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Greek banks' capital backstop and the funding gap: An uneasy relationship
Economybillion taking also into account: a) proceeds of circa 1 billion stemming from: one-off presubscription... related to bank recap (110 million), interest income (232 million) and b) an amount of 1 to 1.2... at the end of June - the definition of the Core Tier 1 threshold with a reduction by 1 percentage point
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No let up ahead in terms of fiscal demands for new Greek government
EconomyProgrammeto generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super... will be abolished starting from October 1 for islands with higher incomes, which are also the most popular destinations, and is due to be extended to the other islands as of Jun 1, 2016. Other measures
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Greek 2016 draft budget contains 6.4 bln in new fiscal measures, sees recession ahead
EconomyMacroeconomyon investments, consumption and domestic tourism. Despite GDP growth of 1 percent in the first half of the year..., investments are anticipated to rebound by 4.5 percent, exports to decrease at a slower pace by 1 percent... relate to: Expenditure and cost savings (2.39 billion – 37.5 percent of total) 1) Increase in health care
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Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Economyrise in other income to 34 million from 8 million in Q1 resulted in an improvement in operating income by 1 percent QoQ to 597 million. After a drop in Q1, expenses headed north in Q2 increasing by 1...) to 275 million. Gross loans slipped by around 1 percent QoQ to 70 billion in Q2, whilst deposits
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Pension and income tax reform bill sets out 4.4 bln in new measures
EconomyProgrammeof the proposed measures. The government aims to collect additional annual revenues of 1.7 billion euros (1... and around 640 million to incremental revenues. Cost savings 1) Elimination of the solidarity grant.... 8) Lower pension ceilings – 98 million. 9) Lower family allowances for new pensioners – 23 million
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Athens grapples with awkward reduction of tax-free threshold
EconomyProgrammepersonal income tax compared to a eurozone average of just 8 percent. This leads the Fund to conclude... legislated last May an income tax reform yielding 1 percent of GDP by 2018. This included an increase... of 7,723 euros), Greece could achieve 1 billion euros in savings that could sustainably finance
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General govt primary cash surplus at 2.91 bln in Feb, arrears rise by 83 mln
EconomyMacroeconomytransfers which increased strongly by 1 billion to 2.01billion euros from 1.01 billion a year ago... underlying subcategories. The biggest fall came from tax refunds which fell by 8 million euros...) and extrabudgetary funds (-1 million). Increases were noted in hospitals (+87 million) and local governments
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Greece takes first round against Covid-19 but fight continues
Agora, Greece spent 8 percent of its GDP on healthcare, substantially below the EU average. Healthcare.... The appointments were to abide by a 1:1 replacement rule (one hire for each departure) and would therefore... the 1:1 ratio for the health service, and to continue the hiring programme put in motion
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Where is Odysseus? Part 4 - Unemployment and Employment
Agoraon the macroeconomy of Greece.[1] In blog 16, we updated the demographic projections for Greece and found... previous averages. How does this look in Greece? Figure 1 above gives a view. The average.... But inflation continued to be higher than in trading partners by an average of around 1 percentage point
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Newsletter 349 - 02/09/2022
, bringing the ruling party’s backing down to 31.4 pct. Support for SYRIZA has edged up by almost 1 point to 25.1, while PASOK saw an increase of 1 point to 12.1. There was little change among the other... of the Transition Fund are not expected to exceed 1 billion euros in September, which means that the state budget
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