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S&P lowers Greek long-term rating by one notch to CCC-
Economyimports such as fuel. Without Eurosystem funding, Greece payment system would shut down and its banks
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An impossible choice
AgoraAs this article was being written a few days ago, various European governments and international funding institutions were discussing the consequences of the expiration of Greece’s current financial assistance programme. Equally, ministries across the euro area were considering the Tsipras
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After 'No' vote, pulling Greek banks back from brink a priority
Economywith the objectives and tasks of the Eurosystem”. Since Greek banks have not any other funding sources
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Greece sends request for 3-year ESM programme, reform proposals to come
EconomyProgrammefuture funding requirements. On the key issue of debt, the letter notes that “Greece welcomes
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General gov't cash primary surplus to May halves, arrears keep rising
EconomyMacroeconomya large part of non-payroll cost to cover its imminent external funding needs. The absolute figures
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Tsipras runs gauntlet as he seeks approval for proposals from cabinet, lenders
PoliticsGreek Politicsas it covers funding needs for the next three years rather than just a few months. Tsipras will also
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Tsipras tries to switch focus from measures to need for survival in euro
PoliticsGreek Politicsbefore the referendum as it covers Greece’s funding needs for the next three years and banishes
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For Greek banks, it's business as unusual
Agoraon deferred tax assets (DTA), NPL dynamics and the consequences of higher funding costs because
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomyLiquidity Assistance (ELA) funding purposes. This item also includes an extraordinary item of 556
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Varoufakis adds to pressure on Tsipras ahead of lenders' return
PoliticsGreek Politicstheoretically has to be in place so Greece can received the necessary funding to meet the maturity
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