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  1. Fiscal target revision shows 3.07 bln 9-month primary surplus was 1.8 bln above target

    Economy

    of the total revenue revision. In addition, direct taxes also fell by 10.4 percent in September after... spot on target. Overall, total expenditure declined by 5.3 percent in 9-month period to 34.03 billion, 2.64 billion lower than the revised target. On top of primary expenditure, total expenditure

    5%
  2. Eurobank makes 877 mln bond exchange offer to cover part of its capital shortfall
    Photo by MacroPolis

    EconomyBanking

    ) involving a voluntary exchange offer for a total nominal value of 877 million euros in outstanding... on October 15 for a total outstanding nominal amount of 593 million bank bonds. If all bondholders... of November. According to Reuters, total capital needs are seen at around 14 billion, while the amount

    5%
  3. Piraeus Bank reveals mitigating actions aimed at reducing size of capital increase
    Photo by MacroPolis

    EconomyBanking

    Management Exercises (LMEs) targeting a total capital strengthening of 590 million euros, of which of 365.... The total amount of mitigating actions stands at 1.51 billion euros but it is not clear what amount... cover the part of total capital needs not covered by private investors. As was clarified on Sunday

    5%
  4. National Bank reveals capital plan, which includes sale of whole Finansbank stake
    Photo by MacroPolis

    EconomyBanking

    scenario of the stress test. The bank's capital plan has three key pillars aiming to cover total... to cover total capital needs of 4.6 billion will be covered by the HFSF in the form of common shares... billion, CET1 capital 9 billion and CET1 ratio 14.5 percent. Note, though, that the bank holds a total

    5%
  5. Marked improvement for budget execution in Oct, primary surplus outperformance extended

    EconomyMacroeconomy

    is up by almost 1 billion euros, also including the quarterly VAT payment. Total ENFIA revenues.... Overall, total expenditure declined by 4.8 percent in 10-month period to 37.73 billion, significantly outperforming target by 3.17 billion. In addition to the mentioned primary expenditure, total

    5%
  6. Government tables 2016 budget, upgrades GDP forecasts but leaves fiscal estimates unchanged
    Photo by MacroPolis

    EconomyMacroeconomy

    interventions for a total of 5.73 billion euros for 2015 and 2016, of which 1.54 billion relate to this year... revenues, which make up two-thirds of total interventions in 2015 and 56 percent in the 2-year period...), rise in the corporate tax rate (150 million). Cost savings of 2.53 billion euros in total

    5%
  7. Greek households most overburdened with housing costs in EU

    Society

    With two in five of its population living in a household where total housing costs represented more than 40 percent of total disposable household income, Greece has by far the highest housing cost... percent of the total population), Cyprus (4 percent), France and Finland (both 5.1 percent) registered

    5%
  8. ELA ceiling for Greek banks slashed by 7.8 bln to 77.9 bln after recap
    Photos by Dennis Skley via Flickr https://flic.kr/p/qcppmH

    EconomyMacroeconomy

    today’s ECB decision, the ELA ceiling has been cut by a total of 13.1 billion euros since mid-August... banks raised a total of 8.3 billion euros from private investors, of which 5.3 billion stemmed from... with full voting rights. The total proceeds from the capital increases also improved accordingly

    5%
  9. Multi-bill tabled in Parliament, paves way for sale of NPLs

    EconomyProgramme

    from resolved banks have been undertaken by the Bank of Greece (BoG). Until February 15, a total... in position allowances. The total annual cost of these changes is estimated at around 300 million... for 2017 and 2018. The GAO report notes that the total amount of cost saving is projected at 137 million

    5%
  10. Unemployment rate fell further to 24 pct in Q3 on seasonally increased employment
    Photo by MacroPolis

    EconomyMacroeconomy

    . However, the percentage of long-term unemployed to total jobless increased to 73.7 percent, its highest level over the past four quarters. Part time employment eased to 9.1 percent of total employed..., this year’s figure indicates the third highest reading since 2001. From the total of 1.67 million

    5%