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IMF voices concerns over long-term debt, sees more relief being needed
EconomyProgramme14 billion euros are rolled over smoothly. However, the IMF has reservations whether the debt deal is sufficient to ensure market access in the longer-term. Greece has achieved the recent high primary... relief has considerable credibility given the level of financing and support that the eurozone has
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Unemployment in Greece falls to 19.5 pct in May, below 20 pct for first time since Sept 2011
EconomyMacroeconomythat the unemployment has dropped below the 20 percent mark since September 2011 when it stood at 19.2..., which is the first time that the figure has exceeded 3.8 million since February 2012... to April. Against the same month last year, the number of unemployed has fallen sharply by 113,718
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Retail turnover in June grows strongly led by fuel and supermarket sales
EconomyMacroeconomyhas remained positive for five months in the first half of the year with February the only negative... down 4.2 percent growth in May. As with the sales index, February has been the only month this year... has remained positive throughout the year, having improved by 20.1 points year to date, reaching
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Piraeus Bank posts net profit of 24 mln in Q2, ELA funding fully eliminated
EconomyBankingformation 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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New overdue taxes rise by 377 mln in July, total stock above 102 bln for second month
EconomyMacroeconomyof 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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Tsipras pledges array of tax cuts, hopes for break on pensions
PoliticsGreek Politicsproblem 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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Q2 wages index falls by 0.4 pct QoQ and rises by 2.6 pct YoY
EconomyMacroeconomyquarter 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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Card transactions in Greece experience boost due to capital controls
EconomyBankingof 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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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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Divisions emerge within ANEL over vote on Macedonia name deal
PoliticsGreek PoliticsParliament 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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