Search
-
Newsletter 32 - 26/06/2015
revenues of 1 percent of GDP (1.8 billion euros) on an annual basis, while Greece sees them at 0.93... 1 July along with the other VAT The lenders’ proposals will burden Greek shipping and tourism... parties agree on permanent savings of 0.25–0.5 percent of GDP in 2015 and 1 percent on a full year basis
13% -
Marked drop of 50 bps in new time deposit rate in July amid capital controls
EconomyMacroeconomyrelate to loans with fixed maturity. In particular: 1) Sharp rise by 89 bps to 5.83 percent for amounts above 250,000 and below 1 million euros. 2) Significant drop by 58 bps to 3.94 percent for amounts above 1 million euros. The July rate indicates the lowest reading since June 2010. Greek corporate
13% -
The key points in Greece's new bank recap bill
Economyframework: 1) A bank that has been deemed viable by the Bank of Greece (BoG) may apply to the Hellenic... to boost capital by 100 percent if capital needs are not fully covered. 3) In case the said capital... is allocated among preference shares and other Core Tier 1 (CET1) instruments, Tier 1 instruments, Tier 2
13% -
Piraeus Bank reveals mitigating actions aimed at reducing size of capital increase
EconomyBankingthat would be approved by the SSM. The list of Piraeus capital actions includes: 1) Two Liability... million relate to senior bonds and 225 million to junior bonds. 2) Increase of Common Equity Tier 1... scenario, stemming from additional Deferred Tax Assets (DTAs). 3) Asset disposals including the sale
13% -
Greece passes latest omnibus bill, looks to next actions ahead
EconomyProgrammeactions for the disbursement for the second sub-tranche of 1 billion, euros has not been defined yet. However, it is widely rumored that it will involve: 1) A comprehensive solution on the management... targeting the pledged cost savings of 1 percent of GDP in 2016 including cuts in pension above a threshold
13% -
Notable increase in grants to social security sector leads to budget primary deficit in Nov
Economyfar this year, and also stands almost 1 billion above the monthly target. Salaries and pensions.... These mainly relate to: 1) Grants to Seamen’s Pension Fund – NAT (at 76 percent of the FY target of 1 billion) 2) Grants to Manpower Employment Agency (at 72.1 percent of the annual target of 750 million) 3
13% -
Coalition poised to unveil pension reform proposals, hoping to avoid cuts
EconomyProgrammethose paying social security contributions as well as pensioners, include: 1) Consolidation of all... pension with both being guaranteed by the state. 3) The national pension will amount to 384 euros... system. The third memorandum of understanding (MoU) calls for pension cost savings of 1 percent
13% -
The pension and revenue interventions Greece has to make to meet its 2016 fiscal target
EconomyProgrammesavings of 1 percent of GDP for 2016. In the 2016 budget, the Finance Ministry (MoF) adopted those cost... increase in the social security contributions by 1.5 percentage point (1 for employers and 0.5... the fiscal target of 0.5 percent of GDP. The key ones are: 1) VAT streamlining (900 million
13% -
Newsletter 60 - 29/01/2016
in excess of 1 percent anticipated by the institutions. Meanwhile, the positive mood resulting from... euros in Q3, down by more than 1 billion from last year. The fall is mostly due to an 8 percent... euros in Q3, household disposable income was down by more than 1 billion from last year. 2 Solutions
13% -
Time deposit rate almost stable in December, average loan rate rises 17 bps
EconomyMacroeconomyGreek households’ new time deposit rate rose by 1 basis point to 1.02 percent in December, Bank... in corporate lending were recorded in loans for amounts above 1 million euros, where rate rose by 19 bps to 5.19 percent and in for amounts between 250,000 and 1 million euros, where rate fell 13 bps
13%