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Greek banks in intensive care: What lies ahead?
Agorabank failure cannot be avoided. The resolution tools mainly consist of powers to: 1) Effect private... functions or facilitate the continuous access to deposits. 3) Separate clean and toxic assets... banks. At the end of Q1 2015, Greek banks’ Basel III Common Equity Tier 1 (CET1) ratio stood at 12.7
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EU makes dramatic revision to economic forecasts, sees recession of 2-4 pct this year
Economytargets. In specific, a primary deficit of zero to 1 percent is now projected for 2015, a primary balance of 1 to 0.5 percent in 2016 and a primary surplus of 2.25 to 2 percent in 2016. However... the next three years, the EC projects they would reach 81.7 billion and stem from: 1) Bank
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Newsletter 36 - 24/07/2015
that the recapitalisation of Greek banks will be concluded well ahead of 1 January 2016, when the bail-in tool... – either individually or in combination. These tools involve: 1) splitting bank operations that can be sold without the consent of shareholders, 2) transferring business to a bridge bank, 3) separating
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European Commission evaluates impact of bailout programme
EconomyProgramme: 1) Granting guaranteed contributory pensions only at the attainment of the statutory retirement...) for main pensions and to 6 percent (from zero) for supplementary pensions. 3) Integrating all supplementary.... According to the Commission, the main objectives of these further reforms are to: 1) Establish
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Revenue uptick unable to stop 7-mth primary surplus outperformance falling to 724 mln
EconomyMacroeconomyunderperformance in July revenues, which primarily stemmed from: 1) No receipt of SMP and ANF income... to a delay in the first instalment payment targeted above 800 million. 3) Non-assessment (and consequently... 1 percent to 4.34 billion, marginally above target of 4.32 billion. Tax refunds dropped by 22.8
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Signifcant underspend covers revenue shortfall for budget primary surplus to August
EconomyMacroeconomythat a large part of the revenue underperformance is attributed to: 1) SMP and ANFA income of 1.72... to 24.72 billion, 2.8 billion better than target. The bulk of this outperformance was mainly created in 3... in August, with the 8-month figure up by 1 percent to 7.35 billion, proportionally in line with the full
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Newsletter 58 - 15/01/2016
for a rise in the SSC for supplementary pensions by 1.5 percentage points (pp), of which 1 pp will come... euros required to achieve the agreed pension cost savings of 1 percent of GDP (1.8 billion) in 2016...–20,000 euros. On the fiscal front, there are estimates that the fiscal gap could reach 0.5–1 percent
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Net profit of 87 mln for NBG in Q1
EconomyBankingand reduced operating expenses. In more detail, net interest income (NII) rebounded 1 percent QoQ... pillar II costs, fees fell 3 percent QoQ to 73 million euros, while fee expenses related to pillar II... by 1 billion in 2017, while the NPL ratio is seen down to mid-teens in the medium-term
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NOME auctions as a mechanism to strengthen competition in the Greek electricity market
Legalof that said Law, as amended by para. 1 of Article 3 of Law no.4393/2016, establishes the sales... must be placed (namely article 135 para.2 Law. 4389/2016, as amended by article 3 para 1 of law... of the previous year. This calculation methodology is repeated in the KYSOIP Decision no. 38 Art. 1 para. 2.3.
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Newsletter 95 - 11/11/2016
to surge 13.7 percent, while exports and imports are predicted to increase 3.6 and 3 percent... of 23.3–23.5 percent in 2016, which is expected to fall by 1–2 percentage points in the following... in October, after a decline by 1 percent in September. The slight drop is mostly attributed
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