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Lenders fret over reform delays as Brussels revises 2019 growth forecast upwards to 2.2 pct
EconomyProgrammein 2018, around 2 billion euros remained unpaid at the end of December. The Finance Ministry has argued... from the previous estimates in Autumn. The Commission sees 2018 growth settling at 2 percent... is estimated to reach 2.2 percent in 2019 and 2.3 percent in 2020, compared to an estimate of 2 percent
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Piraeus Bank posts net profit of 185 mln in 2018
EconomyBanking2017. Net interest income (NII) rose by 2 percent quarter-on-quarter (QoQ) and came to 355 million... formations in mortgages (-63 million) and consumer loans (-21 million). NPL stock came to 17.4 billion... and leasing exposures). P&L As mentioned, NII rose by 2 percent in Q4 to 355 million euros and declined
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GDP rises by 0.8 pct QoQ in Q2, increases by 1.9 pct YoY
EconomyMacroeconomyrepresenting around 67 percent of the headline GDP number. Government spending represents around 21... that in June, international arrivals by air rose by 2 percent. In the aggregate period, arrivals rose by 4.4... compared to an estimation of 2 percent in the autumn forecast, and in line with the interim winter
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Hotel owners sound warning over Thomas Cook revenue losses
EconomyFeatureswere 1, 2 or 3 star establishments, 32 percent were 4 start and 21 percent were 5 star. The lower.... Specifically, the amount of turnover generated via Thomas Cook for 1, 2 and 3 star hotels came..., while those with 2 stars faced a loss of 58 percent. Hotels with 3, 4 and 5 stars faced losses of 39
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PDMA sets 2020 goals to build on improving conditions for debt
Economy, substantially limiting interest rate risks in the debt markets. With the average maturity of Greece’s debt at 21... percent from 2024 onwards, inflation at 2 percent, an average effective rate on the debt at 3.4.... In scenario 2, which includes early official sector repayment, the new transactions will come to 8
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Fitch raises Greece to 'BB,' two notches from investment grade, sees growth at 2.5 pct in 2020
Economymaturity of 21 years makes it the longest in Fitch’s universe and with servicing costs of 6.2 percent... percent below the 2008 level, and rising by just 2 percent in the first nine months of 2019. Fitch sees... of 0.6 - 2 percent, and the IMF’s estimate of 0.9 percent. Fitch welcomes the developments
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Newsletter 249 -08/05/2020
every 1 to 2 weeks. As things stand, Greeks are not able to leave their regions but the government aims... billion euros on April 2, following the Eurogroup decision to waive the fiscal targets of the post... June and will be gradually be phased out as the economy and parts of its sectors resume activity. 2
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Newsletter 277 -11/12/2020
budget (-4 million) and extrabudgetary funds (-2 million). Hospital arrears rose by 10 million MoM... slight 1 million. 2 Unemployment rate at 16.1 pct in Sept Rate for same period in 2019 stood at 16.9... for the same period last year by 21 percent. The month-on-month rise in Greece's new tax debt came
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Newsletter 279 - 05/03/2021
%, with SYRIZA also falling to 20%. Among the 17-34 age group, support for both parties starts at 21... is focussing on the liability side of its balance sheet, with a 500 million-euro issue of subordinated Tier 2... points. The Tier 2 bond issue will bolster the bank’s capital adequacy by about 125 basis points
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Newsletter 335 - 15/04/2022
higher towards 2 pct of GDP, from 1.4 pct previously. Finance Minister Christos Staikouras also... the primary surplus to 2 pct of GDP this year, there is a steep fiscal effort coming in 2023, having... campaign in 2023 offering more tax relief measures, which by some estimates require 2 billion euros
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