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Eurosystem funding falls 8.6 bln in June in aftermath of waiver reinstatement
EconomyMacroeconomythat from the 45 billion euros of deposit outflows in the first half of 2015, one third of withdrawals in the form of banknotes was kept under mattresses, while one third was transferred to bank accounts abroad and the remaining one third was switched to international money market funds.
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Newsletter 83 - 22/07/2016
for the winning party, or the one in second place, to gather multiple partners to form a new... together. The possibility of such a government being formed seem slim. One provision of the law passed... lenders to reach an agreement on debt relief. He added that lower fiscal targets could be one
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Simple majority for new electoral law, which threatens future complications
PoliticsGreek Politicsand try to get a supermajority, meaning the one voted through Parliament never applies. In fact, New... that rather than having to find one coalition partner (e.g. Independent Greeks, who would gain two more... but had not been there for others, including the one given by his coalition partner, Independent
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Unpopular but effective property tax returns for another year
EconomyMacroeconomyThe single property tax (ENFIA) has become one of the most contentious taxes in Greece, adding... of 81.2 percent. The latter confirms ENFIA remained one the taxes with a relatively high... million euros. The next bracket involves around 1.5 million taxpayers (one in 5) who declare
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HFSF sees market value of bank holdings plunge to 2.4 bln after closure, capital controls
EconomyBankingof 9.33 billion, a one-off expense of 555.9 million and impairment from banks under liquidation... (CoCos), while a gain of 1.27 billion was recorded from warrants’ revaluation. The one-off expense... (in the form of shares) in NBG and Piraeus in November corresponding to one quarter of state aid
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Final list of bidders confirmed ahead of contentious auction for TV permits
PoliticsGreek PoliticsTV and two newcomers: One backed by construction firm owner Yiannis Kalogritsas and the other... in Skai TV but has no other background in television. The one glaring absence from the line-up... of stations able to broadcast nationally (from the current seven), links between one of the bidders
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Eurobank remains profitable with net profits of 46.2 mln in Q2
EconomyBankinginclude one off gains related to the Visa transaction and sale of EFSF bonds and the negative impact from extraordinary provisions involving one large corporate of the retail sector (Marinopoulos). Core... to 224 bps in Q2 from 176 bps in the previous quarter. The QoQ spike relates to one specific case
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After joy of TV permit auction, Tsipras faces programme restrictions
PoliticsGreek PoliticsInternational Fair on Saturday, which will be one of the milestones for the Greek government this week... part in the process, raising the possibility that at least one of the challenges may be successful... in Bratsilava, where Greece is expected to be one of the main issues on the agenda. There have already been
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Lesvos fire highlights growing threat to government from refugee crisis
PoliticsForeign Policyis one of the most serious, although not obvious, political risks for the current government... have seen tourism on islands like Lesvos plummet this year, is a dangerous one. The matter is made... for the government, and turn what has largely been a localised problem into a national one.
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Greek SMEs continue to have bleak view of their future
Society. For every one company showing signs of improvement, there are ten in serious financial difficulty... in ten small businesses are in arrears to their social insurance fund; one in five are behind in their utility bills while one in three have fallen behind in repaying bank loans. IME-GSEVEE compiled
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