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Banks intensify balance-sheet clean up with securitisations, new bonds
EconomyBankingPiraeus Bank and Alpha Bank are both moving forward with actions this week to continue strengthening their balance sheets, with the former extending its ongoing partnership with Swedish loan servicer Intrum AB. Piraeus signed a binding agreement with In...
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Industrial production up by 3.4 percent in January
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) rose by 3.4 percent year-on-year (YoY) in January following a revised increase of 3.5 percent in December, Hellenic Statistical Authority (ELSTAT) data revealed on Wednesday. Month-on-month (MoM), the index dro...
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Wages index up by 4.5 pct YoY in Q4 2020, rises by 3.1 pct QoQ
EconomyMacroeconomyGreece’s seasonally adjusted (SA) Wages Index increased 4.5 percent year-on-year (YoY) in the fourth quarter (Q4) of 2020, following a rise of 3 percent in Q3, Hellenic Statistical Authority (ELSTAT) figures revealed on Wednesday. The wages index captur...
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Parties square up for all-out battle over upcoming labour bill
PoliticsGreek PoliticsParties in Greece are preparing to do battle, as New Democracy’s long-anticipated labour bill looks set to be tabled for debate in Parliament after Greek Easter in early May. The legislation, which the government touts as a modernising reform for the be...
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Industrial production up by 5.5 pct in March
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) rose by 5.5 percent year-on-year (YoY) in March following a revised increase of 4.3 percent in February, Hellenic Statistical Authority (ELSTAT) data revealed on Monday. Month-on-month (MoM), the index rose by ...
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Updated privatisation plan seeks to make up for ground lost in 2020
EconomyGreece’s asset development fund (HRADF) released its updated development plan on Monday, which outlines the latest information on the 23 projects that the fund is engaged in. Based on the plans that were included in this year’s final budget back in Nove...
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Government mulls policing shake-up in response to violent crime incidents
PoliticsGreek PoliticsA series of violent crimes which have taken place over recent weeks are leading the government to rethink its policing strategy, as the effectiveness of its “law and order” policies is coming under scrutiny. Following meetings with high-ranking officers...
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Wages index up by 5.8 pct YoY in Q1 2021, rises by 1 pct QoQ
EconomyMacroeconomyGreece’s seasonally adjusted (SA) Wages Index increased 5.8 percent year-on-year (YoY) in the first quarter (Q1) of 2021, following a rise of 4.5 percent in Q4, Hellenic Statistical Authority (ELSTAT) figures revealed on Wednesday. The wages index captu...
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Teachers threaten revolt over education bill as opposition gears up for summer confrontation
PoliticsGreek PoliticsPrime Minister Kyriakos Mitsotakis told his cabinet to prepare for a working summer as they were briefed on a reform-heavy legislative agenda on Wednesday. Many of the proposals are already facing strong criticism from stakeholders and the opposition, w...
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Deposits edged up further as they rose by 359 mln in May
EconomyMacroeconomyNet deposit movements in the Greek banking system continued to grind higher, increasing by 359 million euros in May, compared with inflows of 3.13 billion euros in April, Bank of Greece (BoG) figures revealed. The outstanding balance of private sector d...
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