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Credit in Greece contracts by 3.5 pct in August
EconomyMacroeconomyThe rate at which credit to the Greek private sector is contracting slightly eased to 3.5 percent... to 70.1 billion euros, with monthly net deductions slightly lower MoM at 202 million. Consumer credit... months, net deductions landed at 21 million. Credit contraction continues unabated since
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Stable credit standards and mixed trends in demand for Greek loans in Q4
EconomyMacroeconomyCredit standards for both corporate and household loans were kept broadly unchanged in the last... supply and demand. Credit standards for corporate loans in Q4 were in line with earlier expectations, while previous estimates for households had indicated a tightening in Q4. Banks expect credit
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingloans NPL ratio stood at 62 percent in Q4, consumer credit at 56 percent, mortgages at 32 percent... primarily reflecting negative formation of 133 million in mortgages and 22 million in consumer credit... billion to ELA. The breakdown of the latter shows credit claims of 6.3 billion, pillar II bonds of 3.8
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Stable credit standards for loans in Q1, small uptick in demand for SME and housing lending
EconomyMacroeconomyCredit standards for both corporate and household loans remained broadly unchanged quarter... to provide information on what affects the conditions for loan supply and demand. Credit standards..., banks expect credit standards for both corporate and household loans to remain stable QoQ. Despite
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S&P sees improved fiscal and growth prospects, raises credit rating to 'B'
EconomyRating agency S&P raised Greece’s long-term credit rating to ‘B’ from ‘B-’ on Friday, maintaining... its outlook during the summer, and not Greece’s credit rating. In its overview, the agency stresses... and long-term sovereign credit. There is positive outlook for a further upgrade action in the near
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Credit standards and demand for corporate, household loans unchanged in Q1
EconomyMacroeconomyCredit standards for both corporate and household loans stayed unchanged from the previous quarter... in the Greek market. No change was noted in housing loans and consumer credit compared to the previous quarter. Banks expect credit standards for both corporate and household loans to remain unchanged
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Athens waits for credit rating upgrade as 10-year yield drops to new low
Economynight, when the agency is due to publish its credit rating review. S&P was the first ratings agency... are an additional dependency on raising Greece’s credit rating, as well as the elimination of all remaining... its credit assessment for the country.
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Credit rating reviews highlight pressure points in economy
Economyin June, Scope Ratings upgraded to positive in July, with no credit rating upgrades forthcoming... last week, it outlined in a credit note the reasons that the country faces challenges in its four... in Ukraine and the Middle East. Although the public does not necessarily follow developments on the credit
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New fiscal measures aim to edge Greece closer to deal with lenders
EconomyMacroeconomy) Compulsory use of credit or debit cards in 22 islands (with reduced VAT rates currently) for transactions... that the government is currently considering to cover the estimated fiscal gap involve: 1) A unified VAT rate between... to food and medicines. Greece currently has two main VAT rates of 13 and 23 percent and a lower rate
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Newsletter 209 -07/06/2019
authorities announced their intention not to implement the pre-legislated income tax credit package, which... in installments, reduced VAT rates, the return of the 13th pension payment, and the reversal... is already the highest as a share of GDP in the EU. Combined with VAT changes, the EC says
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