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  1. Court ruling on pension cuts could create new problem in talks, fiscal plans
    Photo by MacroPolis

    EconomyProgramme

    that pensions had already been cut before they were reduced further in 2012. The cost of such a decision... monthly installments, with the cost of 415 million (half of the nominal 829 million) burdening the 2014... for pensions below the 700-euro limit. The government estimates that the cost of the partial reintroduction

    5%

  2. Draft bill sees millions in savings and revenues from variety of bailout interventions

    EconomyProgramme

    the draft bill provides some details about the anticipated revenues and cost savings from the prior actions. In particular: Social security funds are expected to have cost savings from changes... of non-wage subsidies is seen resulting in annual cost savings of 22 million. 8) Annual cost of 8.1

    5%

  3. Sharp increase for Greek bank provisions in Q2 due to capital shortfall highlighted by ECB

    EconomyBanking

    cost more than offsetting the increased wholesale funding cost, particularly in Q2, due to the higher... on the back of lower deposit cost, leading core PPI (excluding one-off items) up 1.1 percent QoQ... more than offsetting the lower time deposit cost. Gross loans slipped 1 percent QoQ to 73.28 billion

    5%

  4. Newsletter 61 - 05/02/2016

    Newsletters

    of understanding target for pension cost savings of 1 percent of GDP (1.8 billion) in 2016... numbers rose slightly, output charges and input costs decreased. 2 Counting the cost of migration European integration will depend on how burden of cost is shared Fortifying border management is a costly

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  5. Unresolved pensions issues complicate the fiscal front

    EconomyProgramme

    to the Auxiliary Insurance Fund for Public Sector Employees (TPDY). The incremental annual cost..., of which 2.91 million were main pensions with a monthly cost of 2.1 billion and 1.65 million were supplementary pensions with a monthly cost of 279 million. This entails an annual pension cost of 28.54

    5%

  6. Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
    Photo by MacroPolis

    EconomyBanking

    exceptional costs of 163 million euros in Q4 of which 110 million relate to cost provision of a new voluntary exit scheme, 35 million to resolution fund’s cost and 19 million to other one-off costs... billion for the full year, on higher funding cost related to increased reliance to the Emergency Liquidity

    5%

  7. NBG records loss of 2.05 bln in Q4 on one-offs and jump in credit risk provisions
    Photo by MacroPolis

    EconomyBanking

    deposit cost in the Greek market driven by time deposit repricing and deposit mix rebalancing. In contrast..., NII fell 5 percent to 1.91 billion euros. It was mainly dragged downwards by the higher ELA cost... of waiver on Greek government securities and lower deposit cost. Fee income strongly rebounded by 18 percent

    5%

  8. Government hopes offer of tax breaks and grants will spark growth boost

    EconomyMacroeconomy

    for up to seven years of the leasing cost of new equipment, subsidy of the new job positions’ payroll cost and funding of the business risk. The minimum required amount of investment that would be included... or external funding under the condition that 25 percent of the total investment cost does not include any

    5%

  9. Alpha Bank posts net profits of 41 mln in Q3, discloses NPE reduction targets
    Photo by MacroPolis

    EconomyBanking

    cost was offset by lower loan and bond NII. Going forward the management expects NII to remain broadly stable as the anticipated ongoing drop in funding cost would be counterbalanced by further decrease... QoQ to 257 million in Q3 entailing a cost of risk (provisions over gross loans) of 168 basis points

    5%

  10. Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
    Photo by MacroPolis

    EconomyBanking

    down 0.5 percent QoQ to 453.2 million in Q4 as the positive impact from the lower funding cost... declined by 73 percent to 925 million for the whole year. As a result, cost of risk (provisions over net..., aggressive cost management and lower cost of risk, while foreign asset disposals are estimated to have

    5%