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Crumbling Greek pension system threatens big fiscal gap, budget derailment
Economydeficit of 1.67 billion euros for 2015, more than 700 million worse than the 968 million budgeted last year. The ministry indicates that this mainly reflects lower than expected social security... for retirees who have been insured with more than one fund. This is one of the key reasons
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Newsletter 51 - 12/11/2015
is the first negative reading since Q4 last year but is better than market polls had suggested. GDP.... The first negative reading since last year, the Q3 figure was better than predicted. 2 A valuable... and to deliver hagiographies of leaders past rather than a measured assessment of what they offered
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Marked rise in expenditure leads to a budget primary deficit in Nov
Economysurplus reached 4.35 billion euros, which is 21.9 percent higher than last year and 1.7 billion better than the target. The year to date outperformance mainly stems from lower primary expenditure... billion euros, 32.3 percent lower than last year and 1.77 billion better than target. It is also
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Primary surplus beat target in 2015 on higher revenues and restrained spending
Economymarked by lower than expected primary expenditure by 626 million as well as higher than targeted Public... higher than target. Despite dropping by 294 million to 3.18 billion (1.8 percent of GDP), property... billion, 448 million lower than target. As a result, net revenues remained almost unchanged (-0.1
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Newsletter 61 - 05/02/2016
will be less wavering in his search for a deal with creditors than last year and may be willing to compromise... less adamant about protecting auxiliary retirement pay than it has about the main payments... by 14.3 percent in December, which was much more pronounced than the 1.8 percent decline in November
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Budget primary surplus surges to 3.04 billion, extending outperformance
EconomyMacroeconomyby more than 1 billion coupled with an increase in net revenues by 800 million. Compared to targets... million better than target. For February in particular, revenues exceeded target by 365 million. Tax..., net revenues rose by 11.1 percent to 8.1 billion, 323 million better than target. Primary expenditure
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Greek banks: Taking stock of a rough 2015 and looking at what lies ahead
Agora1,200 in 2010-2014 to 2,562 at the end of 2014 and the staff by more than 15,000 employees to 44,332..., the cumulative provisions rose by more than 9.7 billion euros to 57.9 billion at the end of 2015 from 48.2...) formation showed mixed trends in the course of 2015. It halved QoQ in Q2, than it doubled in Q3
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Budget primary surplus of 2.68 bln in first quarter, but March trims outperformance
EconomyMacroeconomyin March from more than 3.9 billion in the preceding two months and much lower Public Investment Budget...) more than offsetting lower than expected PIB balance (by 366 million). The state budget balance showed... figure reached 3.04 billion, 83 million better than target. For the 3-month period, revenues rose 4.4
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Newsletter 76 - 03/06/2016
into account the currently applied haircut of around 45 percent, liquidity of more than 5 billion... on year (YoY), slightly worse than the preliminary figures released on May 13. The breakdown revealed... kind of firm in non-compliant countries or ones that have more preferential tax rates than Greece
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During crisis, proportion of Greeks in extreme poverty has risen almost seven times to 15 pct
Societyliving in Athens and paying rent or a mortgage. While no more than 2.2 percent of the population lived... faced lower extreme poverty rates than those with children, with the exception of those with three children, which were in a better position than families with one or two. The survey also found
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