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NBG net profits at 5 mln in Q1, NPEs drop for fourth straight quarter
EconomyBankingdevelopments. Balance Sheet Eurosystem funding fell by 1.9 billion QoQ to 10.2 billion in March, increasing... (ELA) funding stayed stable QoQ at 5.6 billion and rose slightly to 5.7 billion in May. This is the lowest among Greece’s core banks. NBG expects to disengage completely from ELA funding in the next
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SYRIZA holds fire as Eurogroup expectations continue to be lowered
PoliticsGreek Politicsif the International Monetary Fund (IMF) does not join the Greek programme with funding but did not suggest... commit funding to the Greek programme once the debt relief measures are settled. This indicates... the table on June 15 satisfied enough to join the programme once more with funding. The report also
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Greece gets bigger tranche from Eurogroup but Tsipras misses other key targets
PoliticsGreek Politicson debt relief measures in order to immediately join the Greek programme with new funding. Greece’s... “following the review of the national cohesion policy funding envelopes for the period from 2017–2020... of a 14-month Stand-by Agreement but stated clearly that no funding would be released until
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NBG reports net loss of 35 million in Q3, NPEs fall for sixth quarter
EconomyBankingother negative developments. Balance Sheet Eurosystem funding stood at 6 billion in Q3 from 8.4 billion... (ELA) funding from 3.8 billion in June to 2.3 billion in September. At 1 billion euros in October, NBG has the lowest ELA funding levels among the core Greek banks. Outstanding interbank funding stands
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The first cut is the deepest? Greek pension reforms in context
EconomyFeaturessystem is funded by a combination of employee and employer contributions, and state funding. The onset of the crisis put a squeeze on all three funding streams roughly within the same time frame, throwing a system already at breaking point into a perfect storm of recession and austerity. Funding from
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Eurogroup agrees on significant debt relief measures for Greece
EconomyProgrammethe cash buffer will reach 24.1 billion euros and will cover funding needs for 22 months. Debt buyback... Mechanism instalment could be used to pay off the IMF early and reduce Greece’s funding needs... buffer of close to 19 billion euros to cover Greek funding needs for 2018 and 2019. In effect
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NBG remains profitable in Q2 with net results of 21 mln
EconomyBankingcited this as a key driver for the bank’s return to profitability. Eurosystem funding Eurosystem funding... refinancing operations (TLTRO ) funding. NBG remains the only core Greek bank that is off ELA while... without any impact on liquidity or funding cost, as Greek sovereigns were replaced with investment grade
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Moody's explains cautious approach to Greek credit rating upgrade
Economywill also be triggered by a successful return to market funding, as well as faster than anticipated... of being completely removed by early next year. The funding situation of the banks has improved as reliance on central bank emergency funding and Eurosystem liquidity is reduced and deposits return
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Human Rights Commissioner calls for improvements to battered healthcare system
Society, and at the same time increased these needs.” It pointed out the serious under-funding of the health... since 2009. Around 25,000 healthcare staff were also cut. Funding of public hospitals fell by more... and 2012. In addition, state funding for mental health services was cut by a fifth in 2010 to 2011
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November deposit inflows stay negative by 79.4 mln for second consecutive month
EconomyMacroeconomydeposit movements, Greece's banks have been phasing out their reliability on Eurosystem funding. The BoG’s most recent monthly financial statement showed that Eurosystem funding fell by 978 million euros month-on-month in November. As of the latest month, the total for central bank funding comes
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