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Labour reforms, fiscal measures loom largest as Athens resumes talks with lenders
PoliticsGreek Politicsfinance ministers meet on March 20. Prime Minister Alexis Tsipras suggested on Friday, following... to be implemented from January 1, 2019. Athens is hoping that the volume of measures will be reduced slightly... since) by 1 percent of GDP in one go from 2020. This seems to be the proposal from the lenders
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In tight election race, rare TV debate carries element of unknown
PoliticsGreek PoliticsWith just over 10 days to go until the September 20 vote, party leaders are preparing to go... figure to rule out cooperating with New Democracy after September 20. However, such comments should... (roughly 2 percentage points or more) on September 20 to consider the option of teaming up just with PASOK
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Better contribution collection for Greek pension funds but 5.1-bln shortfall looms
Economyunpaid pensions, 1 billion from lump-sums and 450 million from unpaid supplementary pensions. POPOPK...: a) 7 billion euros is related to lower contributions due to high unemployment, with the number of unemployed surging by 1 million to 1.34 million in Q1 2014 from 364 thousand in Q3 2008. b) 3 billion
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Tracking Greece's fiscal performance
Agoratime. Figure 1 shows the overall fiscal balance over 10 years through 2022-Q2 as reported by two key... are calculated on what is called a “modified cash basis,” the dashed line in Figure 1. This means... at the time when these have an economic impact (solid line in Figure 1), even if the budget cash impact
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Why did Greece return to bond markets now? Was it the right decision?
Economyilluminate this debate. 1) Why did Greece issue this bond now? The Greek government had been... to continental Europe, 15 percent to the rest of the world and 7 percent was distributed to investors in Greece... the desired target than an auction does. The fact that the bond was oversubscribed more than 7 times also
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This is what the ECB’s comprehensive assessment tells us about Greek banks
Agoraby almost 7 percent in the 2015-2017 period in the adverse scenario compared to a modest drop by 1 percent.... Capital needs From a starting point of Common Equity Tier 1 (CET1) capital of 25.8 billion in June... 1 billion in the baseline and 16 billion in the adverse stress test. This resulted in a capital
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The pension and revenue interventions Greece has to make to meet its 2016 fiscal target
EconomyProgrammesavings of 1 percent of GDP for 2016. In the 2016 budget, the Finance Ministry (MoF) adopted those cost... increase in the social security contributions by 1.5 percentage point (1 for employers and 0.5... on January 7. They deemed it the least painful to safeguard the viability of the pension system
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Eurobank to merge with Grivalia Properties and create SPV to cut bad loans
EconomyBankingthat is expected to increase the bank’s capital value by 1 billion euros. The deal will take the form... be further reduced to single digits by 2021 with an NPE deconsolidation of approximately 7 billion... of the 7 billion transferred to the SPV and 2 billion from the securitisation of 2 billion euros-worth
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NBG reports net profits of 131 mln in Q1, accelerating profitability
EconomyBankingoperations excluded voluntary exit scheme costs of 94 million and restructuring costs of 7 million... loans, -43 million in mortgages and -7 million in consumer loans. The group NPE ratio fell by 210... (-29 million euros) and consumer loans (-1 million). This led the group NPL ratio to stand at 28.2
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Piraeus records loss of 3.09 bln as aggressive NPE reduction carries impairments
EconomyBankingto an NPE ratio of 16 pct, from 45 pct at the end of last year. This is thanks to the 7 billion euros securitisations of Phoenix and Vega in Q2 2021, 7 billion euros of Sunrise 1 in Q3 2021 and 3... Sunrise transformation plan, which is due to be concluded with 1 billion euros of Sunrise 3 in early
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