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  1. Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
    Photo by MacroPolis

    EconomyBanking

    formation has declined. The bank reported that across the last 12 months, NPE reduction has come... (-5.6 billion euros) and NPE sales (-2.4 billion euros). Piraeus Bank has been stepping up efforts... balances stood at 3.8 billion in late August 2018. A total of 3.1 billion in new loan generation has

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  2. New overdue taxes rise by 377 mln in July, total stock above 102 bln for second month

    EconomyMacroeconomy

    of 428 million euros, data from the Independent Authority of Public Revenues (IAPR) has shown... of 80 million month-on-month, which was almost entirely driven by rises in new debt. Total debt has... 88.6 percent in June. The aggregate rate of collectibility came to 81.4 percent. The IAPR has set

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  3. Tsipras pledges array of tax cuts, hopes for break on pensions
    Photo by Andrea Bonetti/Fosphotos

    PoliticsGreek Politics

    problem has been addressed as a result of the June Eurogroup agreement. He argued that this secured... Macedonia, clashed with riot police. Tsipras insisted that the agreement, which still has to be ratified... partner, to trigger snap elections over the name deal. Kammenos has made it clear that he

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  4. Q2 wages index falls by 0.4 pct QoQ and rises by 2.6 pct YoY
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    quarter marks four straight quarters where the seasonally adjusted index has remained over the 90-point... was recorded in Q1 2000. Since its peak, the index has declined by a quarter on the back... now out of its final bailout programme, the government has been keen to win over voters with a focus

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  5. Card transactions in Greece experience boost due to capital controls

    EconomyBanking

    of 2015 were cited as a key driver for the jump in card payments in Greece, where cash has... data has been made available, the figure had jumped to 12.1 percent, only 2.7 percentage points (pps... lifting capital controls. The Ministry of Finance has been stepping up efforts towards the lifting

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  6. Mortgage loans a key piece of NPL reduction puzzle

    EconomyBanking

    . In particular, the mortgage sector has displayed poor performance when it comes to bringing down..., mortgage lending has continued to be the one sector where bad loans are not falling at a fast enough pace... to be formally submitted for NPL reduction targets between 2019-2021, a separate category has been

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  7. Divisions emerge within ANEL over vote on Macedonia name deal
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsGreek Politics

    Parliament has met with opposition from some of his own MPs. Kammenos reiterated his position... in favour of the agreement. This would help SYRIZA, which has 145 out of 300 MPs, get closer to the majority... tip the balance in the favour of Prime Minister Alexis Tsipras, who has vehemently defended

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  8. Lenders set to keep coalition waiting for answer on pension cuts
    Photo by Panayotis Tzamaros/Fosphotos

    PoliticsGreek Politics

    not believe in the structural nature of the measure any longer. “Our view has been on the pensions... Draghi said that the Frankfurt-based organisation no longer has any say in the state of Greek public..., mainly via its managing director Klaus Regling, has been trying to strike a balance by not ruling

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  9. Retail turnover in July up by 4 pct as volume rises 2.5 pct
    Photo by Pavlos Svoronos/Fosphotos

    EconomyMacroeconomy

    index has remained positive for five straight months so far. Apart from the negative reading in February, the index has remained positive throughout this year. The corresponding volume index also grew..., February has been the only month this year that the volume index fell into negative territory. Compared

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  10. Equivocal Macedonia name referendum leaves Athens hanging on as views differ

    PoliticsGreek Politics

    ) on the agreement with Greece to rename the Balkan country North Macedonia has triggered doubts regarding... Minister Panos Kammenos, has said he and his Independent Greeks (ANEL) party will not support... settlement in the months to come or whether the process has hit a brick wall as a result of the turnout

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