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Newsletter 161 -11/05/2018
the new rates to be in place on June 1, it wants to avoid any sharp rises in working class... percentage points. The Greek lenders started the exercise with Common Equity Tier 1 (CET1) ratios.... This demonstrates the multiplier effect that tourism has on the economy, in that for every 1 euro
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Tsipras pledges array of tax cuts, hopes for break on pensions
PoliticsGreek Politicsto implement next year the 1 percent of GDP reduction to pension spending but did not go as far as declaring..., particularly by boosting consumption. Fiscal Regarding next year’s pension cuts equivalent to 1 percent of GDP... to be implemented in 2020 with the aim of delivering extra revenue equivalent to 1 percent of GDP
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Take your seats
Agoraand the reduction of the top rate of VAT from 24 to 22 percent in 2021, with the lower rate dropping 1 percentage point from 13 percent to 12. He also pledged that 1 billion euros in backpay would be handed over..., not to be used from Day 1. If Greece starts tapping it straight away, it could have serious
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Athens aims for November agreement with lenders on pension cuts
EconomyProgrammeto ensure that the 1 percent reduction in pension spending is not implemented. To Vima reported... agreed with the lenders that as of next year there could be a 1:1 ratio for hirings and departures in the civil service, as opposed to the 1:5 ratio that has been in place for the past few years
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Newsletter 198 -15/03/2019
on €1 bln package The Greek government failed to convince eurozone finance ministers this week to approve almost 1 billion euros worth of debt relief measures and remained locked in talks with its... first month of trading and since issuance the yield has dropped by nearly 1 percentage point, 80
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Newsletter 222 -04/10/2019
Thomas Cook for 1, 2 and 3 star hotels came to an average of 48 percent of overall turnover... that for every 1 euro of tourism revenue generated in Greece, another 2.50 euros is generated indirectly..., with substantial losses in turnover and bankruptcies expected, the HCH said. Hotels with 1 star were estimated
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Piraeus Bank posts net profit of 44 mln in Q3 from continued operations
EconomyBanking(NII) dropped by 1 percent QoQ to 353 million euros, representing a rise of 1 percent year-on-year... (project Phoenix), with a time frame to completion in H1 2020, along with 1 billion commercial... As mentioned, NII stood at 353 million euros, down by 1 percent QoQ and representing a rise of 1 percent
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EU's temporary framework for state aid in response to Covid-19 outbreak
Legalthe 2020 Temporary Framework 1. Direct Grant or Tax Advantages Under the Temporary Framework, the Member...) on the basis of the maturity of the loan (1 year, 2-3 years or 4-6 years), credit risk margins, ranging... at an interest rate, which is at least equal to the base rate applicable on 1 January 2020 plus the credit
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Newsletter 255 -26/06/2020
be broadened so that another 1 billion euros is returned to firms. The process of returning the tax... million for the property tax reduction and 1 billion to reduce social insurance contributions... for a primary surplus of 1 to 1.5 percent of GDP. Also, the pan-EU Recovery and Resilience Fund proposed
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Piraeus Bank posts pre-tax losses of 133 mln in 9M
EconomyBanking) in Q3 stood at 81 million, an increase of 1 percent YoY and unchanged QoQ. The main contributors... to 234 million (-1 percent YoY) including the asset management fee paid to the NPE servicer.... Capital The Common Equity Tier 1 (CET1) ratio of the group in 9M came to 14.1 percent, while the total
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