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EC ups growth to 2.2 pct in 2019, sees growth in 2020 at 2.4 pct
EconomyMacroeconomyfrom 1.8 percent in the autumn forecasts three months ago. This year’s growth was also marginally... growth stands at 2.2 percent. Net exports are the main contributor for last year’s performance... performance, only easing due to more moderate growth in Greece’s export markets that will impact
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Newsletter 239 -14/02/2020
in 2019, more than double the previous two years, the government’s decision to push ahead with closed... the the governing party ranks as some of the strongest objections to the government’s successive... across the political spectrum a stick with which to beat Kyriakos Mitsotakis’s government. While
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Latest Novartis clash signals deeper battle over role of judiciary
PoliticsGreek Politicstried to set up SYRIZA’s rivals by claiming they had received bribes from the pharmaceutical giant... to damage some of SYRIZA’s fiercest opponents, such as former PM Antonis Samaras, ex-Deputy PM... on the new government’s attempts to go after the prosecutor that launched the Novartis investigation
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Mitsotakis in bid to "square the circle" in EU budget negotiations
PoliticsGreek Politicsin a special summit of European leaders aimed at reaching agreement on the EU’s seven-year budget for period 2021-2027. On Wednesday, government spokesman Stelios Petsas described Mitsotakis’s challenge as “squaring the circle” between what looks set to be a shrunken budget and Greece’s stated aim to keep its
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Govt steps up policy response, hoping to impede Coronavirus
PoliticsGreek Politicshave been identified in the Peloponnese. Clearly, the government’s main concern is that Covid-19 might... in slowing the virus’s progress in some places, like Hong Kong, has not been widely discussed in Greece..., but the opinions of qualified experts are marginalised. The church’s stance has led to calls from
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Tourism industry braces for outcome of gloomy Covid-19 scenarios
EconomyFeaturesacross Greece’s vital tourism sector with fears growing that the summer season could be lost. In its... of the coronavirus is already being felt in Greece’s low tourism season, the adverse scenario sees Greece... of origin, BoG’s data showed that for all of 2019, revenues from German visitors edged down by 0.2
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Newsletter 245 -27/03/2020
measures to shore up the public health system as well as local businesses. Ahead of Thursday’s... as micro-businesses and self-employment in total employment,” according to Scope’s analysts... in disposable income and fears of a recession triggered by the virus’s impact. The survey was conducted
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Piraeus Bank posts net profit of 49 mln in Q4 and 270 mln in 2019
EconomyBankingPiraeus Bank’s final quarter (Q4) results showed profits of 189 million euros compared to a net... Protection Scheme (“HAPS”) to further derisk the bank’s balance sheet. NPL stock came to 16.8 billion euros... reached 1.44 billion, a rise of 2 percent YoY. The bank’s management noted that 4.1 billion in new
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Newsletter 246 -03/04/2020
struggling businesses and workers amid the Covid-19 crisis as this year’s budget comes under further strain... pledged comes to a total of 6.8 billion euros, or around 3.5 percent of Greece’s annual GDP. Despite... of more restrictions on people’s movement being adopted in the coming days, the government continues
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S&P keeps Greece at 'BB-' but revises outlook to stable on Covid-19 concerns
EconomyIn its regular rating cycle, S&P re-affirmed Greece’s credit score to ‘BB-‘, while it revised..., the authorities have a substantial reserves buffer that underpins the country’s creditworthiness... that significantly reduces Greece’s funding needs. Sovereign access to funding is also supported
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