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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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Retail turnover increases by 4.3 pct in August, volume rises 3.2 pct
EconomyMacroeconomyhas remained positive for six 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 by 3.2 percent from downward revised growth of 2.3 percent in July. As with the sales index, February has
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APS option to help banks with bad loans seen gaining ground
EconomyBankingimmense pressure over the last month, during which time the index has dropped by close to 12 percent..., which has seen its share price plummet by 65 percent over the last six months. Over the same period, Alpha Banks has lost 42 percent of value, National Bank of Greece share price is down by 55 percent
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Mitsotakis responds to Tsipras challenge with proposals for broad changes to constitution
PoliticsGreek Politicsthe impression that he has the country’s long-term interests at heart and that his suggestions are aimed at improving Greece’s foundations. PASOK PASOK has yet to come forward with its proposals... if there is no clear winner at the ballot box. So far, KINAL leader Fofi Gennimata has not given
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Appeals over past pension cuts sow confusion about potential fiscal impact of backpay
Economybackpay for income lost due to the pension cuts in 2012 has put the spotlight back on a decision... in 2012 as unconstitutional. This, in turn, has placed the focus on the potential fiscal implications of this decision for the pension system. The issue has surfaced at an unwelcome moment
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