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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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Minor changes in Greek deposit and lending interest rates in May
EconomyMacroeconomymixed trends with that for amounts between 250,000 and 1 million euros slipping by 6 bps to 5.17... by 1 bp to 4.84 percent. The minor changes in the average deposit and lending rates led the average spread of the Greek banking market edging up by 1 bp to 4.41 percent in May.
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Newsletter 92 - 14/10/2016
by the Hellenic Statistical Authority (ELSTAT) on Monday showing that the Consumer Price Index (CPI) fell by 1... the previous month in August after decreasing by 1 percent in July. Overall, despite the modest decline... production fell by 13.7 percent, but accounts for just 6 percent of the IPI. Manufacturing
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Newsletter 95 - 11/11/2016
of 23.3–23.5 percent in 2016, which is expected to fall by 1–2 percentage points in the following... in October, after a decline by 1 percent in September. The slight drop is mostly attributed... and transport prices by 2.4 and 1 percent, respectively. It is worth noting that the harmonised index
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Bank of Greece reveals lenders' NPE challenge and sets out path to recovery
EconomyMacroeconomy, liquidations at 11.5 billion (10.8 percent), loan sales at 7.4 billion (6.9 percent) and collections at 6... and shipping just 1 percent. In addition, the consumer and housing loan portfolios will contribute..., 1 percent better than the target of 106.9 billion, while the respective ratio stood at 51 percent
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Time deposit rate edges down to 0.76 pct, loan rate spikes to 5 percent
EconomyMacroeconomynew deposits marginally down by 1 bp to 0.37 percent, which is also a new historic low since 2002... for amounts over 1 million euros, where the interest rate climbed 97 bps to 4.91 percent and more than... and 1 million euros remained almost flat at 5.33 percent. Following the evolution in October
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Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows
EconomyMacroeconomyin the share of private consumption expenditure via plastic money by 1 percentage point results in an increase in VAT revenues by 1 percent in the first year and up to 6 percent over the long-term. Moreover... 2016, while the effective rate is estimated to have increased by 1 percentage point due
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Tsakalotos and Stournaras raise objections to IMF assumptions
EconomyProgrammeits long-term growth assumption from 1.25 percent to 1 percent, which is an oxymoron, according... returns in 2016 stood above 6 million corresponding to a total population of 10.8 million, which... Greece’s fiscal outperformance in 2016 and reduction in long-term growth rate from 1.25 to 1
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Banks gear up for stress tests, with results due in May
EconomyBankingby 0.5 percent this year and grow by 1 percent in 2020, whereas commercial real estate will grow by 0.3... IFRS 9 implementation Greek banks are expected to increase provisions by roughly 6 billion euros..., Greek banks had a systemwide Common Equity Tier 1–CET 1 of 17.1 percent, while Capital Adequacy
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