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  1. General gov't primary cash surplus up to 5 bln in 2016, arrears fall by 1.1 bln in Dec
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    to 5.26 billion. Social benefits of 40.1 billion euros holds the lion’s share making up more than half...-residents (excluding EFSF/ESM/IMF) by 303 million more than offsetting a drop in EFSF/ESM/IMF loans by 282..., up by more than 5 billion from last year on the back of ESM disbursements of 10.3 billion mitigated

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  2. Banks see efficiency gains after shedding 29 pct of staff, 42.6 pct of branches during crisis
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyBanking

    of bank employees dropped by more than 20,000 to 46,654 at the end of 2014 from 65,682 at the end of 2009... market have dropped by 29 percent or by more than 19,000 during the crisis years, from 2009 until... more than halved from 426,500 at the end of 2009 to 194,800 at the end of 2014. Since then, the number

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  3. Tsakalotos and Stournaras raise objections to IMF assumptions
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    EconomyProgramme

    incorporated only substantial downside risks rather than being a baseline scenario.” Specifically, Tsakalotos... suggestion for lower tax-free threshold, since more than half of Greek taxpayers do not pay personal... is significantly less than the average household number. The Greek finance minister also disagrees

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  4. Seven years of demanding the impossible in Greece
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    Agora

    and the recession will be deeper and longer than expected, he warned. Blanchard’s scepticism and warnings... revenue-raising measures and spending cuts that are equivalent to more than a third of its economy and more than double what Blanchard had described as unprecedented almost seven years ago. The Greek

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  5. IMF comments, blog leave no doubt credible debt relief has to be agreed soon
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    EconomyProgramme

    than levels that that have a clearly negative impact on the economy, with tax revenues falling... to be based on realistic, rather than heroic assumptions, on growth prospects going forward that could... lose more than if they had promptly faced the facts”, the Fund concludes clearly controverting

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  6. Revenues beat target by 3.9 pct in Feb, remain above target for year

    EconomyMacroeconomy

    in February amounted to 331 million euros, 83 million or one-third higher than target. As a result, net... into account, the better than expected revenue performance in January, the 2-month gross revenues... exceeded the target by 1.7 billion euros largely due to higher than expected revenues from corporate

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  7. Compromise proposal on table ahead of Friday's Eurogroup
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    EconomyProgramme

    by spreading measures over two years (2019 and 2020), with more than two thirds of the pension cuts and less than one third of the tax reform being implemented in 2019 and the remainder taking effect in 2020... reportedly proposed a ceiling on pension cuts so no pensioner suffers a reduction of more than 20-25

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  8. Greek banks meet NPE and NPL reduction targets in Q4 2016, mostly on write-offs
    Photo by Panayiotis Tzamaros/Fosphotos

    EconomyBanking

    was reduced to 104.8 billion, a billion lower than target of 105.8 billion, while the NPL pile stood at 75.9 billion, 400 million better than target of 76.3 billion. A similar trend was also evident... portfolio. In contrast, the default rate was lower than the cure rate in residential loans. The key

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  9. Foreign minister opens up about EU concerns
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    PoliticsForeign Policy

    of the grouping than Greece’s chief diplomat he chose to begin his speech by calling on the EU to abandon... on stereotypical ideas rather than policies.” An autonomous role? Some SYRIZA members and government... note than most of his EU counterparts, saying that “the negotiations between the European Union

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  10. Don't celebrate a French reconnection for EU just yet
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    Agora

    the latter have a corrosive effect on the European project. Voter pool More than 7.5 million French... packaging. It has many guises and can be much more insidious than we care to admit. If mainstream... or Beppe Grillo than to admit that something might be wrong. It is true that the EU has taken

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