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PDMA highlights improving debt profile, targets 8-12 bln in new issues for 2021
Economyinclude 8 or 12 billion euros of new issues, EU funds of 2.5 to 3 billion euros, 1.3 billion from SMP... debt issuances in the next year. PDMA notes that in 2020 Greece managed to raise 12 billion euros... and Ireland. Greece also enjoys an overall positive maturities profile, that does not exceed 12 billion
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European Commission review of Greek programme: The key points
EconomyProgrammediscovered tax refund arrears would be cleared in 2015 on top of the 8 billion originally foreseen... and local governments. Furthermore, out of the 8 billion euros of past years’ arrears due to be paid last... of the next sub-tranche of 1 billion (due in June) include six prior actions, namely: 1) adoption of outdoor
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Piraeus Bank posts pre-tax losses of 133 mln in 9M
EconomyBanking, PPI reached 262 million in Q3 from 285 million in Q2, a drop of 8 percent quarter-on-quarter (QoQ...) 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
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Greece - On the importance of productivity growth
Agora, on average. Table 1 presents key statistics to support our bearings. The population data come from... 2100. The data start in 1950 with almost 8 million Greeks, growing to 11 million in 2011, before declining gradually to around 8 million by 2100 (at which point it is expected to stabilize). This means
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Multi-bill details how Greece aims to raise 1.6 bln from indirect taxes
EconomyMacroeconomymeasures yielding around 1 percent of GDP that completes the 3 percent of GDP in fiscal interventions... in the basic VAT rate, applied to the bulk of goods and services, from 23 to 24 percent as of June 1... in 11 islands will be abolished as of June 1. The excise tax on cigarettes, tobacco, beer and energy
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The Court of Audit's opinion on new pension cuts and its implications
Legalin combination with article 98(1)(d) of the Greek Constitution, according to which: “The Court of Audit... 8, 2017 referring to successive pension cuts. The inevitable implication of this is that the role... percent reduction of pensions to the extent that, pursuant to article 1 of the First Additional
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Fitch puts Greek banks' capital needs between 11.2 and 15.9 bln
Economyto continue to qualify as core capital. 5) Target Common Equity Tier 1 (CET1) ratio at 12 percent... of July 12 for Greek bank recapitalisation should be sufficient unless deferred tax assets (DTA) cease... certain assumptions. In the first scenario, the rating agency assumes: 1) Non-performing exposure (NPE
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A sudden turnaround that could lead to sharp shock
Agora. Investments have dropped to 12 pct of GDP. The trade deficit has almost been eliminated at 0.5 pct of GDP.... This was preceded by a drop of close to 9 pct in Q4 2010 and followed by a nearly 8 pct drop in Q2... and September is close to 12 billion euros. A drop by a third, similar to the dark days of the debt crisis
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Latest market foray for 15-yr bond attracts strong investor interest with record low yield
EconomyBanking, with the UK leading the offers by 24 pct, followed by France at 17 pct. The US had 12 pct of the offers. Greek... and insurance and pension funds with 8 pct. Hedge funds had 9 pct of the allocation. The same issue... by fund managers at 59 pct and hedge funds at 8 pct. Greek participation came to 7 pct. Including
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New Democracy sees glimmer of hope in polls following support measures
PoliticsGreek Politicswhich propelled it to second place earlier in the year, falling from 12 pct to 11.5 pct. Social Democrats PASOK have also slid from 12 pct to 11 pct, while ultranationalists Greek Solution have held on to 8 pct, followed by Communist Party KKE at 7 pct and SYRIZA at 6 pct. Among the smaller parties
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