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Eurosystem funding rises to 13.2 bln in October, banknotes up for third month
EconomyMacroeconomy, the Bank of Greece's (BoG) monthly financial statement has revealed. As of the latest month, the total... euros. Since the start of the year, Eurosystem funding has declined by around 20.47 billion. October... to bring the total to 9.64 billion. ECB funding has risen for two consecutive months so far. This month
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Coalition closing in on goal of cancelling pension cuts
PoliticsGreek Politicspercent of GDP reduction to pension spending next year. The final hurdle that the coalition has...-legislated measure to be scrapped. Achieving this concession has been a major political goal for Prime... from the MoU and, in fact, that the SYRIZA leader signed up to a fourth programme. This has been one
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Athens prepares final 2019 budget after green light to ditch pension cuts
EconomyProgrammepartners. “The IMF no longer has a financial arrangement with Greece so we are not engaged in the details.... “They are really issues for the Greek government and for the Europeans now in the framework that has been... clear where the extra money has been allocated but it was suggested over the past few days
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Tsipras encounters obstacle in efforts to secure church deal
PoliticsGreek Politicsof the head of the Church of Greece, who reportedly has a good relationship with Tsipras. It also came... and remove the priests from the payroll, a move which it has the authority to carry out. This may... in a very difficult position within the church and Tsipras in danger of losing someone he has
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Pension deal rekindles speculation about election date
PoliticsGreek Politicswill no longer be included in next year’s budget, has rekindled speculation about when Alexis Tsipras..., for the last few weeks it has seemed more likely that he would opt to call elections a few months earlier... the end of May. The indications are that no firm decision has been taken so far and that the issue
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European Commission approves 2019 budget, urges focus to meet end of year reform goals
EconomyProgrammethe continuation, completion, and delivery. The first surveillance report concludes that Greece has presented... has been finalised and meets the agreed primary surplus target with the overall budget balance next.... Spending under-execution has contributed to budgetary over performance in recent years, even though
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Newsletter 184 -23/11/2018
of a social dividend before Christmas as it has done in the previous two years. Following the abolition... reform commitments to be achieved by end-2018 are progressing, but none has been completed yet. The pace... to fall. The report noted that while employment growth has slowed down, the share of full-time
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Developments, poll data spark new round of speculation over elections
PoliticsGreek PoliticsThere has been renewed speculation in the Greek media over the past few days about the timing... that SYRIZA has not been able to gain any traction since Greece exited the third programme in the summer.... The speculation also comes in the wake of several opinion polls which indicate that SYRIZA has not been able
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Tsipras points to tax cuts as example of bailout exit benefits
PoliticsGreek Politicsof the interventions is felt and as SYRIZA has a chance to get its narrative across, the political balance... the timing of next year’s election until he has a clear picture of how the “positive measures” are shaping... of reduction, according to the data provided by the government. The government has also prepared
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Athens moves quickly to scrap pension cuts as Eurogroup inches forward on euro reform
EconomyProgrammea provision for scrapping the pension cuts it had agreed in 2017. The draft law has been submitted under... substantial progress on the reforms it has agreed in six areas over the next few weeks as the Eurogroup has... off any hopes the coalition has of issuing a bond in the coming months. “Let me just say
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