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Accommodation and food services index rises by 13.4 pct in Q2
EconomyMacroeconomy(Q2) of 2015 at an accelerating pace compared to the Q1 growth rate of 6 percent, according... million this year. If confirmed, this would mean 1 million higher arrivals compared to last year’s figure of 24 million and 1 million above SETE initial estimate of 25 million. In addition, Andreadis
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Signifcant underspend covers revenue shortfall for budget primary surplus to August
EconomyMacroeconomythat a large part of the revenue underperformance is attributed to: 1) SMP and ANFA income of 1.72... in August, with the 8-month figure up by 1 percent to 7.35 billion, proportionally in line with the full... proportionally below target. These mainly involve: 1) Grants to Manpower Employment Agency (at 32 percent
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The key points in Greece's new bank recap bill
Economyframework: 1) A bank that has been deemed viable by the Bank of Greece (BoG) may apply to the Hellenic... is allocated among preference shares and other Core Tier 1 (CET1) instruments, Tier 1 instruments, Tier 2... price or previous issue prices (including those capital increases covered by HFSF). 6) The liability
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Piraeus Bank reveals mitigating actions aimed at reducing size of capital increase
EconomyBankingthat would be approved by the SSM. The list of Piraeus capital actions includes: 1) Two Liability... million relate to senior bonds and 225 million to junior bonds. 2) Increase of Common Equity Tier 1... to the preliminary results submitted to the SSM. 6) Lower charges by 81 million euros for the derivative exposures
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Notable increase in grants to social security sector leads to budget primary deficit in Nov
Economyfar this year, and also stands almost 1 billion above the monthly target. Salaries and pensions.... These mainly relate to: 1) Grants to Seamen’s Pension Fund – NAT (at 76 percent of the FY target of 1... children (at 69.4 percent of the FY target of 650 million) 6) Grant to the Intergenerational Solidarity
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The pension and revenue interventions Greece has to make to meet its 2016 fiscal target
EconomyProgrammesavings of 1 percent of GDP for 2016. In the 2016 budget, the Finance Ministry (MoF) adopted those cost... increase in the social security contributions by 1.5 percentage point (1 for employers and 0.5... the fiscal target of 0.5 percent of GDP. The key ones are: 1) VAT streamlining (900 million
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Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
EconomyBankingincome decreased by 6 percent to 605 million in Q4 Despite the sharp rise QoQ in Q4 loan provisions... stock falling by around 1 billion euros from its 2015 level of 26.88 billion. The bank also disclosed... Eurosystem funding shows 13.7 billion relate to EFSF and ESM bonds, 14.4 billion to loans, 1 billion
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NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
EconomyBankingreflects: 1) Negative impact of 1.16 billion euros from Finansbank (mostly additional impairment of 612... pre-provision income (PPI) improved by 6 percent quarter on quarter (QoQ) to 190 million in Q4.... Net interest income (NII) edged up 1 percent QoQ to 474 million euros, largely due to lower
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IMF sets out stall ahead of crucial Eurogroup by proposing immediate debt relief
EconomyProgrammesustainable, the IMF suggests: 1) Maturity extension of 14 years for EFSF loans, 10 years...) Payment deferrals that would arise from extending the grace periods by 6 years for ESM loans... is weaker (1 percent) and primary surplus lower (1 percent of GDP), debt would not become sustainable
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Adult skills in Greece lacking, indicates OECD survey
Societyadults (26.5 percent) in Greece are proficient at or below level 1 in literacy (compared to the OECD average of 18.9 percent) and almost 28.5 percent score at or below level 1 in numeracy (6 percentage... in 24 countries. The adult skills survey was conducted in Greece from 1 April 2014 to 31 March 2015
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