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Eurosystem funding for Greek banks shoots up by 11.2 bln in December
EconomyMacroeconomyin December reflects the combined effect of: 1) Deposit outflows of circa 3 billion in December, which...) Higher haircut on state-guaranteed ECB collaterals which reduced the system’s liquidity by almost 1... eligibility as of March 1, 2015. These collaterals relate to pillar II bonds of a government liquidity
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Greek DSA: Don't Say Anything about the debt
Agora. There is a forecast for high privatization proceeds that exceed 1 percent of GDP each year until 2020, peaking at 1.7... of the privatization proceeds assumptions that will not exceed 1 percent of GDP for debt purposes would... for all participants. The assumptions that were set out at the end of 2012 and were maintained
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Greece deal hangs in balance as IMF sees major differences
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
PoliticsGreek Politics) agreed to the institutions' target of a 1 percent of GDP primary surplus for this year. Tsipras did... that Greece might be offered a deal that softens lenders' positions beyond those set out in the proposal..., according to the IMF spokesman. Lenders want Athens to cut spending on pensions by 1 percent of GDP
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Newsletter 30 - 12/06/2015
stemmed from time deposits, while sight and savings recorded outflows of 2.9 and 1 billion... and by deeming this unacceptable, SYRIZA set the pain threshold much lower. The problem, though... on some issues, such as lower fiscal targets for the next few years (1 percent of GDP for 2015, 2
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How Greek banks were left on the brink
Agoraloss reserves - LLRs) against credit risk rose by more than 1 billion euros in the course of Q1...-for-sale portfolios. As a result, banks’ Basel III Common Equity Tier 1 (CET1) ratios, which ranged... at the end of last year. Following the 1 billion euros in additional provisions recorded in Q1, the CET1
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Newsletter 32 - 26/06/2015
lenders go into Saturday’s crucial Eurogroup with a substantial gap to bridge. Below we set out... revenues of 1 percent of GDP (1.8 billion euros) on an annual basis, while Greece sees them at 0.93... 1 July along with the other VAT The lenders’ proposals will burden Greek shipping and tourism
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Greek banks in intensive care: What lies ahead?
Agoraand are generally compatible with the BRRD framework. The BRRD lays out a set of common measures... bank failure cannot be avoided. The resolution tools mainly consist of powers to: 1) Effect private... banks. At the end of Q1 2015, Greek banks’ Basel III Common Equity Tier 1 (CET1) ratio stood at 12.7
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EU makes dramatic revision to economic forecasts, sees recession of 2-4 pct this year
Economytargets. In specific, a primary deficit of zero to 1 percent is now projected for 2015, a primary balance of 1 to 0.5 percent in 2016 and a primary surplus of 2.25 to 2 percent in 2016. However... the 15 percent threshold set by the IMF in a number of years. The average ratio increases to 13.1
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What this week's VAT changes mean for household budgets and public coffers
EconomyProgrammeincluded a large reshuffling of VAT rates. The new basic VAT rate was set at 23 percent, while... rates applied to islands starting from October 1 for islands with higher incomes, which are also the most popular destinations, to be extended to the other islands as of Jun 1, 2016. This would result
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Early rounds of talks with lenders focus on possible prior actions
EconomyProgramme. These measures involve: 1) Changes in the laws for hirings in the public sector, settlement of tax arrears... levy rate was set at 6 percent. The institutions are also asking the government to adopt legislation... and other tax measures that would increase revenues, a primary deficit of 0.75 to 1 percent of GDP
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