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National Bank posts net loss of 1.1 bln in Q4
EconomyBankingand consumer remained almost stable. Coverage ratio rose by 6 pps QoQ to 60.4 percent, with Greek... ratio at 45 percent. Gross loans rose by almost 1 percent QoQ and 2.7 percent YoY to 72.1 billion... eligible collaterals in the form of pillar II bonds. The bank’s Basel III Common Equity Tier 1 (CET1
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Fitch downgrades Greek IDRs three notches to CCC, sees damage to recovery
Economy: 1) A break-down in negotiations between Greece and its creditors leading to alternative solutions... bonds probable. In contrast, the following developments could result in a rating upgrade: 1... review on Greece. On February 6 Moody’s placed Greece’s ‘Caa1’ government bond rating on review
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A breakdown of the fiscal and structural reforms Greece hopes will unlock funding
EconomyProgrammefiscal impact of around 1 billion. Privatisations We believe the Finance Ministry has revised... to submit eight bills introducing structural reforms in the following areas: 1) Strengthening the autonomy... and vice versa. 5) Implementing an organic budget law that improves the management of public finances. 6
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Unemployment rate eases to 25.4 pct in Feb, as number of unemployed falls
EconomyMacroeconomyremaining consistently well above that of men. Despite decreasing by more than 6 pp YoY, youth... end at 14.8 percent, also showing a drop by 1 pp MoM. In its spring economic forecasts released... though that the EC’s projection for 2015 points to a drop by almost 1 pp YoY.
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Where the key differences between Greece and the institutions lie
EconomyProgrammetargeting revenues of 1 percent of GDP and Greek authorities 0.93 percent of GDP. This difference... contribution for main pensions from 4 to 6 percent and extension for supplementary pensions... percentage points (pp) restoring them to their levels before July 1, 2014 when they were reduced by a similar
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ELA funding up by 9.2 bln in June, banknotes in circulation reach all-time high
EconomyMacroeconomybillion, which is the highest reading since December 2012. ECB funding rose by almost 1 billion to 39.8... currently from zero last December 2014 stems from: 1) Extended deposit withdrawals of around 48 billion... government bonds. On July 6, the ECB Governing Council decided to adjust the haircut applied
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Primary surplus 3.1 bln above target in H1 on severe underspend
EconomyMacroeconomypercent in June to 575 million well below the previous months’ figures ranging between 0.9 – 1... below the FY target namely: 1) Grants to Manpower Employment Agency (at 21.3 percent of the annual... versus FY target of 454 million) 6) Consumption and non-allocated expenditure (at 23.4 percent
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A breakdown of the funding needs involved in Greece's third bailout
EconomyProgrammeof this amount includes: 1. Amortisation of SMP and ANFA bonds held by the Eurosystem (12.7 billion) 2... financing since August 2014, state deposits fell below the 1 billion mark by the end of May... will lower financing needs by 6 billion. Based on these estimates, Greece’s gross financing needs
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General gov't primary cash surplus markedly better in July but arrears climb
EconomyMacroeconomydeclined by 13.7 percent and expenditure by 6 percent, indicating an improving performance in July... to 13.6 percent of total. Around 1 billion from the first sub-tranche of 13 billion Greece received... MoM to 313.17 billion reflecting: 1) A drop in Greek government bonds (GGBs) by 3.55 billion
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Latest polls add to uncertainty ahead of Sunday's elections
PoliticsGreek Politicsof Macedonia poll for Skai TV, which had put SYRIZA 1 point ahead last Friday now shows New Democracy... ahead (by four points) but with its lead narrowing by 1 point since last week. Kapa Research shows... the percentage of voters who have yet to make up their minds at 6 percent, compared to 8 percent last Friday
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