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Greece changes banks' DTA conversion law to secure ECB/EBA approval
Economywill be reduced each year by the amount of the year’s corporate income tax. d) As of 2015, whenever a bank reports a full year pre-tax loss, a portion of the conversion rights will be exercised into common... rights in a loss making year. Although bankers and brokers expect Greek banks to turn profitable
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Newsletter 1 31/10/2014
for the government to use as a precautionary credit line to help exit Greece’s bailout at the end of this year.... September’s figure is the lowest this year. There was a MoM increase in corporate lending outflows... confidence improved by almost 5 points to -50.9 from -55.8 in September. The year to date balance has
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National Bank posts 9-month profits of 1.18 bln
EconomyBankingyear, the lender announced on Thursday. Results are not comparable since this year’s figure... from losses of 178 million last year. In addition, comparable quarterly net profits landed at 91... lower bond NII. Operating expenses fell 11 percent year on year (YoY) in the 9-month period but rose
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Greece returns to growth after long recession, GDP figures show
EconomyMacroeconomyAuthority (ELSTAT). GDP at constant prices rose 1.7 percent year on year (YoY) in Q3 after growth of 0.4... revealed that Greek GDP had also posted growth during the crisis year of 0.5 percent in Q1 2010. ELSTAT.... Estimates for international tourist arrivals have been upward revised three times this year
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Is there (sustainable) growth in Greece?
AgoraGreece finally exited its six-year long recession in the third quarter of 2014. The Hellenic... economic stabilisation is primarily the result of a very successful tourism season in 2013 and this year... growth of 0.6 percent this year and a level of GDP of 2.9 percent in 2015. The leading Greek economic
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Travel receipts up again in September, reaching 2.3 bln
EconomyMacroeconomyin August. In absolute terms, travel receipts reached 12.02 billion euros from 10.82 billion last year. The year to date travel payments posted a slower increase (+9.6 percent) to 1.55 billion. As a result... billion YoY to 10.47 billion euros from 9.41 billion last year. Rising travel receipts are due
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Target revisions leave 880 mln budget shortfall in Oct despite 2.6 bln primary surplus
Economythe downward revision of the full-year revenue and expenditure targets was broadly similar (634 and 501... in the last month of the year compared to a relatively low target, whilst the year to date actual figures indicate a significant over performance compared to the even distribution of full year targets
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Greek economic sentiment and consumer confidence up again in November
EconomyMacroeconomyis the fifth reading above the 100-point mark in 2014 and the third highest for the year. The peak this year was recorded in June at 104.1 and has eased by 1.4 points since then. However, the year to date (YtD) evolution shows an improvement by more than 10 points on the year-end 2013 figure of 91.4. Economic
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Greece moves closer to troika over fiscal gap, waits for response
EconomyProgrammefewer tourist arrivals next year compared to 2014, with travel receipts shrinking by 1.6 billion euros... for international tourist arrivals to 23 million in 2014, implying a rise of 15 percent on last year’s figure. Revenues are expected to rise to 14 billion euros this year. In addition, all current indications
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Six in 10 Greeks earn less than average salary of €1,022 in private sector
Society, Spain and the UK in 2013 were below their 2007 levels. In Greece’s case, real wages last year were about 75.8 percent of what they were six year’s previously. The labour ministry data revealed... year’s figure. The figures also showed that just over half of workers (50.7 percent) are in the 30–44
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