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Budget primary surplus of 2.28 bln in first five months of 2016, tax revenues beat target in May
EconomyMacroeconomyeuros in May from a small surplus of 43 million in April. In addition, the 5-month state budget deficit... by 15.9 percent in May after falling in the two previous months. In absolute terms, revenues stood at 3.38 billion euros in May, beating the target by 514 million, which represents the highest monthly
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General gov't cash primary surplus to May halves, arrears keep rising
EconomyMacroeconomy, albeit at a slower rate, by 4.5 percent month on month (MoM) in May from 9 percent in April. The increase... showed arrears reached 5.04 billion at the end of May from 4.82 billion in April. This means that creation of arrears almost halved in May to 218 million from around 400 million in each
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Alpha, Eurobank sign agreement with KKR for management of NPLs
EconomyBankingIn a joint press release, Alpha and Eurobank announced on Tuesday that they have reached a binding.... However, the agreement remained on paper with Piraeus noting in April 2015 that the binding exclusivity... releases Q1 results on Tuesday, with Piraeus and NBG following on May 25 and 26 respectively, while
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New rules on sale of NPLs come into play after approval of omnibus bill
EconomyProgramme, including the interest rate, is not permitted. The loan management may be conducted by companies based.... Licensed companies that will engage in loan sales may also be based outside EEA. The Bank of Greece (BoG... with a binding timetable on a comprehensive mechanism of effective management of private debt. In addition
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Athens facing final steps in third review as next milestones identified
EconomyProgramme, the completion of the tender for gas grid operator DESFA (the deadline for binding offers is February... Athens to lay the groundwork for a timely conclusion to the fourth review by the end of May; agree... with binding targets for employment, growth and fiscal discipline. If eurozone finance ministers give the green
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Fears and reassurances over PPC's dire finances
EconomyFeaturesproduced from this form of coal. The first round attracted no binding bids in February, possibly... impact of dirty energy is more apparent than ever. A second tender is underway and binding offers are expected by May 28. McKinsey plan It has been known for a while that PPC has in desperate need
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Eurobank net profits at 19.7 mln in Q1, merger with Grivalia Properties complete
EconomyBankingof denounced NPEs in the remaining portfolio to roughly 30 percent. Binding offers have been received...-binding offers have been received for the Cairo portfolio, management noted. P&L NII fell by 2.9... Properties announced on May 17 that they would suspend trading as of May 20 and delist the company from
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Coronavirus to delay much of privatisation plan
EconomyFeaturesbinding offers. That phase would have taken place within the next few months under normal... Gas Corporation (DEPA) due to the disruption caused by the coronavirus. Nine non-binding offers were.... ِA decision by the CoS is expected in May, though the timeline remains affected by the virus outbreak. Should
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Credit contracts by slower rate of 2.1 pct in May
EconomyMacroeconomyGreek bank credit contraction further decelerated to 2.1 percent in May from 2.4 percent in April, according to the Bank of Greece (BoG). The May headline figure is the slowest drop since August 2011... deductions to 253 million in May from 542 million in April and is entirely attributed to household
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Unemployment rate fell to 25 pct in May, its lowest level in the last three years
EconomyMacroeconomyGreece’s seasonally adjusted (SA) unemployment rate fell for the second straight month in May, when... (ELSTAT). The May headline figure is the lowest reading since June 2012. The non-seasonally-adjusted...) from 25.5 percent in April to 24 percent in May. This is also the lowest reading in the past three
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