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Newsletter 219 -13/09/2019
workers will be reduced from July 1 next year. Mitsotakis said the aim is to bring them down by 1... in those employed, bringing the total to 3.96 million. The number of long-term unemployed (over 1 year... in August, following a 1 percent rise in July. Greece’s Consumer Price Index (CPI) remained contracted
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Newsletter 29 - 05/06/2015
lenders are demanding new fiscal measures of around 3 billion, which is markedly higher than the 1–1.5... surplus targets to 1 percent of GDP for 2015, 2 percent in 2016, 3 percent in 2017 and 3.5 percent..., for the 1 percent primary surplus target to be met, additional measures of 3 billion have to be adopted
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Greek banks' equity raising could keep official support to a minimum
Economy, and hybrid securities is activated. CoCos, which qualify as Common Equity Tier 1 (CET1) capital “pari passu... an annual coupon of 8 percent. In addition, they are mandatorily converted to common shares if a bank’s... and 78 million to Tier 1 securities. Bondholders are offered the option for a share exchange at 100
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Newsletter 22 - 03/04/2015
Focus on meeting obligations Most critical dates for debt repayments this month fall on April 8–9..., the upcoming 6-month T-Bill auction will take place on April 8, a day before the IMF payment date. Back... to the rollover of 1 billion in 3-month securities issued in January. Since foreign investors were already
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The legal framework and latest developments in international investment arbitration
Legalin Article 8 of the 1991 Netherlands-Slovakia Bilateral Investment Treaty (BIT) has an adverse... to Art. 8 of the BIT between the defendant State and the Netherlands. Eureko claimed damages... of its accession to the European Union, recourse to an arbitral tribunal provided for in Article 8 (2
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Greek coalition left with bailout exit conditions it wanted to avoid
PoliticsGreek Politics, for the next 6 to 12 months before it can achieve the clean exit the government had hoped for a few months... and 2016. The credit line is likely to be based around some 8 billion euros that Greece will return... is now aiming for is December 8, when the next Eurogroup will be held to decide what the next steps
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Almost all services in Greece saw decline in Q3
EconomyMacroeconomyin the third quarter (Q3) of 2014 with 12 out of the 14 service activities recording a drop, according...) and advertising and market research (-14.4 percent). From the other 8 sectors that showed a single-digit decrease, architectural and engineering activities turnover fell 8 percent in Q3
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How Greece's political system failed to safeguard the largest investment in the country's history
Agorathe assessment. Largely via those two actions, banks enhanced their capital by 8 billion euros, with Alpha’s... exercise date. Of the 12 banks under resolution, the HFSF estimates the recoverable amount at 2.02 billion... and also holds 4.07 billion of NBG and Piraeus CoCos bearing a return of 8 percent per annum
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IMF examines where programme went wrong, what lessons were learnt
EconomyProgrammeexpenditure cuts (almost 8 pp of GDP), primarily in social benefits, including pensions, and wages... and July 20, 2015. Macro Nominal GDP in 2013 and 2015 was about 12 and 20 percent below the initial... declined by almost 8 percent in 2012. Conditionality The 2015 DSAs appropriately suggested reframing
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Aided by underspend, budget primary surplus reaches 1.84 bln in 5-month, 792 mln above target
EconomyMacroeconomyquarter from last year, while outperformed target by 794 million. Revenues Gross revenues rebounded by 8... million, spot on target. Overall, PIB balance posted a slight surplus of 12 million in the 5-month period in line with target of 8 million.
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