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A breakdown of Greece’s revised financing needs as part of its new ESM programme
EconomyProgrammeused in May to service its external debt. 3) Clearance of state’s arrears to the private sector of 7... notes that a decision on resuming those transfers may be taken in the course of the upcoming... experience to assume that from the second half of the ESM programme horizon Greece may be able
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Looking in on the Greek elections from the outside
Agora, this welcome restraint should not obscure the fact that these “outsiders” – if we may call them... during campaign appearances has caught the attention of European observers. He may appear to be a safer... the next three months. They will be looking at any signals that may arise after the Greeks cast
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Budget revenues rebound in August but shortfall remains at 4.2 bln
EconomyMacroeconomyin August. These taxes were initially due in July and May respectively as it was also the case last... to boost revenues in the coming months, we would expect that the full-year revenue target may..., the government may have stopped delaying or postponing payments of non-payroll expenses, as it was the case
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Tsipras is at his strongest, but for how long?
Agora, with the referendum in July with Sunday’s vote, and ending up on the winning side, Tsipras may start... may rekindle the discussion about a revival of Greece’s centre-left, with a more buoyant PASOK now... members live for, the friction generated by disagreements. Tsipras may be returning to power
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Greek banks brace for recapitalisation, with Piraeus initiating a bond swap offer
EconomyBankingfigure could be in line with market expectations, the individual bank capital needs may prove more..., the initial voluntary may turn into a mandatory exchange securing Piraeus capital strengthening. Following Piraeus announcement, the market anticipates that the other three systemic banks may proceed
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Cabinet act firms up details of CoCos issuance by Greek banks
Economythe right to request the repayment of CoCos before the 7th anniversary, but may request... in the next few weeks. The bank may decide to repay in cash part or the whole CoCos amount at any time... is at the discretion of the bank’s BoD, which may also decide to pay the coupon in the form of common shares
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Unemployment down for second straight month in August, falls to 24.6 pct
EconomyMacroeconomy) labour force survey showed on Thursday. The August jobless rate is the lowest figure since May 2012.... The number of unemployed fell by 15,700 to 1.18 million in August to its lowest level since May... is the highest reading since May. However, the August number still points to a considerable decline
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Privatisation of power transmission firm ADMIE a key challenge among prior actions
EconomyProgrammeprocess was completed on May 9, 2014, with five firms submitting expressions of interest. After... of exports are controlled by PPC. Local media indicate that the government and the quadriga may converge... of public utilities in particular. The government may find a way to appease backbenchers over
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Multi-bill tabled in Parliament, paves way for sale of NPLs
EconomyProgrammeon in the long-term. In turn, the borrower may be offered more favorable term as the new entity... will be uploaded on BoG website. An NPL may be sold by a bank only if in the preceding 12 months the debtor did... one loan that includes an NPL, their performing loans may also be transferred together with the NPL
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Mitsotakis win gives New Democracy chance for renewal but creates fresh risks
PoliticsGreek Politicsis on the right wing of the party, may prove more complex. Mitsotakis, who favours market-oriented reforms... for his attacks on the main opposition party. Tsipras may try to portray New Democracy and Mitsotakis.... In the process, New Democracy may find itself attracting the support of voters who backed centrist To Potami over
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