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Details of technical agreement between Greece and lenders set out in draft sMoU
EconomyProgramme(MTFS) for 2018-2021, a pension reform with net savings of 1 percent of GDP in 2019-2021 and a personal income tax (PIT) reform also delivering net savings of 1 percent of GDP in 2020 and 2021... with the new figure ranging between 1,250 euros for a single and 1,450 euros for a family with three
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Banks meet NPE reduction targets in Q3, adjust targets for next two years
EconomyMacroeconomyto the end of September. This quarter’s sales was largely composed of one particular sale by a single... their NPE targets submitted last September to the Single Supervisory Mechanism (SSM) of the ECB by 1.1... in the retail portfolio, by around 1.2 billion. Targets for net inflows of NPEs have been adjusted to a more
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Alpha Bank and Eurobank start new year with further bad loan sales
EconomyBankingresults were more positive than those posted in Q2 and showed a net profit of 41 million euros which... be further reduced to single digits by 2021 with an NPE deconsolidation of approximately 7 billion in a single transaction to the SPV, which the bank will securitise in 2019. All shareholders
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Increase of 11 pct in minimum wage to have knock-on effect in economy
Economyminimum wage of 650 euros gross translates into 546 euros net pay and is almost 64 euros higher... to two monthly salaries annually. The daily wage of single unskilled worker is now set at 29.03 euros... on the current tax-free threshold, a single and unskilled worker on the new minimum wage will cost
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Piraeus confirms deal with Intrum for 27bln in NPLs as Eurobank launches SPV
EconomyBanking) results, Piraeus Bank posted net profits of 14 million euros from continued operations. NPEs fell... the bank noted would be leveraged for their upcoming initiatives. Net profits came to 19.7 million... to single digits by 2021, with an NPE deconsolidation of approximately 7 billion in a single
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Banks tout ambitious NPE plans to return to European mainstream
EconomyBankingtheir NPE ratios down to single-digits by the end of 2022. On the whole, the banks’ performance has been... their NPE-reduction plans to their regulator, the Single Supervisory Mechanism. Under the plans, Eurobank...-sheet cleanup was 2020 net losses of 1.21 billion euros and 662 million euros respectively
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Newsletter 20 - 20/03/2015
single obligation Athens had to meet this month but also leaves the government running low on cash... that will meet with the Eurogroup’s approval is certain to prove a huge challenge over the next few days. Net... by three of Greece’s four systemic banks show that they posted net losses for the quarter as well
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Credit contraction slows to 1.5 pct in Sept on marked drop in corporate loan deductions
EconomyMacroeconomyto 96.59 billion, while the monthly net deductions are the lowest over the past three months. Since... in September with balances reaching 95.09 billion euros. Net deductions slipped to 237 million... in January 2011 and remains in contraction since then with cumulative net deductions of 36.3 billion, while
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Newsletter 70 - 15/04/2016
document estimates net savings of 2.5 percent of GDP are required to achieve a much lower primary surplus... a record low of 692 in absolute terms. Net hirings in March The employment balance showed net... time, the ECB, as the single supervisory authority, is observing the capital requirements of all
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Newsletter 99 - 09/12/2016
the beginning of the year. Overall, net revenues beat the target by 70 million in November and by 2.44... exceeding Greece’s allocated funding quota by over 1,000 percent. Greece is currently the IMF’s single... be mindful of the following: the decision will be characterised by the Fund becoming a net
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