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Referendum and the ECB to determine the future of Greek banks
Economythen, it is estimated that the ELA liquidity buffer has been reduced to around 25 billion. Assuming... of 90 billion plus buffer of 25 billion), we conclude that the nominal value of the ELA-eligible... Greece has to redeem a GGB of 3.5 billion held by the ECB. Although rating agencies have noted
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National Bank reveals capital plan, which includes sale of whole Finansbank stake
EconomyBankingscenario of the stress test. The bank's capital plan has three key pillars aiming to cover total...) of Finansbank in NBG's book stands at 3.4 billion euros, while Finansbank's market cap has climbed to 6.1... Tier 1 (CET1) capital of 6 billion and CEt1 ratio of 9.5 percent. The announced capital actions plus
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Gov't submits multi-bill to pave way for next bailout tranches
EconomyProgramme, 220,000 for couples, increasing by 20,000 for each child. The borrower has to be deemed... and the property has to be the primary or sole residence. In addition, an independent assessor... is reportedly expected to convene on Monday to formally approve the disbursement of the 2 plus 10
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Greek stocks rise 2.7 pct during week as bailout agreement nears
Economy. The review completion could unlock 5.7 billion plus additional funds for clearance of arrears... 27. Following this week’s performance, the domestic market has erased earlier losses..., mostly led by Alpha, while the cumulative gains of the banking index has reached almost 30 percent
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Marfin Investment Group EBITDA up 75.6 pct in Q1
EconomyMarfin Investment Group (MIG) has released its Q1 2016 financial report showing that consolidated... versus the same period last year. This was attributed to Greece’s ongoing economic recession plus..., listed on the Athens Stock Exchange since 2007, has a portfolio which includes leading companies
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Fiscal dispute dominates as Greece and lenders gear up for more talks
EconomyProgrammeon December 8 that the fiscal gap for 2017 has almost been eliminated, as was also confirmed by the December... of GDP plus 0.5 percentage points due to the impact of the current measures on growth. A potential... for the upfront legislation of new fiscal measures. The government has refused to pass new measures now
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Tsakalotos and Stournaras raise objections to IMF assumptions
EconomyProgrammelast May, should lead to increased potential growth in the future. In contrast, the IMF has lowered... servants plus the expenditure of certain welfare benefits. However, the state transfers for eurozone... BoG has estimated that the achievement of non-performing loan (NPL) reduction targets will further
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Greek banks complete first round of covered bond issues
EconomyBankingAlpha Bank has become the latest among Greece’s four systemic banks to carry out a successful... and 2.75 percent yield to maturity. The bond is listed on the Luxembourg Stock Exchange and has... of Piraeus Bank’s 10 billion euro covered bond programme. The yield was set at the 3-month Euribor plus 250
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New government aims for extensive changes to education system
Societywould also be supported. Summer and winter courses in areas where Greece has a strong background, such as tourism, culture and shipping, would be supported, plus new technologies would be invested... means that for the past 30 years or so, passing the exam has depended heavily on paying
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Govt looks for ways to manage promised tax cuts as Mitsotakis continues European charm offensive
PoliticsGreek Politicspercent for incomes up to 10,000 euros, at an additional cost of 500 million euros in 2020 (plus an extra... was on track to miss the target 3.5 percent primary surplus. To counterbalance this, it has been emphasising... has so far yielded just over 200 million euros, and the government is hoping to triple that amount
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