMacroeconomythe EU rose by a mere 1 percent, while those from non-EU countries declined by 20 percent. Similarly... by 7 percent. The regional breakdown of the headline figure displayed mixed trends in exports
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ELA funding drops by 1.58 bln in Sept for third straight fall
EconomyMacroeconomyprogramme in mid August. A further reduction by 1 billion euros was decided by the ECB on October 7... by 20 billion, corresponding to more than 45 percent of the private sector deposit outflows of 44
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Marked improvement for budget execution in Oct, primary surplus outperformance extended
EconomyMacroeconomyis up by almost 1 billion euros, also including the quarterly VAT payment. Total ENFIA revenues... million with the 10-month figure down almost 20 percent to 2.28 billion, 343 million short of target... million below target. For the 10-month period, primary expenditure dropped 7 percent to 31.45 billion
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Meimarakis and Mitsotakis make it into run-off vote for New Democracy leadership
PoliticsGreek Politicston Syntakton daily on Friday, for instance, showed SYRIZA’s support plummeting to 20 percent... expected numbers meant that polling centers were kept open beyond the 7 p.m. deadline, helping the cash-strapped party gather more than 1 million euros in funds. However, the failure to publish
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Newsletter 61 - 05/02/2016
of understanding target for pension cost savings of 1 percent of GDP (1.8 billion) in 2016... any income criteria, while institutions insist on their initial stance this to be granted after 20... it reached 7 billion US dollars for the global refugee crisis. Further consider Turkey, where approximately
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Range of issues unresolved as programme talks resume in Athens
EconomyProgrammeyielding 1 percent of GDP (1.8 billion euros) each. Pensions We understand there is a broad convergence on the national pension that would amount to 384 euros for 20 minimum working years... on April 7 and the Eurogroup on April 22. The government aims to secure an initial agreement
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