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Budget deficit of 6.38 bln in Aug confirmed; target beaten due to one offs
EconomyMacroeconomyThe budget primary balance was confirmed at a deficit of 6.38 billion euros in the first eight months of 2021, compared with a deficit of 5.48 billion in the same period last year, the final Finance Ministry (MoF) budget execution data showed on Monday....
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Tsipras repeats call for elections with one eye on rising KINAL
PoliticsGreek PoliticsOpposition leader Alexis Tsipras has gone on the offensive against the government’s positive narrative, questioning New Democracy’s record of crisis management and calling for early elections. The SYRIZA president has also signalled the end of the grace...
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Import prices reach one year of contraction with 6.4 pct drop in Jan
EconomyMacroeconomyGreece’s import price index stayed in contraction in January, falling by 6.4 percent year-on-year (YoY), after dropping by 8.7 percent in December, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday. The consecutive ne...
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Producer prices drop 1 pct in Apr, in contraction for over one year
EconomyMacroeconomyGreece’s Producer Price Index (PPI) remained in contraction in April, dropping by 1 percent year-on-year (YoY), after falling by 0.1 percent in March, ELSTAT data showed on Thursday. The index has been in contraction since March last year, although some...
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How economic sanctions on Russia could affect Greek economy
Agoraresidence scheme. The situation remains fluid, and it is possible that sanctions may be extended... programme. The scheme provides residency permits, including Schengen zone travel rights, to third country... and their families have been granted investment-based residency as of January 2021 according to the Ministry
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Court delivers serious blow over TV permits, gov't vows to fight on
PoliticsGreek Politicsthe opposition for the coalition to resign. PASOK and To Potami immediately called for State Minister Nikos Pappas, who was the architect of the process, to resign. Given that Pappas is Alexis Tsipras’s closest... that the government should resign because of the failure of the TV licence tender
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China's bumpy road to Greece
EconomyFeaturesof local firms. Beijing’s “One Belt, One Road” strategy focuses on infrastructure investments to open... and a year of cultural exchange has also been launched. Chinese investment One of the private... investment group Copelouzos, worth up to 3 billion euros. One of China’s biggest investments is Cosco’s 67
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Newsletter 246 -03/04/2020
billion. One-off financial support, consisting mainly of the 800-euro stipend for employees... until the summer. One factor that the government will have to watch out for is how broadly..., and 23.9 percent were “quite” pleased. Significantly, Mitsotakis drew one of these two responses
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The agenda of the first programme review shapes up with thorny issues
EconomyProgramme15 allowed the sale of NPLs related to large corporate loans and non primary residence mortgages. For primary residence NPLs, consumer and SME loans as well as state guaranteed loans an agreement..., including those of primary residences. In contrast, an overhaul of the tax system including an increase
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Landmark Katseli Law ruling hits lenders, eases borrower burden
EconomyBankingthat a borrower will fail a court‑mandated plan and lose their primary residence. For households... residence protection over the maximisation of creditor recovery. It delivers immediate relief... through multi‑year repayment plans that protect primary residences. Under the law, courts set the terms
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