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PWC report finds Greek fire damage above average despite lower incidence
SocietyA report by PricewaterhouseCoopers (PwC) which examined Greece’s firefighting capabilities has found that the country’s system is ineffective when compared to peers. As a result, the country’s fires..., but their firefighting mechanism is better than Greece’s, containing the damage more effectively
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Eurosystem funding down to 12.23 bln in September, banknotes rise for second month
EconomyMacroeconomy, the Bank of Greece's (BoG) monthly financial statement has revealed. September’s movement brings the total for central bank funding to 12.23 billion euros compared to August’s sum of 12.63 billion euros. Since the start of the year, Eurosystem funding has declined by around 21.44 billion. September’s
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Athens and lenders yet to agree on how to drop pension cuts without creating fiscal gap
EconomyMacroeconomythat Greece and the institutions have yet to reach a formal agreement on the cancellation of next year’s... some of this year’s excess surplus in the form of a so-called “social dividend,” with another part... or social spending, for next year. Regling’s comment suggests that the creditors are not convinced
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SYRIZA eyes gains from case developing against ex-defence minister
PoliticsGreek Politicsto the mismanagement and corruption that underpinned Greece’s economic crisis. Its constant effort... in the third bailout) following the party’s first electoral victory in January of the same year. On the flipside, New Democracy leader Kyriakos Mitsotakis also knows that this is one of his party’s
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SYRIZA and ND at odds over proposals for changing constitution
PoliticsGreek PoliticsThe proposals made by Prime Minister Alexis Tsipras regarding the revision of Greece’s constitution... attention, has shifted to SYRIZA’s suggestions. Two points in particular have drawn a reaction from SYRIZA’s opponents and the local media. The first is the idea that Tsipras set out on Tuesday
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Eurobank to merge with Grivalia Properties and create SPV to cut bad loans
EconomyBankingOne of Greece’s four systemic banks, Eurobank, has announced shortly after releasing its third... progress in reaching its NPL reduction larget. The decision was made after a meeting by the bank’s... that is expected to increase the bank’s capital value by 1 billion euros. The deal will take the form
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Greek tax rate hikes among highest in OECD countries, tax report shows
EconomyFeaturesThe OECD’s annual Revenue Statistics report on tax has revealed that Greece’s tax to GDP ratio increased by 0.6 percentage points (pps) between 2016 and 2017, making the country’s tax rises among... to 34.2 percent. The statistics showed that Greece’s tax-to-GDP ratio stood at 33.4 percent in 2000
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To Potami tries to quash speculation about stance on Prespes Agreement
PoliticsGreek Politicsthe possibility it will not support the agreement. A meeting of To Potami’s parliamentary group was held... changes to FYROM’s constitution before the centrists make a final assessment. This leaves the door slightly ajar and there is still a possibility that none of To Potami’s six MPs will support the deal
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Alpha Bank and Eurobank start new year with further bad loan sales
EconomyBankingTwo of Greece’s systemic banks moved into 2019 with increased activity on their disposal... outstanding principal amount of 1.3 billion. The portfolio was acquired by Hoist Finance AB. Alpha’s Q3... reversed a loss of 52.9 million seen in the previous quarter. The bank’s results also outlined
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Kammenos walks out on coalition, triggers confidence vote that will affect timing of elections
PoliticsGreek Politicsand wants all ANEL’s ministers to do the same. As a consequence, Tsipras said that he would call... three of the seven members of ANEL’s parliamentary group are certain to vote against the government... of To Potami’s six MPs, Spyros Danellis, who has suggested that he will back the government even though
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