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Credit contraction further accelerates to 2.2 pct in November
EconomyMacroeconomybringing the year to date negative flow at 429 million. Loans to sole proprietors fell to 13.46 billion...-profit institutions decreased to 94.67 billion with cumulative deductions of around 3 billion year... in November. Since the beginning of the year, the negative flow in the sector reached 2.35 billion
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High unemployment, falling wages damaged sustainability of largest Greek pension fund
EconomyMacroeconomybut grew to 2.21 million at the end of 2014. The total amount of wages contracted in each year... rose year on year in 2014 for the first time during the crisis years by 380 million euros to 22.85... 46,000 in that year. The reduction in the minimum wage in 2012 as well as the shift towards more flexible
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Search for solutions, not scapegoats in EU's refugee crisis
Agorayear (more than 850,000 arrived in Greece compared to 43,500 in 2014 – an almost 20-fold increase... for taking part in the most rescues in Greece during the year. They had saved a total of 1,322... number of refugees each year directly from Turkey. In the meantime, though, Greece appears
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Q4 GDP contracts 0.6 pct QoQ, recession of 0.7 pct in 2015
EconomyMacroeconomyalso displayed GDP fell 1.9 percent year on year (YoY) in Q4, at a similar rate with the Q3 performance... from the 2.8 percent drop posted in Q3. The aggregate figures for the whole year display real GDP... outlook, was much milder than initially forecasted. In the 9-month period of the year, when GDP initially
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The refugee crisis and the beast within
Agorafar been a transit country. It may have received close to 900,000 arrivals last year, and more than 100,000 already this year, but none of these people want to stay in Greece. They understand... working as a translator for an NGO on one of the Greek islands. At the height of the crisis last year
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When the refugee crisis met the bailout review
Agorathat it did last year, when Defence Minister Panos Kammenos claimed that a collapsing Greece would... at the same time would be a recipe for disaster. We saw last year how Greece’s state machinery seized up... that last year fought all the way to keep Greece in the eurozone – and we were the strictest – can one
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Newsletter 66 - 11/03/2016
expenses and including one-off items. The bank expects positive bottom-line results this year... for a sustained economic recovery. The OECD expects a marginal recession of 0.1 percent this year and a GDP... that the relocation programme adopted last year has failed. The lack of participation from most EU member states has
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Greek relief at EU-Turkey refugee deal but heavy lifting lies ahead
PoliticsForeign Policyof refugees and migrants at more than 47,500. Although the pace of the relocation scheme announced last year... a two-year target of 160,000. The European Commission has targeted at least 20,000 relocations... was the Greek prime minister’s first appearance before the press at an EU summit in more than a year
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Piraeus Port Authority announces profit increase for 2015
EconomyBankingrecorded 1,678,490 passengers in transit last year compared to the 1,854,916 cruise passenger journeys...-breaking tourism year in 2015, as well as the refugee crisis which saw ferry lines running at full... Central Piraeus Port) recorded a passenger increase of 3.68 percent compared to the previous year
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Newsletter 68 - 01/04/2016
intends to pay state arrears of 7 billion euros to the private sector by the end of the year... system. New Democracy also tabled the next day a proposal for a parliamentary inquiry into last year’s... not seeing out their four-year terms. The last time a Greek administration stayed in power for its full term
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