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  1. Eurosystem funding decline picks up pace to 3.26 bln in April

    EconomyMacroeconomy

    bailout programme. Following this, the majority of the fall (76.55 billion) originated from a lower... the reinstatement of the waiver on Greek government securities along with the lower haircut applied on ELA

    3%
  2. Eurobank net profits at 34.5 mln in Q1
    Photo by MacroPolis

    EconomyBanking

    . Commission income fell by 8.4 percent QoQ to 64 million, driven by lower fees from network... deposits and lower Eurosystem funding reliance, commenting that the uptick in business lending seen

    3%
  3. Tsipras waits on name issue and debt talks, Mitsotakis pledges tax cuts for tourism
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsGreek Politics

    two VAT rates: 22 and 11 percent, with tourism-related services being in the lower bracket. He said that the lower taxes would create “growth momentum” but called for entrepreneurs in the tourism

    3%
  4. Banks meet NPE targets in Q1 but mortgage reductions remain slow

    EconomyMacroeconomy

    was reduced by 4.7 billion euros quarter-on-quarter (QoQ) to 92.4 billion 1.3 billion lower than the target... euros, around 600 million lower than the target. Residential NPLs landed exactly on target at 20.5

    3%
  5. Building permits fall by 2.3 pct in March, absolute permits rise above 1,000
    Photo by MacroPolis

    EconomyMacroeconomy

    were lower by 31. The corresponding surface area rose by 3.2 percent after a slight decrease of 2.2... to 13,847. Although this is higher than that for 2016, it remains around 86 percent lower than the peak

    3%
  6. The race to reduce Greece's bad loans

    EconomyBanking

    , 1.3 billion lower than the target of 93.6 billion. NPL stock came to 63.9 billion, landing exactly... NPLs came to 35 billion euros, around 600 million lower than the target. Residential NPLs landed

    3%
  7. S&P upgrades Greece to 'B+' on back of Eurogroup agreement
    Photo by Panayotis Tzamaros/Fosphotos

    Economy

    . On the other hand, policy shifts that will reverse the reform process or GDP growth lower than... to a lower credit rating. According to S&P, the graduation from the adjustment programme

    3%
  8. Eurosystem funding falls by 716 mln in May
    Photo by MacroPolis

    EconomyMacroeconomy

    (77.21 billion) originated from a lower reliance on ELA funding. The decline in central bank funding... with the lower haircut applied on ELA collateral, participation of Greek banks’ EFSF holdings

    3%
  9. Piraeus enters agreement for sale of 2.2 bln loan portfolio
    Image via www.piraeusbankgroup.com

    EconomyBanking

    (QoQ) to 92.4 billion, 1.3 billion lower than the target of 93.6 billion. NPL stock came to 63.9... the quarter, corporate NPLs came to 35 billion euros, around 600 million lower than the target

    3%
  10. BoG report outlines benefits of surveillance and scenarios for debt
    Photo by MacroPolis

    EconomyBanking

    in scenario 3 primary surpluses lower than 2.2 percent that the Eurogroup assumed, at 1.5 percent... meets this criterion. However, scenario 3 of lower primary surplus breaches the 20 percent threshold

    3%