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These are the bailout deliverables expected from Greece in September
EconomyProgrammewithin the tenure of the caretaker government, include: 1) Finalise a medium-term technical assistance... legislation to make the Fiscal Council fully operational. 6) Present a plan to complete the clearance... by September 1 all supplementary pension funds into the Unified Auxiliary Insurance Fund (ETEA) and ensure
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EU and IMF bailout drafts confirm conditionality as well as differences on primary surplus
EconomyProgrammetarget of 3.5 percent by 2018 that would be covered by: 1) A holistic pension reform yielding savings of 1 percent of GDP and would also compensate for the Council of State decision ruling... tax reform (1 percent of GDP), including a lowering of the tax-free threshold to 8,182 (compared
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Greece agrees package of measures with IMF, eurozone to seal review
EconomyProgrammeGreek Finance Minister Euclid Tsakalotos emerged from talks with the institutions at around 6 a.m.... as the pension cuts and reduction in the tax-free threshold yielding 1 percent of GDP each in 2019 and 2020... involve spending increases in 2019 and tax relief in 2020 to the tune of 1 percent of GDP each
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Piraeus Bank posts net profit of 44 mln in Q3 from continued operations
EconomyBanking(NII) dropped by 1 percent QoQ to 353 million euros, representing a rise of 1 percent year-on-year... (project Phoenix), with a time frame to completion in H1 2020, along with 1 billion commercial... As mentioned, NII stood at 353 million euros, down by 1 percent QoQ and representing a rise of 1 percent
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EU's temporary framework for state aid in response to Covid-19 outbreak
Legalthe 2020 Temporary Framework 1. Direct Grant or Tax Advantages Under the Temporary Framework, the Member...) on the basis of the maturity of the loan (1 year, 2-3 years or 4-6 years), credit risk margins, ranging... at an interest rate, which is at least equal to the base rate applicable on 1 January 2020 plus the credit
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Piraeus Bank posts pre-tax losses of 133 mln in 9M
EconomyBanking) in Q3 stood at 81 million, an increase of 1 percent YoY and unchanged QoQ. The main contributors... to 234 million (-1 percent YoY) including the asset management fee paid to the NPE servicer. Excluding this fee, operating expenses during the quarter fell by 6 percent YoY. In the 9M period
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Newsletter 288 - 12/03/2021
round of tax advance refunds worth 1 billion euros, as well 500 million euros earmarked for to subsidise... the impact from Covid-19, and 6 percent in 2020, converging to the European average. Net interest income... to 47.3 billion euros in 2020. The phased-in Common Equity Tier 1 (CET1) ratio came to 13.9 percent
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The case for a general government balance sheet
Agoraof a government impacts future generations. Figure 1 shows the summary results of a preliminary general government balance sheet for Greece and the 19 countries of the euro area (Euro-19). Subsequent tables 1 and 2 illustrate balance sheet data in more detail. Figure 1 above captures for Greece and the Euro-19
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How Greek banks moved into a new era
Agorahas benefitted from its Turkish subsidiary (Finansbank) having an NPL ratio of just 6 percent... points (pp), followed by Piraeus at 1.3 pp, Alpha at 0.6 pp and National 0.5 pp (1 pp for Greece... increase, Piraeus shares saw a modest increase of 6 percent, while Eurobank and National shares have
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Tsipras still hopes he can avoid being part of coalition government
PoliticsGreek Politicssome of the 1 in 10 Greeks that are undecided to help elect a single-party government. SYRIZA’s hopes.... Macedonia Uni for Skai TV SYRIZA 31.5% ND 27 Potami 6.5 G Dawn 6 KKE 6 PASOK 3 Ind Grks 3 Papandreou 2 Others 6 Undecided 9 #Greece — MacroPolis (@MacroPolis_gr) January 12, 2015 A survey by Rass
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