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Current account deficit improves significantly in 9M, falling to 7 bln
EconomyMacroeconomyGreece’s current account recorded a deficit of 408.8 million euros in September, from a surplus of 1.1 billion euros in August, Bank of Greece (BoG) data released on Thursday showed. In September 2024, the balance showed a deficit of 486 million euros. ...
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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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Newsletter 423 - 17/05/2024
for SYRIZA, 3 for PASOK, 2 apiece for Communist Party KKE and Greek Solution, 1 for Course for Freedom and 1 for New Left. According to the latest opinion poll by Interview for the Politic.gr website... is projected to win 11 pct, ahead of ultranationalist Greek Solution in fourth on 7 pct. The Communist
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From pipe dreams to power cables: the changing map of Greece's energy ambitions
Agorathe original version of the document which was adopted as recently as 2019[1]. Like most facets... event. Meanwhile the ripple effects of the October 7 Hamas attack are still unfolding. Before assessing... the high cost of investing gas as a “transition fuel”: imports cost the Greek economy 7 billion euros
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Eurobank records net profits of 85 mln in Q3, updates on NPE reduction targets
EconomyBankingstock by 37-38% by the end of 2019. This means that the bank committed to reduce its NPE stock of 20... 20 percent each to the total NPE cut, while write-offs will make up the remaining 40 percent... guarantee (pillar II) expenses. Operating expenses fell 1 percent QoQ to 247.3 million in Q3, while
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