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High unemployment, falling wages damaged sustainability of largest Greek pension fund
EconomyMacroeconomyEmployees insured with IKA, the largest main social security fund in Greece, lost more than 10 billion euros in annual wages over the last 5 years, according to the Federation of IKA employees (POSE-IKA). At the same time, their annual social security contributions have dropped by almost 5 billion
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Newsletter 62 - 12/02/2016
with around 10 percent of GDP, compared to a European average of some 2.5 percent. The biggest revelation... percent of GDP, Greece needs to take measures in the order of some 4–5 percent of GDP (up to 8.8 billion... euros etc. The income ceiling would be set at 55,000 euros, where a 5 percent discount would apply
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Central gov’t debt rises to 321.3 bln in Q4, financial aid loans at new high of 220.4 bln
Economyunchanged at 14.88 billion making up 4.6 percent of total, while repos edged up to 10 billion... of 16.76 years Almost 80 percent of Q4 outstanding debt has a residual maturity of more than 5 years... short-term (up to 1 year) and medium-term (1 to 5 years) debt. Greece’s cash deposits advanced
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Asking Greece to stack more austerity measures ignores past failings
Agorawill need to implement 3 percent of GDP, more than 5 billion euros, in further austerity measures up.... (Page 10) Papandreou’s government had committed to 14.4 billion euros of fiscal consolidation... of measures by the end of the year on top the existing interventions. (Table 5). That brings the total
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HFSF presents action plan on large corporate loan restructuring, says NPEs reached 103 bln in 2015
EconomyBankingof the personnel expertise and setting of key performance indicators (KPIs) 5) Investigation of the capital... of 1,153 corporate groups with turnover above 20 million euros and loan exposure higher than 10 million... all segments of Greek economy, the study identified 5 sectors, namely tourism, food/beverages, health
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Stournaras eyes easing of capital controls, updates on loan quality and NPL reduction targets
EconomyMacroeconomyrestructuring. Only a fraction of NPE reduction is expected to result from loan sales (5 percent...) and collateral for a permanent easing of bank’s balance sheets from doubtful loans 5) Development within.... The other measures involve allowing loans to be repaid early, increasing from 10 to 30 percent
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Greek stocks fall 1.5 pct, banks underperform for third straight week
Economyto increase Piraeus Common Equity Tier 1 (CET1) ratio by 5 basis points (bps). Titan said on Tuesday... for Eurobank improving its CET1 ratio by 27 bps. Grivalia Properties net profits fell by 76 percent to 5 million in the first half (H1), while its revenues rose by 10 percent to 30.3 million. At the end of June
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Greece’s embattled commercial steel market industry braced for more challenges
EconomyFeaturesglobal market share fall, from 22 percent of global production in 2001 to around 10 percent today... from 10.3 million tonnes in July to 9.01 million tonnes in August.[5] However, any effects from...-overproduction-1472971334 [5] http://www.hellenicshippingnews.com/china-steel-exports-fall-to-six-month
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Greece slips five places to 86th in global competitiveness rankings
EconomyCompetitiveness Index (GCI) remained 81st and had improved by 10 and 5 spots in 2014 and 2013 respectively... (currently ranked 80th), which make up 20 percent of the GCI and 5 slots in efficiency enhances (67th
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Greece and lenders make headway on review but labour reforms remain biggest obstacle
EconomyProgrammethat the Fund demands not only an increase in the ceiling of mass dismissals from 5 to 10 percent but also...) by November 28 so the Eurogroup can ratify the agreement on December 5.
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