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Piraeus reports net loss of 37 mln in Q1, records negative NPL formation for first time since 2008
EconomyBankingmillion a year ago. The banks’ core pre-provision income (PPI) improved by 14 percent quarter on quarter... billion in Q4. They rose 7 percent from last year. As a result, loan loss reserves reached 17.4... billion for the whole year with the NPL stock at the end of 2016 falling below last year’s level
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Paddling with a wooden spoon
Agoranot become a controversial topic in Germany ahead of next year’s elections. The Eurogroup statement... doubts remain about whether the IMF will join the programme by the end of the year with new funds. Its... and sizeable debt relief, partly because of the negative impact that last year’s prolonged
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Unemployment rate eases to 24.1 pct in March, lowest in four years
EconomyMacroeconomyrate among men fell by 2.2 percentage points (pp) from last year to 20.4 percent, while that of women... in the 25-34 year old age group by 3.1 pp to 30.6 percent and in the 35-44 year old by 1.9 pp to 21.2 percent... percent in 2016 and further to 23.6 percent next year, while the OECD projects lower jobless rate
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BoG cautions on impact of tax rises, updates on rising NPEs
EconomyMacroeconomythe investment environment in the second half of the year, while a marginal recession of 0.3 percent... of 2015 to 35.6 percent at the end of 2015 from 33.8 percent a year ago. In more detail, 54 percent of consumer loans were classified as NPLs at the end of 2015 from 49.5 percent in the previous year
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Hirings outpace job departures by 76,591 in May for fourth positive monthly balance in a row
EconomyMacroeconomyto the corresponding period last year, the Labour Ministry’s information system (Ergani) data showed on Wednesday. In addition, this year’s figure means that there has been a positive balance for the fourth... of 201,056, up by 6,523 from last year’s figure of 194,533. This year’s absolute figure is the highest
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Five-month budget primary surplus of 2.27 bln, revenues outperform in May
EconomyMacroeconomyby more than 50 percent from last year’s figure of 1.51 billion, the Finance Ministry (MoF) preliminary... budget deficit fell by almost 41 percent from last year to 828 million euros in the 5-month period... for the 5-month period showed that revenues increased by 2.4 percent from last year to 18.4 billion, beating
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Industrial production up again in May with 2.9 pct increase
EconomyMacroeconomybasis, May recorded a drop of 1.9 percent compared to April. In the year to date, industrial... year. In May, mining and quarrying, electricity production and water supply posted decreases of 22.8... to May 2015. In the year to date, mining and quarrying have seen a contraction of 18.2 percent
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Finance Ministry says revenues beat revised target by 105 mln in July
EconomyProgrammeof 1.05 billion euros and 777 million respectively. This means that the year-to-date revenue..., largely due to the personal income tax payment. In the first half of the year, revenues exceeded... reached 3.96 billion. Another crucial tax for revenue collection in the second half of the year
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Lower bad loan provisions and increased write-offs for Greek banks in Q2
Economyfor the first half (H1) to 886 million. Last year, banks increased provisions by 1.7 billion euros in H1... billion euros in 2015, while all indications point to a notably lower figure for this year... last year. In H1 2015, the bulk of write-offs (843 million) was recorded in Q1, while only 165
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Economic sentiment rises to 92.5 pts in Aug, consumer confidence edges down for second straight month
EconomyMacroeconomy2015. During this year, ESI has edged up by 4.9 points. Consumer confidence moved in the opposite... recorded in July, and landed at -70.1. Since the beginning of the year, consumer confidence has... rose for the third consecutive month by 2.2 points to -5.1 extending the year to date improvement
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