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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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Lenders set to keep coalition waiting for answer on pension cuts
PoliticsGreek Politicsnot 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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Retail turnover in July up by 4 pct as volume rises 2.5 pct
EconomyMacroeconomyindex 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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Amid market turbulence, Greece searches for scheme to help banks reduce bad loans
EconomyBankingdeleveraging throughout the crisis has hampered their core business and subsequently their profitability... of Cyprus to Piraeus in 2013. The deleveraging has taken the stock of loans in Greece to just over... are not available yet, this type of solution has been used by other countries that have faced banking
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Unemployment at 19 pct in July as inactive population increases
EconomyMacroeconomythat unemployment has remained under 20 percent. During the month, employment fell by 32,616 people... that the figure has exceeded 3.8 million since February 2012. The numbers of those unemployed also...) from last year to 23.7 percent. This figure has been in decline since the high of 31.6 percent
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Athens and lenders yet to agree on how to drop pension cuts without creating fiscal gap
EconomyMacroeconomy. The coalition has also pledged 765 million euros of “positive” measures, mostly in the form of tax reductions... that Greece has the fiscal space to implement all of the measures it wants, to not impose the pension... last week that Brussels has approved Greece’s draft budget and that the pension cuts will be scrapped
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Disposable income grows by 3.3 pct in Q2
EconomyMacroeconomyincome has remained in positive territory for five consecutive quarters, with the latest rate..., disposable income has fallen by 21.2 percent, or by 8.28 billion, as salaries were cut during a wave... percent, and stood at 15.88 billion. Employee compensation has fallen by 16.5 percent over the last seven
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