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Piraeus Bank issues Tier II bond to strong demand
EconomyBankingPiraeus Bank’s closely watched Tier II bond issue was deemed a success after raising 400 million... of increasing Piraeus Bank’s total capital ratio by around 90 bps. The issue has been rated Caa3 by Moody’s and CCC by S&P. Bids landed at over twice the asking amount, with a total of 135 investors
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Report exposes fractured and incomplete response to refugees
SocietyA report by Pro Asyl and Refugee Support Aegean has heavily criticised Greece’s asylum seeker reception framework and highlighted significant failures and lack of cohesion in the country’s refugee...-Turkey deal implemented in 2016, despite several years of dealing with the issue, Greece’s response
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Greek banks maintain focus on key areas as elections approach
EconomyBankingGreece’s systemic banks are continuing tackling several key issues as the summer sets... the successful issue of Piraeus Bank’s Tier II bond earlier in the month, the banks are also looking at how... in their first quarter (Q1) financial results. Piraeus Bank’s Tier II bond issue raised 400 million
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ND defends plans for three-pillar pension system as SYRIZA looks for weak spot
PoliticsGreek PoliticsThe future of Greece’s pension system was in the election campaign spotlight on Wednesday as SYRIZA... the pension system. SYRIZA sees this as a potential weak link in the centre-right party’s programme and has... it expects the costs of its plans to be for Greece’s pension system. When Mitsotakis first unveiled his
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Tsipras responds to criticism of SYRIZA record in bid to rally support
PoliticsGreek PoliticsAlexis Tsipras’s interview with Skai TV almost a year on after he issued a ban on SYRIZA officials... on a range of issues, but all of which focussed on SYRIZA’s 4.5 years in power and not on his party’s... spread out over three years and were primarily aimed at repaying Greece’s debt. However, the SYRIZA
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The main economic challenges that will define the Mitsotakis reign
Agorainheriting “scorched earth” from the previous administration. In short, as far as the country’s... is not challenging enough, Greece’s creditors believe that after the latest round of expansionary measures.... Taxes v investment Investment is central to Mitsotakis’s plans. It forms the basis of his tax plans
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Newsletter 216 -26/07/2019
to overcome any difficulties created by the proportional representation voting system used in May’s local... will find out at the end of August how much ENFIA they will have to pay in the coming months. This year’s..., the European Commission estimated that this year’s primary surplus would be no higher than 2.5
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Fitch leaves rating unchanged, notes recovery potential and tricky fiscal balance
Economy+’ equivalent, with a stable outlook. Greece remains three notches from investment grade in Fitch’s scale. This is the second consecutive review after February’s that Fitch has left its rating for Greece unchanged. Fitch’s rating is supported by high income per capita levels, the exceptionally
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Government looks to boost business-friendly credentials with visits, progress on investments
PoliticsGreek Politicsto focus heavily on investments, including the government’s privatisation plans and particularly those.... Mitsotakis sees it has his mission to convince key European partners of his government’s determination to implement reforms and build trust, as a prelude to any future negotiations. Mitsotakis’s government
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H1 bank results show performance stabilising, laying ground for further improvement
EconomyBankingGreece’s systemic banks reached the end of the first half of 2019 with relatively strong... of the year compared to H1 2018. In total, the bank’s profits in H1 came to 25.7 million euros, down..., taking the total to 594 million. Eurobank’s net fee and commission income rose by 13 percent YoY to 156
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