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Despite cuts, pension system still at risk due to old-age dependency
Societycountries, pensioners over 65 were found to have an average income which was around 12 percent lower... percentage points lower, respectively, than the average poverty rate. In Greece’s case, this may point
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Total overdue tax obligations rise to 100.74 bln, up by 1.19 bln in November
EconomyMacroeconomy, slightly lower than that for the same period last year (68.7 percent). Corporate income tax due rose.... On an aggregate basis, the rate was much lower and came to 11.1 percent, tied to revenues of 45.6
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Manufacturing wage cuts were turned into profit, GSEE study claims
EconomyFeaturesA study by the General Confederation of Greek Workers (GSEE) has stated that lower wages during the crisis resulted in greater profit margins for companies rather than lowering prices. Wage... that reduced costs of manufacturing were not passed on to the market in the form of lower prices, but were
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December current account deficit at 1.24 bln on falling services balance
EconomyMacroeconomy. This was mainly caused by lower net travel receipts. In December, while travel receipts rose by 0.8 percent... payments, leading to a services balance of 10.7 million, which is 34.5 million euros lower than
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Eurosystem funding drops by 4.58 bln in January, banknotes in circulation fall
EconomyMacroeconomyprogramme was agreed. The majority of this fall (69.34 billion) comes from a lower reliance on ELA... of the waiver on Greek government securities along with the lower haircut applied on ELA collateral
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Eurosystem funding drops by 2.80 bln in February, led by ELA reduction
EconomyMacroeconomy. The majority of this fall (71.71 billion) comes from a lower reliance on ELA funding. The decline... government securities along with the lower haircut applied on ELA collateral, participation of Greek
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Piraeus Bank makes net profit of 12 mln in Q4, edges into profitability for 2017
EconomyBanking, digitalisation initiatives, lower advertising expenses and overall cost cutting efforts. In the conference... of 2016, which reflects the lower EFSF/ ESM bond holdings due to the ongoing exchange in the framework
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Banks meet NPE targets in Q4, reduction at highest rate since start of crisis
EconomyMacroeconomy, which is 1.6 billion lower than the target of 95.9 billion. NPL stock came to 65.1 billion, which is around 800 million lower than the target of 65.9 billion. The NPE ratio stood at 48.6 percent in Q4
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Eurosystem funding drops by 1.45 bln in March as ELA reduction offsets ECB rise
EconomyMacroeconomyfrom a lower reliance on ELA funding. The decline in central bank funding across the last two years reflects the reinstatement of the waiver on Greek government securities along with the lower haircut
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Newsletter 161 -11/05/2018
billion. This represents a rise of 321 million month-on-month, which is notably lower than February’s... by 0.4 percent, lower prices in housing, notably rentals and electricity/gas. The Finance Ministry’s
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