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BoG insists on need for bad bank, sees EU funds boosting recovery from 2021
Economyin the coming years, adding as much as 2.3 pct annually during the programme horizon, up to 2026...). To that end, BoG dedicates a box in the report to its proposal to set up an Asset Management... complete their securitisations, NPEs will drop from close to 59 billion to 35 billion, with potentially
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Cabinet reshuffle and Covid-19 strategy dominate agenda for start of 2021
PoliticsGreek Politicsgovernment spokesman Stelios Petsas summed up the situation in a TV interview on Sunday. It appears... and Mitsotakis is aiming to follow this up with more actions of this kind during 2021. Covid-19 The prime minister will have been encouraged by the drop in Covid-19 deaths to below 50 a day over
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BoG warns pandemic will leave trail of bad loans, hastening need for new tools
EconomyBanking) stepped up its warnings regarding the pandemic’s impact on the Greek banking system. Greece’s central... of international or national crises, the sharp economic drop will have an impact on banks’ asset quality... already seen one transaction completed despite the pandemic and banks lining up transactions, the NPE
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Hercules nears end of its first cycle with National Bank's participation
EconomyBankingto assist banks in offloading up to 30 billion euros in bad loans which have been plaguing... estimates that after all banks complete their securitisations, these will drop further to 35 billion euros... stability report last month, the Bank of Greece (BoG) stepped up its warnings regarding the pandemic’s
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Newsletter 285 - 19/02/2021
accusing Mendoni of a cover-up. A subsequent announcement by SYRIZA presents a timeline suggesting... extremely wealthy individual or family – to set up shop in the country. The legislation requires... pct YoY in January Apparel and transport lead drop in index CPI has remained consistently negative
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Alpha Bank enters agreement with Davidson Kempner for 10.8 bln Galaxy securitisation
EconomyBankingquarter -- Alpha’s NPE and NPL ratios will drop to 24 percent and 13 percent respectively, from 43... is on a levered basis, while the bank has further upside through an earn-out of up to 68 million euros if certain... long-term funding facility of up to 120 million euros, which Davidson Kempner can draw from at its
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Employment balance positive by 27,233 in Feb; highest since Sept
EconomyMacroeconomy, however, was the big drop in both hirings and firings. Total hirings in February came to 98,428 versus 71,195 departures. That only just makes up more than half the activity seen in the same month... for full-time work came to 64.4 percent. During the month, part-time and shift work made up 31.2 percent
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GDP rises by 4.4 pct QoQ in Q1 and falls 2.3 pct YoY
EconomyMacroeconomy, following an 8 percent drop in Q4. Final consumption represents the majority of GDP, making up... percent. Final consumption expenditure decreased 2.4 percent (though government consumption was up 4.9
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General govt primary cash deficit at 6.66 bln in April; arrears fall
EconomyMacroeconomyArrears to the private sector (including tax refund arrears) showed a drop of 249 million euros... made up the largest part of the arrears in April. Debt Central government gross debt rose by 3.7... billion euros to make up 10.6 percent of the total. T-bills rose by 400 million to 12.1 billion
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Govt grabs opportunity offered by escape clause to entice voters with support package
Economythe recession to be at 4 pct only to see it end up being twice as deep, the Finance Ministry took a more... in the repayment of the tax advance refunds that can reach up to 75 pct, a liquidity measure... to drop to 51.9 pct of GDP, from 60.4 pct in 2020 and 59.4 pct this year. Revenues are due to rise
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